$11M for Piczo

BrandRepublic reports that "Teen social networking website Piczo has secured $11m (£5.8m) in funding from US Venture Partners and Mangrove Capital Partners, as part of its plans to expand its global presence in the youth market."

I spoke to Chris Seth (UK MD) and he told me that they are very happy about this third round of funding. (It is the second round of VC for those scoring it at home.) The money will be used for site improvement and marketing. One thing that Chris was particularly happy abotu was the fact that the funding is from an international group of investors, adding to the understanding/appeal of Piczo as a global business.


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