Wallop Raises $1 Million : Social Networking
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Wallop Raises $1 Million
April 2, 2007
What does Wallop do?
Wallop is a social networking site with interesting features such as requiring two way invitations to join a members network.
Hercules Technology Growth Capital provided $1 million of equipment based financing to Wallop, an internet social network. Wallop started as a Microsoft research project and Microsoft IP Ventures. Wallop is also backed by Norwest Venture Partners, Bay Partners, and Consor Capital.
The company desires to find solutions to the limitations of other social networking sites. Features of their site include the aforementioned two-way invitations, which must be accepted before your content may be viewed or comments added.
Other functionality includes and easy to use interface so the user does not need to know HTMl, simply drag and drop functionality such as remove a user from your network. You can purchase what they call a “mod” or template for your site, instead of building your own. You may share photos, music, and other media, only obtainable by your network.
See their site here.
Read more about Karl Jacob here.
Read more about Hercules Technology Growth Capital here.
Technorati: venture capital