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Mark Cuban has taken a 7.4% stake in video ringtone maker Vringo Inc. /quotes/zigman/1538620/quotes/nls/vrng VRNG +4.97% , a disclosure that comes a day after the billionaire made an investment in another applications maker.
Vringo develops mobile video, personalization and social-application platforms. In February, the company said its Facetones app, a Facebook Inc.-integrated visual ringtone based on pictures from a user's friends, reached 1 million downloads.
The stake of about 1.03 million shares makes Cuban Vringo's largest holder, according to data from FactSet Research. Hedge fund Iroquois Capital LP has the second-biggest stake in Vringo at 6.4%.
Shares jumped 16% to $3.53 after hours. Through the close, stock had more than tripled since the start of the year.
Neither Vringo nor Cuban was immediately available for comment.
The disclosure with the Securities and Exchange Commission comes a day after Mention Mobile, a social-gaming applications maker, reported that Cuban had invested an undisclosed amount in the company. Cuban's other significant holdings include stakes in media-measurement company Rentrak Corp. (RENT) and LodgeNet Interactive Corp. (LNET), a television-systems operator that delivers on-demand movies, among other things. He also owns the Dallas Mavericks.
Last month, Vringo reported its full-year loss narrowed to $7.5 million from a year-earlier loss of $9.9 million as revenue more than tripled to $718,000. Chief Executive Jonathan Medved resigned from the CEO post in March and was replaced by President Andrew Perlman.
In March, Vringo agreed to an all-stock merger with intellectual-property firm Innovate/Protect Inc, a firm founded in 2011 that holds eight patents related to relevance filtering technology acquired from Lycos Inc. The company contended the deal will allow it to better produce revenue.
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