Tagged Inc. Secures $7 Million in Venture Capital Funding Company Pursues Market Opportunity for Capturing Share of Mind in Burgeoning

Online Teen Marketplace



    SAN FRANCISCO, Feb. 8 /PRNewswire/ -- Tagged Inc. announced today the
 company has raised $7 million in its first venture capital funding effort.
 Led by Mayfield Fund, a respected, early-stage investor with deep domain
 experience in consumer internet technology, the new funding will enable the
 company to expand the services and features of its rapidly growing
 social-networking portal for teens -- Tagged.com. With more than two million
 registered teens today, Tagged is poised for leadership in the competitive
 online teen marketplace.
     Unique to Tagged is the management team's expertise in building highly
 successful online businesses.  The executive team includes co-founder and CEO
 Greg Tseng, co-founder and CTO Johann Schleier-Smith, COO Karen Cassel, Vice
 President of Sales, Business Development and Legal Affairs Duncan Haberly,
 Vice President of Information Technology Jim Rodriguez, Vice President of
 Engineering Gordon Kass and General Counsel Louis Willacy.  The company's
 Board of Directors includes internet pioneer and industry leader Reid Hoffman,
 known for his PayPal and LinkedIn success, as well as Scott Banister,
 co-founder and Vice President of Corporate Strategy for IronPort.  Raj Kapoor
 and Allen Morgan, both managing directors at Mayfield, have also joined the
 Tagged Board of Directors in connection with the Mayfield investment. Detailed
 biographies for the executive team are available at
 http://corp.tagged.com/management.html .
     "Mayfield is excited to support Tagged in their efforts to develop a media
 portal specifically targeting teens, because we recognize that teens are the
 most advanced market in terms of new media consumption and are actively
 searching for online 'hangouts'," stated Kapoor.  "Tagged has already proven
 it can exponentially grow its online teen community by amassing over 2 million
 members in a short period of time with a minimum outlay of marketing dollars.
 We're confident that the Tagged management team has both the passion and
 experience needed to continue to propel Tagged into a leadership role in the
 teen online market."
 
     Tagged -- The right place at the right time
     Today's teens are unlike any other generation in American history.  The
 millennial generation has been exposed to, and grown up with, a multitude of
 ever-advancing communications technologies; from cell phones to instant
 messaging, these technologies have become a fundamental and essential part of
 teen life.  However, unlike any other medium or technology, the internet has
 changed not only the way this generation shops or obtains information, but the
 means by which they interact and socialize.
     More teens are online now than every before.  A July 2005 report issued by
 the Pew Internet and American Life Project entitled "Teens and Technology"
 ( http://www.pewinternet.org/PPF/r/162/report_display.asp ) found that nearly
 9 out of 10 teens, or nearly 25 million teens, are online today.  This
 represents an increase of 24% in the past four years.  In addition, the report
 stated that more than 50% of teenage internet users go online daily, up from
 42% in 2000.
     This significant increase in teen internet-usage, combined with the fact
 that teens will spend and influence over $400 billion in purchasing this year
 including their own cash and their parents money (according to The TRU Study,
 the nation's premier teen marketing and lifestyle survey published by Teenage
 Research Unlimited), confirms Tagged is clearly targeting the right market
 segment, at the right time.
     "The additional funds will enable Tagged to continue building a fun, safe,
 and exciting environment for teens to showcase their personalities and
 talents, while offering advertisers a laser-focused vehicle aimed at the
 unique teen marketplace," said Greg Tseng, co-founder and CEO at Tagged. "This
 new financing will enable us to strengthen and expand our infrastructure to
 support the innovations and features demanded by our rapidly growing
 membership and sponsors."
 
     Rapid, Exponential Growth in Teen Registration
     Membership on Tagged.com continues to grow rapidly and exponentially,
 reaching 1 million in the first 12 months of operations, but requiring only 3
 months to attain the second million members.  More impressive are the
 statistics relating to unique visitors, pageviews, and the time spent on
 Tagged.com.  According to comScore's Media Metrix Internet audience ratings
 measurements, Tagged.com achieved 2.4 million unique visitors and 391 million
 pageviews in December 2005, with members spending 2.5 million hours on the
 site.
 
     About Tagged
     Tagged.com was launched in 2004, and is an explosively growing
 social-networking portal developed specifically for teens aged 13 through 19.
 Emerging as the premier brand in the lucrative teen demographic, Tagged is
 rapidly becoming the number one teen site on the web. For more information
 visit Tagged at www.tagged.com or contact the organization at
 press@tagged.com.
 
 

SOURCE Tagged, Inc.

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