Multiply Raises $5 Million From ABS-CBN; Now Valuated At $100 Million

Amit Chowdhry | Tuesday November 18, 2008 | 567 views
Share


Multiply.com is a social network that offers similar services as Facebook.  The difference is that Multiply allows users to upload higher quality videos and photos into a digital scrapbook for a premium price.  Multiply has a large number of adult users as well.

Recently Multiply raised $5 million in funding from ABS-CBN, a Philippines-based media company.  The $5 million gave ABS-CBN a 5% stake (2.5 million shares).  ABS-CBN was also given the option to invest another $4 million in the next 3 years to attain a 10% stake.

To date, Multiply has raised $27.6 million in funding from VantagePoint Venture Partners, Point Judith Capital, and Trans Cosmos.  With this round of funding, TechCrunch pegs Multiply’s valuation to be around $100 million.  Multiply is based in Boca Raton, FL and has offices in San Francisco, CA and NYC.



Categorized under

If you liked this post, subscribe to the Pulse 2.0 RSS feed.
blog comments powered by Disqus