Los Angeles - Serious Business, a developer of social media applications such as the "Friends for Sale" game on Facebook, has raised $4 million in a first round of financing from Lightspeed Venture Partners, the Inside Facebook blog reported.

Friends for Sale, which lets Facebook users "buy" and "sell" friends on the site, claims 600,000 active users.

Serious Business joins a list of other social media application developers to have raised venture capital that includes SGN, Zynga, Slide and RockYou.

Related Links:
http://snipurl.com/26czj (Inside Facebook)

http://www.seriousbusiness.com