Social Net Hi5 Raises $15 Million Venture Debt
By Joseph Weisenthal - Tue 29 Jan 2008 09:51 AM PST
SF-based social network Hi5 has taken $15 million in venture debt from Hercules Technology Growth Capital. The site, which originally targeted Indian expats but now has a more global outlook, raised $20 million from Mohr Davidow Ventures last summer. It claims to be in the top 10 globally in terms of traffic and the new backers touted Hi5’s ability to localize for various regions. The company didn’t offer any specifics on what it plans to do with the funding, other than to expand and invest in its service. Release.
Posted in: Social Media, VC+M&A, Venture Capital
