Funding to Support Membership Growth, New Marketing Initiatives, Strategic Hires
LOS ANGELES – June 25, 2008 - SodaHead, a leading opinion community focused on discussing today’s hottest topics, announced an $8.4 million Series B round of funding. Mission Ventures led the round with prior investor Mohr Davidow Ventures (MDV) co-investing. Funds will be allocated to new marketing initiatives and strategic hires designed to make SodaHead the #1 discussion community.
“SodaHead offers an incredible opportunity for individuals to express their opinions and meet similar people,” said Robert Kibble, managing partner, Mission Ventures. ”SodaHead’s community and upcoming initiatives are very exciting and I believe SodaHead will be one of the biggest sites on the Internet. Mission Ventures has made several investments in Internet/digital media companies and we are very excited to add SodaHead to our portfolio. SodaHead has an experienced management team for this opportunity and we believe in their vision and strategy.”
Since its launch in September 2007, SodaHead has gained over 600,000 members, has 3 million answers to questions and over 4 million comments discussing a broad range of topics such as politics, pop culture, music, relationships, sports and health. SodaHead was founded by Jason Feffer and Michael Glazer, who have been best friends since kindergarten.
“SodaHead is the Internet’s modern day town square where people meet, discuss, debate, share and socialize with other SodaHeads,” said Jason Feffer, co-founder and CEO, SodaHead. “The SodaHead platform empowers consumers to express themselves and takes the pulse of what’s happening online in real time. The site also offers unparalleled feedback on people’s likes, dislikes and opinions on hot topics which is a dream come true for advertisers looking to tap a highly engaged and targeted demographic.“
Mr. Feffer has over 10 years experience developing Internet companies. Prior to SodaHead, he helped start MySpace, which in 2003 sold to News Corp for $580 million. During his tenure at MySpace, Mr. Feffer served as vice president of operations as the membership grew to 100 million.
MDV led the Series A round of $4.3 million with other investors, including the Tech Coast Angels and Ron Conway.
SodaHead is a leading opinion community focused on discussing today’s hottest topics. If you have something that gets your noggin spinning, hit up SodaHead -- ask a question or add your two cents and see who else thinks like you. Share your views with your opinionated friends, your gossipy co-worker, your know-it-all ex or meet new friends. Pick your passion, whether its politics, pop culture, music, sports or relationships, you'll find SodaHeads who are all worked up about the same stuff you are! Take the discussion to your site like many celebrities, bloggers and media companies have using SodaHead’s customized poll widget to better engage their audience. Everyone with something to say belongs on SodaHead.