Social Incubator Company YouWeb Raises $2 Million

Posted Aug 25, 2011

YouWeb is the social incubator that was behind OpenFeint, Sibblingz, CrowdStar, and iSwifter. YouWeb has raised $2 million in funding from several angel investors including Dave Roux, Dave Whorton, Praful Shah, Brett Wander, Winston Cho and Peter Relan. YouWeb previously raised $700,000.

YouWeb said that they differ from Y-Combinator because they choose individuals that don’t necessarily have a business model or an idea. The individual is given $100,000 to develop a business.

YouWeb recently hired former Kosmix and executive Michelle Yee Sangster as the SVP of business development.

YouWeb companies have been working out well so far. OpenFeint was acquired by GREE for over $100 million and CrowdStar recently raised $23 million in funding. YouWeb and CrowdStar also recently teamed up on a $10 million fund for social game development.