iPhone developer ngmoco snaps up $10 million investment

The company may only be 9 months old, but this week Ngmoco snapped up another $10 million, bringing the total raised to $15 million.

New investors Norwest Venture Partners join Kleiner Perkins and Maples Investments. The deal was reportedly closed in a matter of weeks, a sign of how hot the iPhone space is right now.

A fantastic business opportunity or a bunch of VCs jumping on the most visible current busines opportunity?

Actually, my view is the former. I hope I’m right.