Summary:

Tagworld, a MySpace competitor has raised undisclosed millions from Draper Fisher & Jurvertson. One question: why the mystery and why the press release if you don’t want to disclose the funding. (Okay that’s two questions!) Oh wait, it is to let the world know that Tim […]

Tagworld, a MySpace competitor has raised undisclosed millions from Draper Fisher & Jurvertson. One question: why the mystery and why the press release if you don’t want to disclose the funding. (Okay that’s two questions!) Oh wait, it is to let the world know that Tim “King of Free” Draper is joining the board of directors.

Don’t count on a Skype-like exit, as yet guys! Given all the problems facing MySpace, I wonder if anyone will exercise caution when it comes to social networking investments. Another company, Tagged recently raised $7 million from Mayfield. Other notables on Tagged board of directors, Reid Hoffman and Peter Thiel.

Comments have been disabled for this post