Kiwibox Secures $1M Investment
ADOTAS – Teen social network and online magazine Kiwibox has secured $1 million in funding from a private investor base. The money will go toward marketing strategies, the company said.
Kiwibox, the primary business unit of Magnitude Information Systems, released Kiwibox 2.0 six weeks ago and reports an increase in daily new member registration of more than 75% in September alone.
“The launch of Kiwibox 2.0, including enhanced profiles, daily entertainment news, revamped game section, and exclusive video content featuring teen VJs, has attracted an influx of new members,” said Lin Dai, CEO of Kiwibox. “Teens and their friends are driven to the site because of the new features and the ability to connect through content in ways that aren’t available on other social networks. We expect our community to continue this impressive growth as more teens realize the promise of the Kiwibox platform, letting them truly express themselves in a variety of ways.”
Since its founding in 1999, Kiwibox has set out to become the premier online distribution and marketing channel, connecting advertisers with the highly sought after teen audience, in a controlled and interactive environment.
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