Renkoo, the Silicon Valley start-up that is lets you do social planning online, has picked up an extra $6 million in their second round of venture investing.
Renkoo, of Redwood City, allows the users of its site to send invites to plan and organize events. You can see our previous coverage of Renkoo here, where we discussed its early use of “Comet” technology that allows a “persistent” connection to facilitate communication when needed.
Aside from being a social networking site, Renkoo is also the creator of the Facebook application Booze Mail. Over the last year, Renkoo CTO Joyce Park tells us, Renkoo found that its most popular use was to organize people to go out for drinks. Responding to this demand, Renkoo developed the Booze Mail application for Facebook, which has more than 70,000 users (screenshot below).
Park stated that this new round of investing will be used to develop more applications for Facebook and other social networking sites.
The round was led by Maveron Equity Partners, and previous investor Matrix, which earlier invested $3 million, participated.
3 Comments
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eddie said:
what sort of valuation did they get? either they gave up a huge chunk of the company or they convinced somebody that 70k daily actives buying virtual drinks was worth a lot of money…anybody have any insight here?
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Skeptic said:
This is ridiculous! BoozeMail is about as useless as the Vampires App on Facebook. In this zero sum game of VC, some bona fide deserving startup just lost out on $6M. Sad!
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What said:
Prediction: Maveron does ChaCha’s next round!
2 Trackbacks
11:11 am
Renkoo Gets Another $6M to Compete with eVite said:
[...] an additional $6 million in funding, led by Maveron Equity Partners, according to a report from VentureBeat. This is the company’s second round of funding. I had a rather extensive interview with Joyce [...]
2:30 am
Renkoo在第二轮融资中获得额外的600美元资金 | 帕兰映像 said:
[...] 据venturebeat报道，Evite的竞争对手Renkoo获得一项以maveron Equity Partners为首的额外的600万美元的投资。这是该公司的第二轮融资。Renkoo定位于创造一个基于网络的跨平台（交叉设备）系统，以帮助每个公司计划休闲活动。 [...]