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Sunday, November 8, 
7:41 pm

Fidelity Ventures high on Flock's browser tech

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Despite raising less than $15 million in its first three funding rounds since forming three years ago, social media browser developer Flock landed that amount in a Seris D round led by late-stage financial investor Fidelity Ventures to build on the startup's explosive recent growth and R&D.

Previous investors Bessemer Venture Partners, Catamount Ventures and Shasta Ventures all participated in the round, which comes on the heels of 250% growth in Flock's user base since January and a 400% increase in revenues for that period. Flock's product is designed around open-source Mozilla Firefox browser technology, and is optimized for social media functions including information-gathering, sharing, communication, self-expression and interaction.

cheng.jpg"The browser is strategic because it enables nearly everything users do online," said Larry Cheng (pictured) partner at Fidelity Ventures, in a statement.  "Flock's social browser is the most compelling innovation in the browser market in over a decade. The reasons we invested are simple: great product, fantastic user adoption, and excellent revenue growth."

Flock and other specialized browser developers including Maxthon Inc. of China and Norway's Opera ASA generate per-click revenues from results directed to commercial sites and are exporing other revenue models as new features and services emerge. -- Clifford Carlsen

See May 22 press release from Flock
See May 21 post from TechCrunch


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