Social Apps Distributor RockYou Adds $17 Million For $52M Third Round
This story was written by David Kaplan.
Widget and social app firm RockYou is adding $17 million to its already hefty third round. Back in June, the San Mateo, CA-company started the round with $35 million led by DCM, with participation from several undisclosed backers. This latest capital infusion comes from Softbank and *SK Telecom* Ventures, the venture capital arm of SK Telecom (NYSE: SKM), giving the company $52 million for the round and a total of $67 million for all three rounds.
The proceeds will go towards supporting a number of RockYou's ambitions. That includes extending its presence in the Asia-Pacific market, such as building its widgets and apps into China's largest social network, Xiaonei; working with SoftBank on a joint venture company to develop products and services for use on PCs and mobile devices in Japan, Korea, Russia; and opening new offices in New York, Los Angeles and Detroit offices. RockYou is also considering acquisitions. Release
By David Kaplan