*Update: The company tells DMW that it has not raised $23 million in new financing, and that the filings mentioned in the linked article below reference previous financing, landed over a year ago.
– Online social network hi5 has raised $23 million in new funding, including $3
million in debt, VentureBeat reported, citing regulatory filings.
investors were not provided.
Founded in 2003, San Francisco-based hi5 counts
over 50 million monthly visitors, and claims to be the third-largest social
The company last year decided to focus more on social games,
acquiring developer Big Six and hiring Wild Tangent founder Alex St. John as
its president and CTO.