Social Networking Site Multiply Raises $6 Million in First Round

Authored by Mark Hefflinger on July 17, 2006 - 1:13pm.

Boca Raton, Fla. - Multiply, a provider of tools and communication features that allow people to create and share their online presence and communications, has raised $6 million in its first round of venture capital, led by Transcosmos Investments. Boca Raton, Fla.-based Multiply said that it is approaching 3 million registered users for its social networking service. The company said that the investment funds will be used to accelerate the development of new features and functionality for its service as well as to expand its marketing activities and international presence.

http://www.multiply.com