SocialMedia Raises $6 Million

Feb 03, 2009

SocialMedia Networks, a social media advertising network, announced that it has secured Series B financing of $6 million. The investment was led by IDG Ventures SF with co-investment from Charles River Ventures. This second round brings SocialMedia's total raised to $9.5 million. SocialMedia Networks provides an independent social media advertising network. Its primary product is Word-of-Mouth ads, which are sold to brand advertisers. These ads are shown within a social network like Facebook, MySpace, or Twitter to the friends of the user who engages with branded content.