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SocialMedia Raises $6 Million For Widget Ad Network

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Social media-based ad network SocialMedia has picked up $6 million in a second round of funding. IDG Ventures and previous backer Charles River Ventures led the round, bringing SocialMedia’s total raise to $9.5 million. The SF-based company launched in 2007, and has since run app-based campaigns for brands like P&G, Coca-Cola and Diesel on Facebook and MySpace.

SEE ALSO: SocialVibe Gets $8 Million Second Round For Social Media “Activism”

CEO Seth Goldstein told VentureBeat the company brought in revenue between $15 million and $20 million on such campaigns, which ask members brand-related questions (like whether they’ve seen an upcoming movie trailer or which mouthwash they’d prefer their partner used); the ads gain exposure through profile status updates. SocialMedia’s ads compete with app-based campaigns from companies like Slide; they also compete with Facebook and MySpace’s own “engagement” ads. More details in release here.

Jan 29, 2009 8:42 PM ET

Posted In: Advertising, Money, M&A & Venture Capital, Venture Capital, Social Media, charles river ventures, idg ventures, seth goldstein, socialmedia

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