Social Network Customization Provider, WebJam Raises $2 Mill

Posted Jul 10, 2008

WebJam was founded by Yann Motte, Alberto Barreiro, and Marcus Greenwood.  Motte was a former VP of Product Management at Yahoo! Europe.  WebJam recently raised $1.9 million in funding from I-Source.  This is the second time that I-Source invested in WebJam.

WebJam is a competitor of Ning.  The company allows users to build custom social networks using drag+drop capabilities.  WebJam will be using the investment to further develop the Branded Services program.  The Brand Services program is a fee that is charged to businesses for additional development of social networks. 

WebJam is based in London, England and was founded about 2 years ago.

“With the single aim to back the hottest technology start-ups with the biggest potential for growth in Europe, Webjam remains a key investment for I-Source,” stated Eric Harle, Managing Partner at I-Source. “By December we anticipate that Webjam will have secured stable revenue streams around fees, premiums and advertising as web 2.0 services become established in the minds of businesses and organisations as an essential part of reaching and interacting with their customer base.”

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