Home › content

College Social Networking Site Facebook Raises $25 Million

Authored by dmw on April 19, 2006 - 4:44pm.
Palo Alto, Calif. - Facebook Inc., the operator of a social networking site for college and high school students, announced on Wednesday that it has raised $25 million in venture capital financing. Greylock Partners led the investment round; Meritech Capital Partners and previous investors Accel Partners and PayPal co-founder Peter Thiel also participated. Launched in 2004, Palo Alto, Calif.-based Facebook now claims over 7 million members for its service, which like similar social networks MySpace and Friendster lets members create profiles and interact with other college students online. The company, which has now raised a total of $37.7 million, said it will use the funds to improve site functionality.
http://tinyurl.com/nbdd6 (Red Herring)
http://www.facebook.com
tags: Deals | Internet | VC | Social Networking | College | Facebook | Greylock |



Comments

Post new comment

The content of this field is kept private and will not be shown publicly.