SocialMedia Raises More : $3.5 Million for Network of Facebook Applications
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SocialMedia Receives $3.5 Million for Network of Facebook Applications
October 18, 2007
SocialMedia raised $3.5 Million from Charles River Ventures, Marc Andreessen and Jeff Clavier.
What does SocialMedia do?
SocialMedia provides a suite of tools and services for developers building applications that run on open social platforms, such as Facebook and MySpace.
SocialMedia provides a hosted platform for applications. The creator of the application does not need to worry about scaling their hardware infrastructure if their application becomes well received quickly and takes of virally. SocialMedia worries about the bandwidth.
Each new application hosted on the SocialMedia platform helps to increase their reach as they aggregate the applications into an advertising network. Advertisers can then advertise across the network of applications and the creators of the applications receive revenue from the sale.
A note about the term applications, on the SocialMedia site they refer to their platform hosting applications however most may call them widgets.
See the SocialMedia website.
Read more about Charles River Ventures here