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MocoSpace, a social networking site targeting mobile communications, on Monday announced it has secured $4 million in a Series B round, which follows close on the heels of an initial $3 million it raised last August. The deal underscores how, despite talk of social networking overkill, investors are still at least cautiously pushing in the sector.
MocoSpace's latest funding comes from all of the same backers that participated in its first round, including Pilot Group, General Catalyst Partners and individual investor Michael Dearing, a former eBay Inc. executive.
Explaining his interest in the company, General Catalyst Partners managing director John Simon said in a statement that MocoSpace lies at the intersection of social networking and wireless applications.
MocoSpace, which says it has 2 million members and gets 1 billion page views per month, contends that larger social networks do not adequately address the needs of users to connect with friends while on the go. - Andrea Orr
See August 2007 story from VentureBeat
their investors better have a look around mocospace forums and see whats happening there. the site has nice features, but using the site compares to trying to enjoy hanging out in a prison mental ward. a dangerous site for teens for certain! not monitored at all. prodigits.com is a much better site.
mocospace is an out of control cess pit. with forums full of extreme abuse,stalkers,and weirdos, the forums are virtually unusable and dangerous.its owners justin and jamie do next to nothing to make the site safe.theres a report feature for abuse but they do virtually nothing about problems. ive seen heaps of good loyal users leave recently and i suspect it will become a trend. very irresponsible uncaring owners.