Facebook Application, Acebucks Raises $1.5 Million in Funding

Posted Sep 23, 2007

Buddy Media, the owner of Acebucks was said to have received $1.5 million recently by a variety of well-known investors.  The investors include Peter Thiel, Mark Pincus, James Altucher, and Howard Lindzon.

The purpose of the funding is to expand the operational and marketing abilities of the Acebucks Facebook Application.  Acebucks’ aim is to become the leading virtual currency on Facebook.  Acebucks will be opening an API soon and other developers will be able to integrate Acebucks into different applications.

“”Facebook members can earn AceBucks by playing games, adding applications, completing surveys, inviting friends, opening a store and more. AceBucks can be used to buy both virtual and real goods and services through the AceBucks Mall and user-created stores,” states Buddy Media’s homepage.

Buddy Media is founded by Michael Lazerow.  Lazerow sold companies, Golfserv to Time Warner and U-Wire to Student Advantage.  Lazerow’s personal web site is available at: http://www.lazerow.com/.

Information Source:
[1] AllFacebook: Breaking: Acebucks Raises 1.5 Million
[2] Mashable: Facebook Virtual Currency AceBucks Raises $1.5 Million