Andrew
03-23-2007, 07:48 PM
Creator of tween social network nabs Disney VC investment (http://news.com.com/2061-12645_3-6170187.html?part=rss&tag=2547-1_3-0-5&subj=news) -- CNet News.com, 2007-03-23
Industrious Kid, creator of tween social-networking site Imbee.com, has attracted an investment from Steamboat Ventures, the venture capital arm of the Walt Disney Company. According to Industrious Kid co-founder Tim Donovan, the company quietly raised about $2.5 million from Steamboat Ventures late last year, in its first Series A round of funding.
[...]
With the Imbee investment, Disney (a la Steamboat Ventures) is placing a wider bet on kids' sites online, and in particular, social networks for the younger set. To be sure, Disney already runs the most popular collection of kid-oriented sites online, including the character-driven Toontown and the virtual game Virtual Magic Kingdom.
Industrious Kid, creator of tween social-networking site Imbee.com, has attracted an investment from Steamboat Ventures, the venture capital arm of the Walt Disney Company. According to Industrious Kid co-founder Tim Donovan, the company quietly raised about $2.5 million from Steamboat Ventures late last year, in its first Series A round of funding.
[...]
With the Imbee investment, Disney (a la Steamboat Ventures) is placing a wider bet on kids' sites online, and in particular, social networks for the younger set. To be sure, Disney already runs the most popular collection of kid-oriented sites online, including the character-driven Toontown and the virtual game Virtual Magic Kingdom.