Tuesday, July 1, 2008

Social Network Hi5 Acquires PixVerse

June 30, San Francisco - Online social network Hi5 announced on Monday that it has acquired PixVerse, the provider of a Flash-based, no-download virtual world platform for social networks.

Financial terms of the deal were not disclosed.

PixVerse was founded in 2007 and backed by venture capital firm Venrock.

The company is one of thousands of third-party developers that have written applications that run on Hi5, which claims 80 million users.

"Communicating with friends is one of the primary benefits of hi5, and this technology and team enables hi5 to deliver a much richer, more visual medium of interaction for users of our network," said Hi5 CEO Ramu Yalamanchi.
Post a Comment