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News and Information Article
With Global Membership Surging, Social Networking Leader Plans to Expand
Products and Services
http://www.fotolog.com
NEW YORK, Oct. 4 // -- Signaling continued growth for one of
the worlds largest social networking sites, Fotolog today announced that
it has raised $4 million in Series C funding from BV Capital and 3i.
Since March 2005, Fotolog has raised three rounds of funding from BV
Capital, 3i, and private investors for a total of $12 million.
Founded in 2002 as a way for a few friends to share photos, Fotolog
membership has surged from 1 million to more than 4.7 million in the past
20 months, pushing Fotolog into the top 50 websites worldwide, according to
Alexa Rankings (http://www.alexa.com/site/ds/top_500). Attracting 9.7 million
unique visitors monthly and 4.9 billion monthly page views, according to
Comscore (July 2006), Fotolog members post nearly 500,000 photos and 3
million messages every day.
BV Capital (http://www.bvcapital.com) is a leading independent venture capital
fund. 3i (http://www.3i.com) is a world leader in private equity and venture
capital.
According to CEO Michael Crotty, the new funding will be used to invest
in new products and services that will enhance the user experience and
support Fotologs rapid growth.
"This new round of funding will enable Fotolog to accelerate growth,
enhance the Fotolog experience, and expand into new markets," said Crotty.
"Were excited to be working with leaders like BV Capital and 3i who
recognize the power of Fotolog and its tremendous growth opportunities."
About Fotolog
One of the worlds largest social networking sites, Fotolog boasts more
than 4.7 million members who use photo blogs to connect and communicate
daily with a global network of friends and family. Founded in 2002, Fotolog
has experienced explosive growth and now generates nearly 5 billion page
views and attracts almost 10 million unique visitors each month, according
to ComScore.
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