Two major announcements from Facebook App development firm Buddy Media: a $6.5 million round of Series B funding from Softbank Capital, and the launching of a new ad network. Other participating investors in this round include the European Founders Fund and GreyCroft Partners.
Buddy Media was among the first to create a dedicated company for the creation of integrated social networking applications, and has developed several applications and acquired a handful more since its inception last summer. In expanding its portfolio of social media applications, Buddy Media has helped solidify the industry niche of such applications, further supporting the ecosystem that has arisen from large networks opening their platforms to be used by developers around the world.
