Redwood City, Calif. - RockYou, a developer and distributor of social media applications, announced on Monday that it has raised $17 million in new funding from Softbank and SK Telecom Ventures, which will cap its third round of financing at $52 million.

The previous $35 million tranche was led by DCM.

Redwood City, Calif.-based RockYou's social media applications include a multimedia slideshow creation tool popular on Facebook and MySpace.

As part of the investment deal, RockYou will set up a new joint venture with Japan's Softbank that will develop widget and application products and services for PCs and mobile devices in the Asian market.

The company said it will use the funds to extend its presence in the Asia-Pacific market, as well as to open new offices in New York, Los Angeles and Detroit, and for potential acquisitions.

Related Links:
http://www.marketwire.com/press-release/Rockyou-NYSE-SKM-915950.html