Spanish Social Network, Wamba, Scores 3M Euros in Funding from Early Skype Investor

Next Story

LongJump's Library Of Customizable Business Apps

¡Que rico! Early Skype investor Morten Lund has gained 40% ownership of Wamba after making an investment of 3M euros in the Spanish social network.

Wamba launched this past March as a Pan-European social network but has recently focused on Latin America where it will compete with hi5, MySpace, and Orkut (although apparently with the intention of capturing the Spanish-speaking, not the Portuguese-speaking, market). The company plans to launch an IPTV called Wamba.TV and a radio music service called Wamba.FM.

Funding for Wamba previously came from Matias de Tezanos, who contributed $500,000 as an angel investor. The company was founded by Spanish entrepreneur Enrique Dubois.

Skype was acquired by eBay in 2005 for $2.6 billion. Wamba is presently valued at 7.5M euros.

blog comments powered by Disqus