MocoSpace Mobile Community Momentum Continues
MocoSpace secures $4 million in Series B financing with two million members and nearly one billion monthly page views
Boston, MA - January 28, 2008 -MocoSpace
, the largest and fastest growing mobile community
in the United States, continues its upward trajectory by announcing today the completion of its series B financing led by General Catalyst, securing $4 million in additional funds. All of the original investors, which also include Bob Pittman's Pilot Group and former eBay executive Michael Dearing, participated in the round as well. Today, with over 2 million members MocoSpace generates 1 billion page views a month.
A clear sign of its strong business momentum, MocoSpace recently completed the $4 million Series B round. The new funding will be used to support new product initiatives and infrastructure scaling.
"We're very impressed with MocoSpace, and the proof of the company's growth potential is evidenced by where they are today and how fast they've gotten there,"said John Simon, managing director of General Catalyst Partners
. "The mobile industry is a hot market, and MocoSpace is leading the way in showing how wireless and social communities best intersect."
Helping people connect with and make new friends
on their mobile phone, MocoSpace offers a thriving community that users can access wherever they are. Members can share photos, instant message, email, customize profiles, play games and more.
"Reaching the two million member mark is a very exciting milepost, and it's one that we've managed to hit quite a bit faster than the first million," said Justin Siegel, co-founder and chief executive officer of MocoSpace. "Our members are terrific and very active. Today they generate nearly one billion page views a month, browsing profiles, playing games, blogging and customizing their photos, among other things. I think MocoSpace is well on its way to becoming one of the first big consumer brands of the mobile Internet."
MocoSpace is one of the fastest growing mobile communities in North America with nearly one billion page views each month. Founded in 2005, MocoSpace is open to all and the best place to find friends, chat
, have fun and stay connected on your mobile phone. MocoSpace has offices in Boston, Massachusetts and Herzeliya, Israel. For more information, visit www.mocospace.com
About General Catalyst
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass. For more information, please visit:www.generalcatalyst.com
For more information, contact:
MocoSpace, 617.542.1614 or firstname.lastname@example.org
Michelle Daubar, General Catalyst Partners, 617.234.7028 or email@example.com
Julie Fogerson, LEWIS PR, 212.292.4921 or firstname.lastname@example.org