Apm'd Mobile raised $375 million in series E round of funding in 2006 with Old Lane Management as its lead investor, but went out of business in 2007. Amp'd saw investments from Columbia Capital, Highland Capital Partners, Redpoint Ventures, Intel, MTV Networks, Qualcomm, and Universal Music Group. The company filed for Chapter 11 bankruptcy in June 2007, stating around 80,000 of its subscribers as non-paying customers. Version Wireless threatened to cut off its services to Amp'd if its debts were not paid off. Finally an agreement was reached between Amp'd, Verzion, and King Roads (Amp'd Mobile's main creditor) for a cash collateral and permission for Amp'd to use Verzion's network.