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Social Net Hi5 Raises $15 Million Venture Debt

By Joseph Weisenthal - Tue 29 Jan 2008 09:59 AM PST

SF-based social network Hi5 has taken $15 million in venture debt from Hercules Technology Growth Capital. The site, which originally targeted Indian expats but now has a more global outlook, raised $20 million from Mohr Davidow Ventures last summer. It claims to be in the top 10 globally in terms of traffic and the new backers touted the site Hi5’s ability to localize for various regions. The company didn’t offer any specifics on what it plans to do with the funding, other than to expand and invest in its service. Release.

Posted in: Social Media, Venture Capital

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From BlogsDNA Fri 20 Jun 2008 10:00 AM

I have used Hi5 in past and found it to be really good social networking Service but Hi5 has competition with really big gunz like orkut,facebook and not to forget myspace.
This funding might help hi5 to improve their service and get more features to increase their user base.