Thefacebook Gets $12.7 Million Funding

TheFaceBook, the hot-as-hell college/social media networking site, has received $12.7 million in venture funding, its first intitutional round, from Accel Partners. Previously, private angels gave the company $500,000…

A number of key executives have also joined the company. Sean Parker, formerly co-founder of Napster and Plaxo, has joined in the role of President and has been working with the company for ten months. Matt Cohler, formerly VP of Business Development at LinkedIn, has joined as VP of Corporate Development.

Founded in February 2004 by Harvard University undergraduate Mark Zuckerberg, the site is free and accessible to anyone with a college e-mail account. Members of the network are encouraged to create a profile including pictures, interests, favorite quotes, class schedules, and even instant messenger screen names and phone numbers.

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