Announces $2.5 Million Investment From Steamboat Ventures

Mar 27, 2007

Industrious Kid, creator of ‘tween social-networking site, has attracted an investment from Steamboat Ventures, the venture capital arm of the Walt Disney Company. The company raised about $2.5 million from Steamboat Ventures late last year, in its first Series A round of funding. Industrious Kid was launched in early 2006 with $6 million in private funding from co-founder Jeannette Symons, among others. In April, Imbee plans to take the wraps off a redesigned site, which will let kids watch music videos, among other new features. Through its partnership with Steamboat Ventures, Imbee has teamed up with the Disney division Hollywood Records so that it will be able to offer song downloads to its membership of kids, ages 8 to 14.