MobileNest

Photobucket, which dominates photosharing on the web, has plans to expand its domination of this service by pairing up with mFoundry, a mobile marketing and advertising company based in California.

Joint effort is on the way to release an application to help extend photobucket-based content to mobile phones. The first beta release version is expected to surface within a few weeks. At this time, the future and plans for this collaborative effort are unknown.

Both companies are in a sweet spot for mobile growth. According to Ovum, a research firm, mobile advertising in the U.S. will rise from $45 million this year to $1.2 billion by 2010. The mobile photo sharing is also growing at a rapid rate.

Photobucket, Going Mobile [GigaOM]