Friday, May 23, 2008

Flock - The Social Web Browser got VCs funding

What company Is Offering:

Flock - The Social Web Browser - is built on Mozilla's constantly improving Firefox architecture . It is free to download and use at Flock simplifies and extends the use of social and web-based applications to enable the richest user experience possible across information-gathering, sharing, communication, self-expression and interaction. Flock delivers a more personal experience of the web, where its users are in control and more connected to what they value. The company is based in Redwood City, CA, with an office in Victoria, British Columbia.

How Much they Got From VCs:

Flock, a Redwood City, Calif.-based developer of a social Web browser, has raised $15 million in Series D funding. Fidelity Ventures led the round, and was joined by return backers Bessemer Venture Partners, Catamount Ventures and Shasta Ventures.

This new funding exceeds the amounts raised in all prior rounds combined and will be used to provide growth capital to expand Flock's business, including research and development, marketing and expansion into new global markets. According to Datamonitor, there are currently over 230 million members of social networks globally, and revenues are projected to reach $2.4 billion by 20121. Fidelity Ventures brings the advantages of its tremendous global reach and experience to assist in growing Flock's business.

"We are thrilled to close this significant round of financing," said Shawn Hardin, CEO of Flock. "Following the tremendous market response to Flock's commercial release, this new funding will enable us to continue our browser innovation � making engagement and participation across social networks and the Web as effortless as consumption."

"The browser is strategic because it enables nearly everything users do online," said Larry Cheng, Partner at Fidelity Ventures. "Flock's social browser is the most compelling innovation in the browser market in over a decade. The reasons we invested are simple: great product, fantastic user adoption, and excellent revenue growth."
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