Serial entrepreneur Mike Lazerow remembers the exact date when he came up with the idea for a social media advertising startup: May 24, 2007.

On that day, Lazerow's third child was born, and Facebook Inc. CEO Mark Zuckerberg unveiled the widely anticipated Facebook Platform, which led to the birth of Lazerow's Buddy Media, along with hundreds of other Facebook application startups.

Buddy Media helps major brands, such as Reebok, New Balance, Intel, FedEx and Bud Light, launch advertising campaigns on Facebook and other social networks.

In addition to an impressive roster of clients, Buddy Media has managed to attract $8 million in venture funding from VC firms Greycroft Partners, Softbank Capital, European Founders Fund and angel investors Peter Thiel, Howard Lindzon, Roger Ehrenberg and Marc Pincus.

 

In The Deal's Behind the Money video interview, Lazerow talks about the challenges and opportunities of advertising on social networks. Watch the video interview below or download it at iTunes. - Mary Kathleen Flynn



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