Pakistani Social Networking Company Naseeb Gets Second Round Funding
By Rafat Ali - Wed 23 Jan 2008 04:46 PM PST
We don’t necessarily cover Pakistan, but this is an interesting funding in a country where brand name VCs don’t usually do digital media investments: Naseeb Networks, a Pakistani online recruitment, social networking, and classifieds company, has received an undisclosed amount of venture investment from two Silicon Valley VC firms, ePlanet Ventures and Draper Fisher Jurvetson. Naseeb will use the funding to accelerate its growth and leadership position in target markets by investing in sales force and marketing expansion and enhancing its product portfolio.
The company runs a social network at Naseeb.com (sounds more of a matrimonial site though it doesn’t explicitly say so), online jobs site Rozee.pk and three other sites. The company, which was founded in 2003, says it has been cash flow positive since 2004, and has 42 employees across its offices in Pakistan and San Jose in California. It said it did a seed round from angel investors including executives from Paypal, LinkedIn, Excite and Cisco (NSDQ: CSCO). More details in the release here.
Posted in: Jobs, Social Media, Venture Capital
