SocialMedia Raises $3.5 Million First Round Funding

Social network platform provider SocialMedia Networks has raised $3.5 million in its first round of funding. The round was led by Charles River Ventures that also included Marc Andreessen and Jeff Clavier (founder and managing partner of SoftTech VC) reports TechCrunch. A month ago we noted that much the same funds had invested $1 million in the company. The company has about ten Facebook applications, including the Happy Hour app that has more than 4 million users and Foodfight that has over 2 million, and is focusing on Facebook and MySpace. It has also launched a pay-per-install marketplace that any advertiser or developer can use to promote or monetize their apps and is working with some affiliates (other app developers) to promote and host their apps.