UPDATED 14:57 EDT / NOVEMBER 08 2010

mig33 Snags $8.9M for Social, Mobile Networks & Games

mig33 a mobile social networking site has been gaining popularity across the globe. In the wake of the need for expansion, the company has managed to raise $ 8.9 million in the round C funding. This funding round was led by Pak Sugiono Wiyono, an Indonesian telecom entrepreneur and GREE, Inc., Japan’s leading social networking service. It must be noted that the company already has financial backing from silicon valley investment firms as Accel Partners, Redpoint Ventures and DCM.

The funding will go towards furthered expansion, which is nigh, as social mobile networking really begins to show its relevance in the space.  mig33’s efforts will be somewhat focused in the entrainment department, which is a trend we discuss as things like high-definition find their way into the mobile space as well.

In a statement, company CEO Steven Goh expressed his and company’s aspirations as follows:

“mig33’s goal is to replicate the East Asian Social Networking Service model to the rest of the world,” said Steven Goh, CEO and co-founder of mig33.  “The partnerships we’ve established today will be strategic in helping us consolidate our lead in emerging Asia, as we tap these big, underserved markets.”

The rise in smart phone users and better internet usage options have lead to the popularity of mobile social networking. One of mig33’s leading edges is its recently launched social gaming platform, which hops on another bandwagon–one that’s already demonstrating high returns, particularly for platform owners.


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