Update: The original post incorrectly stated that KickApps had raised $20 million in Series B funding. It seems that the $20m figure — which seemed confirmed by this SEC filing KickApps.pdf – included the Series A, Series B and some venture debt. Apologies for the error.
KickApps, a developer of social networking tools for existing websites, has raised $11 million in second-round funding. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital. A source says that the pre-money valuation was “in the low-to-mid $20s.”
Expect a press release within the next 24 hours.
KickApps is one in a series of companies that offer white-label social networking tools, which allow website operators to add everything from user-generated video to 3D widgets. Its largest competitor is Ning – a Marc Andreesen venture that just raised $44 million – although it focuses more on brand-new and/or amateur websites, while KickApps is aimed at existing websites and/or experienced developers.
TechCrunch recently did a comparison post on the two companies, plus another seven other companies in the space (including VC-backed CollectiveX and GoingOn Networks).
KickApps raised just over $6 million in its first round of funding last year, which means that it’s nearing the tender age of acquisition-readiness. But don’t expect anything soon, as I hear that the VCs view KickApps as a triple-digit exit sometime down the road. It also has been known to be snooping around some potential acquisition targets of its own…
A KickApps spokesman declined comment.
|
|
8-13 Linkdump » The Progress Bar
[…] KickApps kicking ass, raises $20 million. That was one of the tools I want to use in my “revenue producing social app in 60 minutes” demo at Webinno. […]
KickApps Raises $11M Funding, Not $20M | Tekjuice.com
[…] There are widespread reports today that social network builder KickApps has raised a large $20 million Series B round. They have indeed raised a round, but the amount is incorrect; they’ve actually raised $11 million, and have allowed us to correct the record. The release is due to go out on Tuesday. […]
Techzi » Blog Archive » KicksApps Scores $20 Million (Dan Primack/PE HUB)
[…] KicksApps Scores $20 Million — peHUB has learned that KickApps, a developer of social networking tools for existing websites, has raised $20 million in second-round funding. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital. Source: PE HUB Author: Dan Primack Link: http://www.pehub.com/wordpress/?p=1330 Techmeme permalink […]
proxieslist.net
[…] There are widespread reports today that social network builder KickApps has raised a large $20 million Series B round. They have indeed raised a round, but the amount is incorrect; they’ve actually raised $11 million, and have allowed us to correct the record. The release is due to go out on Tuesday. […]
KickApps Raises M Funding, Not M | moraaz.org - feed all tech!
[…] There are widespread reports today that social network builder KickApps has raised a large $20 million Series B round. They have indeed raised a round, but the amount is incorrect; they’ve actually raised $11 million, and have allowed us to correct the record. The release is due to go out on Tuesday. […]
KicksApps Scores $20 Million (Dan Primack/PE HUB)
[…] KicksApps Scores $20 Million — peHUB has learned that KickApps, a developer of social networking tools for existing websites, has raised $20 million in second-round funding. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital. […]
Technology News Daily
[…] There are widespread reports today that social network builder KickApps has raised a large $20 million Series B round. They have indeed raised a round, but the amount is incorrect; they’ve actually raised $11 million, and have allowed us to correct the record. The release is due to go out on Tuesday. […]
fresh wordpress installation » White Label Social Network Kickapps Gets $11 Million Second Round Funding
[…] Kickapps, the NYC-based white label social networking software firm, which had been out on the road for a while raising a new round, has now closed it: it has received a total of $20 $11 million (corrected after the company officially sent out the word) in second-round funding, reports PEHub, citing sources. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital, the story says, and that the pre-money valuation was “in the low-to-mid $20s.” […]
ShemTechnology.com » Blog Archive » KicksApps Scores $20 Million (Dan Primack/PE HUB)
[…] KicksApps Scores $20 Million — peHUB has learned that KickApps, a developer of social networking tools for existing websites, has raised $20 million in second-round funding. SoftBank Capital came aboard as a new investor, but the terms were effectively set by return backers Prism VentureWorks and Spark Capital. Source: PE HUB Author: Dan Primack Link: http://www.pehub.com/wordpress/?p=1330 Techmeme permalink […]
Chuck D
Thanks for the correction. Weird that the filing would be so different than reality.
ShemTechnology.com » Blog Archive » KicksApps Scores $11 Million (Dan Primack/PE HUB)
[…] KicksApps Scores $11 Million — Update: The original post incorrectly stated that KickApps had raised $20 million in Series B funding. It seems that the $20m figure — which seemed confirmed by this document KickApps.pdf - included the Series A, Series B and some venture debt. Apologies for the error. Source: PE HUB Author: Dan Primack Link: http://www.pehub.com/wordpress/?p=1330 Techmeme permalink […]
Private Equity HUB - What the &*?#@ Happened with KickApps?
[…] Yesterday I reported that a company called KickApps had raised $20 million in Series B funding. This was incorrect – the company had raised $11 million (still a strong showing within the white-label social networking world). […]
Techzi » Blog Archive » KicksApps Scores $11 Million (Dan Primack/PE HUB)
[…] KicksApps Scores $11 Million — Update: The original post incorrectly stated that KickApps had raised $20 million in Series B funding. It seems that the $20m figure — which seemed confirmed by this SEC filing KickApps.pdf - included the Series A, Series B and some venture debt. Apologies for the error. Source: PE HUB Author: Dan Primack Link: http://www.pehub.com/wordpress/?p=1330 Techmeme permalink […]
KickApps Raises $11M Funding, Not $20M
[…] There are widespread reports today that social network builder KickApps has raised a large $20 million Series B round. They have indeed raised a round, but the amount is incorrect; they’ve actually raised $11 million, and have allowed us to correct the record. The release is due to go out on Tuesday. […]