DIGITAL MEDIA

Aussie social media start-ups go global

Mobile social networking company migg33, online arts community RedBubble and mobile social media outfit BluePulse have been ranked as the top three Australian social media startups of 2008, by social media analyst group Metarand.com.

In aggregate, these three companies have raised over US$31 million in venture funding, including from tier one Silicon Valley VC firms.

Metarand director Randal Leeb-du Toit said, “after extensive analysis of the Australian start-up scene, these chosen companies are ahead of the game in the fast growing social media space. He added that the companies were chosen for their global reach establishing millions of users in over 200 countries.

Metarand’s analysis was based on the metrics of time, traction and trajectory.

All companies are less than three years old and started their life in Australia. For inclusion in the study they also needed to be operating in the social media arena with a key focus on end users and not be an enterprise player.

In determining the Top 3, Metarand analysed over 120 start-ups and noted an increasing level of activity in social media in Australia.

“There has never been a better time to launch a social media venture than right now, said Leeb-du Toit. “The Top 3 are testament to the fact that it is possible to attain instant global reach and that the can do, entrepreneurial sprit is alive and well in Australia.”

mig33, founded in Perth and based in San Francsico has raise the moist capital of the three securing $10 million from Technology Venture Partners, Accel Ventures, Redpoint Ventures, and $13.5 million from Doll Capital Management and Series A investors. migg33 currently 13 million users in over 200 countries which use the Australian developed integrated mobile download application that offers mobile users cheaper VoIP calls and data rates. The social media application allows users to email, send instant messages, create chat rooms, text, have profiles and share photos.

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