Social Networking Site Multiply.com Receives Investment

Multiply, a social networking and sharing site based in Boca Raton, FL, has received funding from Japanese venture and marketing Transcosmos Investments. The funding amount was not disclosed. More than 1.5 million people have registered on Multiply as of October 2005, the company says.

As part of the agreement, Multiply and Transcosmos will form a partnership to operate a Japanese language version of the Multiply web site.

In recent months, AudioBlog.com and Pheedo (RSS ad startup) have received investments from Transcosmos.