Blippy, a service that shows what your friends are buying through social networking has raised $11.2 million in funding. On paper, the company is now valued $46.2 million. The latest round of funding was led by August Capital. August partner David Hornik will be joining the board of directors at Blippy. Hornik actually shared his investment on Blippy too… yup he shared that he put in an $8 million investment in the web company. Charles River Ventures put in $3.2 million out of the $11.2 million investment in this round. Blippy plans to use the funding for marketing and closing business deals. [TechCrunch]
Even Apple copied Blippy's concept, taking the concept of purchase sharing over to its (also failed) social music service Ping. But underneath all the sloppy kisses it seems like people were more in love with the Blippy concept.