Transcosmos backs the only site to integrate content-publishing with social network-based communication.
BOCA RATON, FL (PRWEB) October 21, 2005 -- Multiply Inc. (http://multiply.com), a service where users share and discuss digital media such as photos and videos with their social network, announced today that it has secured funding from Transcosmos Investments to expand its growing business.
Multiply is the only site to integrate social network-based communication with tools for publishing photo albums, videos, blogs and calendars, letting users share with everyone they know, either directly or indirectly. The service was designed for the growing majority of people who share content to keep in touch with friends and family, as opposed to publishing for the masses. More than 1.5 million people have registered on Multiply as of October 2005.
"We're gaining momentum as more and more people recognize Multiply as the leader in social communications," says Peter Pezaris, Multiply's founder and CEO. "The combination of powerful publishing tools and a proprietary messaging system enables our users to communicate in ways that were previously impossible, and is perfectly suited to the sharing of digital content -- filling a market need created by the proliferation of digital capture devices such as digital cameras and video cameras. Simply put, there is no better way to share your photos, video, or blog on-line, and we're excited at the opportunity this investment represents to accelerate our growth."
As part of the agreement, Multiply and Transcosmos will form a partnership to operate a Japanese language version of the Multiply web site. Shin Nagakura, executive vice president of Transcosmos Investments, will join Multiply's Board of Directors.
"We are big believers in Multiply's innovative approach to sharing content," says Mr. Nagakura. "Multiply offers a 'one-stop shop' with so many different types of content in one place, combined with easy tools for sharing. We are excited to make this investment in a service that is becoming significantly more popular."
About Multiply Inc.
Multiply Inc., based in Boca Raton, FL, is privately owned and operated, with funding from Transcosmos. The company's flagship product, Multiply (http://multiply.com), is at the forefront of the growing field of social communications.
About Transcosmos Investments & Business Development, Inc.
Transcosmos Investments & Business Development, Inc., a wholly owned subsidiary of Transcosmos, Inc. with offices in Bellevue, Wash., and San Jose, Calif., is a strategic corporate investor and an active local business partner for Internet-based U.S. technology companies expanding into the Japanese marketplace. It is the international partner-of-choice, offering capitalization of joint ventures, infrastructure development, strategic relationships, staffing and localization to companies in the U.S. technology sector - effectively creating a pipeline of technological information to Japan. Transcosmos Investments' portfolios, which focus on companies specializing in digital marketing, e-commerce and digital media, include such marquee brand names as AskJeeves, Inc./Bloglines, DoubleClick Inc., RealNetworks Inc., NetRatings Inc., Atom Shockwave, Inc., Become Inc. and CinemaNow, Inc. For more information, please visit: http://www.transcosmos.com.
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