White Label Social Network Kickapps Gets $11 Million Second Round Funding
By Rafat Ali - Mon 13 Aug 2007 01:37 PM PST
Kickapps, the NYC-based white label social networking software firm, which had been out on the road for a while raising a new round, has now closed it: it has received a total of $20 $11 million (corrected after the company officially sent out the word) in second-round funding, reports PEHub, citing sources. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital, the story says, and that the pre-money valuation was “in the low-to-mid $20s.”
The company offers social networking and other social media tools like audio, video and picture sharing. KickApps raised $6 million in its first round of funding last year.
This follows a big $44 million round for competitor Ning...Ning is more focused on small to medium and self-serve customers, while Kickapps is focused on media companies. Its customers include Scripps, BET, Arena Football, and others.
Disclaimer: Kickapps has been a sponsor of our events.
Posted in: Social Media, VC+M&A
