DIY social network receives $1 million in funding
Posted by Emily Dilling on June 26, 2009 at 8:27 AM
The DIY social network platform GROU.PS has received a second round of funding from Golden Horn Ventures, which invested US$1.1 million in the company last year and committed to giving the startup another $1 million this year, paidContent reported.
The company reportedly counts more than 100 million users that have created 40,000 online networking groups, putting them in a position to compete with other popular Do-it-yourself sites such as Ning and KickApps.
GROU.PS platform allows users to create photo albums, maps, calendars, amongst other options. Along with basic revenue generating methods such as the use of Google Adsense ads, users of GROU.PS are also able to charge membership fees to the groups they have created.
The company reportedly counts more than 100 million users that have created 40,000 online networking groups, putting them in a position to compete with other popular Do-it-yourself sites such as Ning and KickApps.
GROU.PS platform allows users to create photo albums, maps, calendars, amongst other options. Along with basic revenue generating methods such as the use of Google Adsense ads, users of GROU.PS are also able to charge membership fees to the groups they have created.
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