SocialMedia Networks: Showing the money for Facebook and MySpace

Posted Oct 18th 2007 2:33PM by Tom Taulli
Filed under: Marketing and Advertising, Entrepreneurs, Small Business, Technology

SocialMedia Networks Social networking attracts tons of traffic. But what about money?

Well, a variety of companies are working on it.

Take SocialMedia Networks. This week, the company announced that it raised $3.5 million in venture capital. The investors include Charles River Ventures and Netscape co-founder Marc Andreessen.

SocialMedia is putting together an all-in-one system that monitors and analyzes traffic, provides strategies for promotions and has an ad network. All of it is provided on a self-service basis.

Yes, it's ambitious stuff. But, if SocialMedia can pull it off, the rewards should be substantial.

Visit DealProfiles to check out other recent venture fundings.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements.

Tags: Charles River Ventures, CharlesRiverVentures, Facebook, Marc Andreessen, MarcAndreessen, MySpace, social networking, SocialMedia Networks, SocialmediaNetworks, SocialNetworking