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VC Firm Hercules Invests $2 Million in Social Networking Firms

Authored by Mark Hefflinger on April 2, 2007 - 11:33am.

Palo Alto, Calif. - Venture capital firm Hercules Technology Growth Capital announced that it has provided $1 million each to two social networking ventures -- one being San Francisco-based Wallop, and the other a stealth-mode company based in Los Angeles.

tags: Deals | VC | Social Networking | Microsoft | Wallop | Hercules Technology Growth Capital |

Online Social Network Start-up Wallop Raises $10 Million

Authored by Mark Hefflinger on September 26, 2006 - 1:31am.
San Diego - Wallop, a new online social network, on Tuesday announced its launch at the DEMOfall '06 conference in San Diego. The company, which was spun off from a Microsoft research project, also announced that it has raised $10 million in its second round of venture capital financing. Norwest Venture Partners led the investment round; previous investors Bay Partners and Consor Capital also participated. Wallop will not feature any advertisements, but instead plans to sell "mods" that allow members of the invitation-only network to add interactive graphics and personalization to their profile pages.
tags: Deals | Internet | VC | Tech | Social Networking | Wallop |

Microsoft, Wallop Partner on New Social Networking Technology

Authored by dmw on April 27, 2006 - 7:39am.
San Jose, Calif. - Microsoft is looking to enter the lucrative social networking space populated by MySpace, Facebook and Friendster through a joint venture with San Francisco-based start-up Wallop, which is utilizing technology from Microsoft's own research labs. The company is headed by former Microsoft employee and entrepreneur Karl Jacob, and has raised an undisclosed amount of first round financing from Bay Partners. The company said its social network will "solve the problems plaguing current social networking technologies… Wallop departs from the friend-of-a-friend model common in all social networks today and the root of many of their problems," the company said. "Instead, Wallop developed a unique set of algorithms that respond to social interactions to automatically build and maintain a person's social network." The company plans to launch the service later this year.
tags: Deals | Internet | Tech | Social Networking | Microsoft | Tech Deals | Wallop |