Press Release Summary: MocoSpace secures $4 million in Series B financing with two million members and nearly one billion monthly page views
Press Release Body: Boston, MA - January 28, 2008 - MocoSpace, the largest and fastest growing mobile community in the United States, continues its upward trajectory by today announcing the completion of its series B financing led by General Catalyst, securing four million in additional funds. All of the original investors, which 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 four million Series B round. The new funding will be used to support new product initiatives and scaling infrastructure.
\"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 friends and make new ones 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.\"
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