RockYou Takes $1 Million In Interim Funding

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RockYou Takes $1 Million In Interim Funding

May 24 at 8:08pm by

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RockYou, the widget maker that helps you build slideshows and things, has taken on a $1 million dollar round of funding to tide itself over while sorting out some issues. What issues, you ask?

According to Matt Marshall at VentureBeat, the latest infusion is an interim measure taken to keep things moving steady as they try to sort out their valuation issues. The company had wanted to raise as much as $70 million on a valuation of $400 million, but due to changes in the market, those numbers now seem to be in flux. So, in short, this measure may just tide them over until things are sorted out, or until the co-founders, Lance Tokuda and Jia Shen, can find a buyer for the company.

The stopgap funding was raised from Doll Capital Management (DCM), which has a fund in the range of $500 million. RockYou’s inability to raise the round they were originally looking for may be an implication that things are finally leveling off after a period of very ambitious valuations. It certainly doesn’t signal a “bubble burst”, but perhaps a return to a more logical sensibility?mashable109:http://mashable.com/2008/05/24/rockyou-funding/ Ping This!