Wubud, a mobile social network currently in stealth mode, has completed an Angel round of investment from a sole angel – Paul Birch, co-founder of Bebo with brother Michael which this year sold to AOL for $850m. The amount of funding was not disclosed but is understood to be in the low six figures is £150,000, which suggests that this is “lift-off” money (enough to build a solid beta).
The startup is headed up by Paul Walsh, the still current CEO of Segala, a company which issues certification for Web and mobile services. Walsh is a prolific blogger and Twitterer and for an April Fool this year claimed, on his Twitter and Facebook accounts, that he’d sold Segala for a rumoured £25m, causing a flurry of speculation. As TCUK confirmed, he hadn’t.
However, this investment into Wubud appears real enough. Birch says Wubud “caught my eye” because it will be built around a mobile application. Details are scant on this but I understand it wil be a java application revealing location and presence, as hinted by our story in April.