The social investment game is growing. Today Empire Avenue announced deeper integration by adding Instagram and Foursquare connectivity.
This is big news, because Empire Avenue is seeing no signs of tapering off – many of us spend a great deal of time within the environment networking, chatting, and meeting interesting people (and businesses) across the Social InterWeb.
But, the Foursquare and Instagram piece isn’t the biggest news. Empire Avenue has also announced they have secured additional funding, in the amount of $1.2 million, from San Francisco-Based Crosslink Capital, iNovia Capital and BioWare Co-Founders Drs. Ray Muzyka and Greg Zeschuk.
You can catch me on Empire Avenue here.
Here is an excerpt from the press release sent out today by Empire Avenue:
August 16 – Edmonton, AB, Canada. Virtual investment economy begets not-so-virtual economic investment as Empire Avenue locks in $1.2 million in funding. The investment round is led by the exceptionally savvy team at San Francisco-based Crosslink Capital, whose portfolio includes Pandora, Bleacher Report and Carbonite, and also features iNovia Capital, with prior investments like Collective, Tynt and Well.ca, as well as BioWare co-founders Drs. Ray Muzyka and Greg Zeschuk.
Empire Avenue is the world’s only social stock market, where you are the “company” and your product and value is determined by what you do online and the networks you create. A social platform centered on your social currency, the site allows everyone to embrace and grow their personal brand, make new value-based connections online and get the most out of social media. Empire Avenue offers a range of metrics to show users the value of their networks on sites like Facebook, Twitter, YouTube, LinkedIn and Flickr. To coincide with today’s investment news, Empire Avenue has also added scoring for Foursquare and Instagram, solidifying its position as the most comprehensive measurement of network value.
Additional investors in this round carry a tremendous level of experience and expertise in the games and social spaces. Ben Narasin and TriplePoint Capital (who incubated Empire Avenue in Silicon Valley), former THQ and Take-Two executive Jeff Lapin, as well as Kevin Swan and Dr. Boris Wertz of Vancouver-based W Media Ventures, round out the investors in Empire Avenue, which now has users in more than 190 countries.
“We’re really excited to be backed by such a respected group of investors, who’ve all shown that they believe in the long-term potential of our socially-driven economy,” said Duleepa Wijayawardhana, CEO of Empire Avenue. “We will be leveraging the experience and involvement of all our incredible investors to grow the company and explore new ideas, platforms and connections to further develop Empire Avenue. It’s about to get really fun for us, our new and existing users, and the brands who have already partnered with us.”
“The Empire Avenue team has an ambitious long-term vision for its platform, and we’re excited to help them make that vision a reality,” said Eric Chin, Partner at Crosslink. “They already offer a great product that’s generating revenue and providing a lot of value to users from around the world by helping them build deep relationships and get insight into their social media engagement and network value. We have a lot of faith in the team’s ability to expand the platform into a very strong, profitable business.”
“We are really excited by the growth and future prospects of Empire Avenue,” said Kevin Swan, Principal at iNovia Capital. “Managing your online brand and social influence, as an individual or a company, has become extremely important in our digital age. Empire Avenue’s platform provides a fun and engaging way to measure and track your activity across the social web.”
- “Branded Luxury” Comes To Empire Avenue (thetechscoop.net)
- MyEmpire iApp Gets An Update (thetechscoop.net)