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Tuesday, August 14, 2007

Doppelganger Gains $11 Million in New Funding

-Doppelganger, currently known for their music lifestyle-themed social world vSide (which recently went live), has announced it has raised $11 million in new funding in the latest round led by ComVentures, along with existing backers Draper Fisher Jurvetson, Trident Capital, Draper Richards, KPG Ventures and Greycroft Partners Michael Rolnick, a partner with ComVentures, will join the Doppelganger Board of Directors.

This latest round brings the amount of funding Doppelganger has raised to $25 million. The company says it will use the additional capital to accelerate and grow the business, create new participatory tools for users, and expand relationships with media partners and brands.

Worlds in Motion recently toured vSide and spoke to CEO Tim Stevens about the project, which focuses heavily on engaging users to be participatory, rewarding them with increased access and more velvet-rope privileges in vSide the more they contribute and connect.

"Doppelganger represents an entirely new entertainment medium focused on the things young consumers care about the most: music, entertainment, and fashion," Rolnick commented.

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Posted by Leigh Alexander on August 14, 2007 9:26 AM |

Comments

THIS WILL NOT FAIL MISERABLY ON ANY LEVEL

Companies like this are why bridges fail in Minnesota. Everyone is spending their time masturbating instead of building.

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