Microsoft's spinoff social network site debuts
TechWeb | at | by Mike
Wallop, the social-network startup spun out of Microsoft Research Labs earlier this year, has landed $10 million in venture capital funding it will use to compete with Facebook, Friendster, and MySpace.
The company launched the site Tuesday at the DEMOfall 2006 conference in San Diego with a handful of investors. Backing the project are Norwest Venture Partners, Bay Partners and Consor Capital. Microsoft also retains an equity stake in the company, which is led by former Microsoft employees Karl Jacob and Sean Kelly.