FriendFeed Business Deal

FriendFeed Inc. announced its most recent business deal on February 26, 2008. The announcement made it clear that FriendFeed Inc. was going to receive a huge funding worth $5 million from Benchmark Capital Inc.

Company Profile

FriendFeed Inc. provides innovative technology solutions, which make web content more relevant and more useful. The company was established by some former Google employees: Jim Norris, Bret Taylor, Paul Buchheit and Sanjeev Singh. The headquarters of FriendFeed Inc. is situated in Silicon Valley.

Details of the Deal

FriendFeed Inc. declared that through this investment deal it raised $5 million in its Series A financing. The total funding came from Benchmark Capital, and the co-founders of FriendFeed Inc., Sanjeev Singh and Paul Buchheit. Regarding investment deal, Peter Fenton, Partner at Benchmark Capital, stated that Benchmark Capital has taken the decision of investing in FriendFeed Inc. because FriendFeed has a very talented and creative team, and it possesses a network that uses the most powerful form of sharing. After announcing the investment deal, FriendFeed Inc. launched a new site, FriendFeed. Through this site, people would be able access the web pages, photos and videos that their friends and family have shared.

FriendFeed Inc. has the goal of making web content more useful and more discoverable for the leveraging users. The company also aims at providing customized content to the users. FriendFeed Inc. would use the funds raised through the investment deal to meet these goals.