MyStrands raises $25 Million to lead the social recommendation industry.
Corvallis (OR), USA, June 18th, 2007.
MyStrands, a leading developer of social recommendation technologies, announced today that it has raised $25 million in Series B funding lead by Antonio Asensio, 25-year-old Spanish media mogul and CEO of Grupo Zeta, the third largest media group in Spain. Existing investors Debaeque and Sequel backed this round which brings total investment in the company to $31 million.
Founded in 2003, MyStrands develops technologies to better understand people's tastes and help them discover things they like and didn't know about already. MyStrands has developed a social recommender engine that is able to provide real-time personalized recommendations of products and services through computers, mobile phones and other Internet-connected devices. Currently, MyStrands employs a team of 50 people.
The future of the web is about personalization. Personalized TV stations, personalized advertising, personalized news, personalized shopping, personalized music and entertainment experiences, wherever you happen to be whether it's at home, on the go, at a friend's house or bar...This is what our team has been focusing hard on and where we are headed with this funding.
In a world of content overload, aggregating and understanding people’s preferences is going to be key to personalizing the way people access and enjoy digital content, says MyStrands’ CEO Francisco J Martin. The new funds will allow us to remain independent and continue investing in developing technologies and new services to help people organize and explore digital media.
Recommendation technologies will allow media companies to deliver personalized content and targeted advertising to consumers, says Antonio Asensio. MyStrands technologies could become the standard for content personalization on the Internet.
About MyStrands
MyStrands develops social recommendation technologies that help people organize and discover digital media, products and services they like. MyStrands’ technologies work across platforms in computers, mobile phones and other Internet-connected devices. More info: www.MyStrands.com/corp
About Antonio Asensio
Antonio Asensio is the CEO and owner of Grupo Zeta, the third largest media group in Spain. Now 25 years old, Asensio assumed control of Grupo Zeta at the age of 19. Since then, Asensio built-up the traditional publishing business of Grupo Zeta and he is firmly pushing forward into new areas for the company such as Internet, multimedia content, film production and distribution.
About Debaeque
DEBAEQUE is an independent venture capital firm, based in Barcelona since 2001 that is dedicated to investments in Telecommunications and Life Sciences. DEBAEQUE has a unique and distinguished focus in the field of investment with a special emphasis on generating business in their portfolio companies.
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