Social Network Multiply.com Gets $16.6 Million Funding
Multiply, a social networking and sharing site based in Boca Raton, FL, has received a relatively big $16.6 million second round of funding. The round was led by VantagePoint Venture Partners, with participation by Point Judith Capital and previous investor Transcosmos Investments. The company’s first round was $6 million..it was founded in 2003. The additional capital will be used to expand Multiply’s social networking, communications and digital content-sharing platform, it said. The company has also named David Scott Carlick to its board of directors…Carlick was Chairman of Intermix Media, parent of MySpace, through to its acquisition by News Corp in 2005.
A more detailed story about its supposed growth and future plans, here on VentureBeat.
Posted In: Social Media
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Comments (1)
Oct 10, 2007 6:02 PM
This has my attention, for several reasons.
I’m a writer. I joined Y/360 two years ago due to an invitation from some pretty well-placed people in the tech-community, and have been one of Y/360’s ‘featured’ bloggers for nearly a year now. I’ve done all of this because the social-aspect of collaborating with other bloggers and writers has always appealed to me.
Yahoo, for its part, has never corrected the technical problems with Y/360, has never fully addressed the gratuitous ‘drama’ issues inherent with its user-base, never done what was necessary to adequately promote the product - much less get it out of beta-mode, and has never attracted the kind and caliber of user which would have made my experience meaningful.
It appears that Mulitply is much the same concept - with an even-greater feature-set - done ‘right’.
I will await the success of this venture, as any company in this market-space needs continued funding through the startup phase to be so.
I also might need a new home for my writing.