MyStrands Raises $24 Million to lead the social recommendation industry
En Español aquÃ
We are very excited to announce that MyStrands has secured $24 million in its Series B2 round of funding. Spanish bank BBVA led the funding along with existing investor Debaeque. As you know, the last round of funding closed in June at $25 million, bringing the total capital raised to date to $55 million.
What is the value of MyStrands?
In the past four years, MyStrands has developed a scalable Personalized Discovery Platform and a Social Recommender Engine. The Social Recommender Engine provides real-time personalized recommendations of products and services through computers, mobile phones, and other Internet-connected devices; and takes into account that taste is context-sensitive and evolves over time.
These developments have already resulted in sales of $12 million during 2007.
Why more money?
The future of the Web is personalization and we are committed to leading it. These new funds will allow us to go one step further, enabling us to grow to the next level of product development, always respecting our core proposition: help people discover new things.
Why BBVA?
They endorse our vision and realize that summarizing and understanding people’s preferences will allow us to deliver relevant content to people, wherever they are.
What is BBVA?
BBVA is a financial services group with more than $782 billion in total assets, 42 million customers in 40 countries and a market capitalization of approximately $95 billion.
The BBVA Group maintains a leadership position in Spain, Mexico, and Latin America, and has started a growth and diversification strategy in Asia and the United States, where it recently bought Compass for approximately $9.6 billion.
We are Growing, Hiring!
This is the perfect moment to repeat it: we are hiring! We are bringing the best developers all over the world to come and join our team of 90 people. We are headquartered in Corvallis, Oregon, but you can join our teams in other cities. In the US: San Francisco, New York, Washington DC and Seattle (upcoming). International: Barcelona, Madrid, Valencia and Zaragoza in Spain; Helsinki in Finland or Sao Paulo in Brazil.
MyStrands Blog » MyStrands atrae $24 millones del BBVA para liderar la industria de las recomendaciones sociales said,
December 4, 2007 @ 8:58 am
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December 4, 2007 @ 11:35 am
[...] MyStrands, the music recommendation service with a focus on the mobile sector, has raised another $24 million in a Series B2 round of funding, led by Spanish bank BBVA with existing investor Debaeque participating. With MyStrands’ last round in June closing out at $25 million, the company has now raised a cool $55 million to play around with. See more info here. [...]
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December 5, 2007 @ 4:58 pm
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December 7, 2007 @ 5:12 am
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Social Music Service Updates: Yobo.com and 8box.cn « Sampsung @ HiLaws ♨ä¾å祥♨ said,
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MyStrands Blog » …one company you’ve got to keep an eye on… said,
December 13, 2007 @ 5:27 am
[...] week was an exciting one, with the announcement of BBVA investment in MyStrands. We want to thank you all for your support and enthusiasm! Here you’ll find some of the [...]