SodaHead Secures $8.4 Million in Series B Funding
Funding to Support Membership Growth, New Marketing Initiatives,
Strategic Hires
LOS ANGELES (Business Wire EON/PRWEB ) June 25, 2008 --
SodaHead, a leading opinion community
focused on discussing today’s hottest topics,
announced an $8.4 million Series B round of funding. Mission
Ventures led the round with prior investor Mohr
Davidow Ventures (MDV) co-investing. Funds will be allocated to new
marketing initiatives and strategic hires designed to make SodaHead the
#1 discussion community.
“SodaHead offers an incredible opportunity
for individuals to express their opinions and meet similar people,”
said Robert
Kibble, managing partner, Mission Ventures. ”SodaHead’s
community and upcoming initiatives are very exciting and I believe
SodaHead will be one of the biggest sites on the Internet. Mission
Ventures has made several investments in Internet/digital media
companies and we are very excited to add SodaHead to our portfolio.
SodaHead has an experienced management team for this opportunity and we
believe in their vision and strategy.”
Since its launch in September 2007, SodaHead has gained over 600,000
members, has 3 million answers to questions and over 4 million comments
discussing a broad range of topics such as politics, pop culture, music,
relationships, sports and health. SodaHead was founded by Jason Feffer
and Michael Glazer, who have been best friends since kindergarten.
“SodaHead is the Internet’s
modern day town square where people meet, discuss, debate, share and
socialize with other SodaHeads,” said
Jason Feffer, co-founder and CEO, SodaHead. “The
SodaHead platform empowers consumers to express themselves and takes the
pulse of what’s happening online in real
time. The site also offers unparalleled feedback on people’s
likes, dislikes and opinions on hot topics which is a dream come true
for advertisers looking to tap a highly engaged and targeted demographic.“
Mr. Feffer has over 10 years experience developing Internet companies.
Prior to SodaHead, he helped start MySpace,
which in 2003 sold to News Corp for $580 million. During his tenure at
MySpace, Mr. Feffer served as vice president of operations as the
membership grew to 100 million.
MDV led the Series A round of $4.3 million with other investors,
including the Tech Coast Angels and Ron Conway.
About SodaHead.com:
SodaHead is a leading opinion community focused on discussing today’s
hottest topics. If you have something that gets your noggin spinning,
hit up SodaHead -- ask a question or add your two cents and see who else
thinks like you. Share your views with your opinionated friends, your
gossipy co-worker, your know-it-all ex or meet new friends. Pick your
passion, whether its politics, pop culture, music, sports or
relationships, you'll find SodaHeads who are all worked up about
the same stuff you are! Take the discussion to your site like many
celebrities, bloggers and media companies have using SodaHead’s
customized poll widget to better engage their audience. Everyone with
something to say belongs on SodaHead.
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