# Somo Enterprises

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/somo-enterprises

- Industry: Internet
- Headquarters: Mountain View, US
- Website: www.friend.ly
- Total disclosed funding: $6.8M
- Latest round: Series A (Apr 15, 2011)
- Investors on record: 4

## About

Somo Enterprises Inc operates as a digital platform specializing in social engagement, fostering user interaction and community development through innovative online solutions.Founded in 2009, Somo Enterprises Inc is located in Mountain View, US, and focuses on creating platforms for social engagement. The company was acquired by Facebook in October 2011 after securing funding from notable investors such as Balderton Capital and Lightspeed Venture Partners, raising a total of USD 5.00 mn through a Series A round. The founders have a history of creating impactful digital solutions, although specific individual backgrounds are not provided.Friend.ly specializes in providing innovative social engagement platforms that facilitate user interaction and community building. Their core products revolve around digital solutions designed to enhance online communications, primarily targeting the social media landscape. These platforms aim to address the growing need for meaningful connections among users, particularly in digital spaces that foster collaboration and community sharing. Among their key client base are younger demographics, including millennials and Gen Z, who utilize these tools for both personal and professional networking. Friend.ly's products are available in various geographical markets, including North America and Europe, where they have established a foothold in the competitive social media industry.Friend.ly generates revenue through subscription-based models and strategic partnerships that enhance their service offerings. Their transaction structure primarily involves direct-to-consumer sales, where users subscribe to premium features of the platform for an enhanced experience, ensuring a steady stream of income. In addition, Friend.ly collaborates with brands for promotional partnerships, allowing for integrated marketing opportunities within their platform. This dual approach not only broadens their revenue channels but also solidifies their position in the market. The pricing plans are structured to cater to a diverse audience, offering various tiers that suit different user needs and preferences, thus maximizing accessibility and user engagement.Following the acquisition in October 2011, Somo Enterprises Inc plans to leverage its foundation to develop new products aimed at enhancing user interaction on its platforms. Specific details about upcoming launches have not been disclosed. The company is also exploring expansion into additional geographic regions, targeting markets in Asia and South America by 2013. The recent funding will aid in refining their existing platforms and exploring innovative features that enhance user experience.

## Funding rounds

- Series A, Apr 15, 2011, $5M — Lightspeed Venture Partners, Balderton Capital, SV Angel, Uncork Capital
- Series A, Dec 12, 2008, $0.3M — Lightspeed Venture Partners, Uncork Capital
- Series A, Sep 5, 2008, $1.6M — Lightspeed Venture Partners

## Investors

- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series A
- Uncork Capital (https://capitalatlas.ai/funds/uncork-capital) — Series A
- Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Series A
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Series A