Social applications maker Loomia raised a $5 million series A round led by VC firm Asset Management Company and joined by strategic investors NBC Peacock Ventures and Telefonica. Loomia’s main product is a Facebook app called SeenThis?, which allows users to see what their various friends are reading. The idea here is that a reader of the Wall Street Journal might want to know the stories their friends find interesting, in addition to links served up by behavioural and contextual targeting.
Loomia launched the application in January with the WSJ, NBC Universal and CNET. The company shares revenue with publishers from the additional traffic from social networks generated by the application. CEO Dave McMurtry said Loomia would use the funds to build additional products and to expand the reach of SeenThis? on other social network platforms.
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