MyCube Announces US$8M in Funding from Black Ocean and Other Prominent Investors

News provided by

MyCube

24 May, 2011, 15:00 GMT

SINGAPORE, May 24, 2011 /PRNewswire/ --

- Funding allows for team expansion coinciding with imminent beta launch of the world's first Social Exchange(TM)

MyCube announced that it has closed funding from Black Ocean Group and other prominent individual investors. This brings the company's total funding to over US$8 million.

MyCube is the world's first "social exchange", a next-generation social network which gives individuals full privacy, ownership and control of their digital lives and enables them to connect and share with others on their own terms.

"While social media has been a great development, it is now clear that there are some fundamental flaws in the relationship between these services and their users," said Johan Stael von Holstein, MyCube CEO. "These services don't respect our privacy, try to get us to share more than we want, stake a legal claim to our content and determine how we interact with each other. At MyCube, we believe that your digital life is yours to own, control and monetize, and we are launching a service that enables exactly that."

The company was founded in 2008 by Swedish serial entrepreneur Stael von Holstein and 3 others, is led by a highly experienced management team, and has over 40 employees based in Singapore. This round of funding validates significant company success to-date. "This is an exciting time for the company and we're thrilled to be involved in the growth of what we see as an industry-disrupting offering," continued von Holstein. "With this new round of funding we will have fully in place the resources we need to build the next great internet company."

About MyCube

MyCube is the world's first Social Exchange(TM), allowing individuals and organizations to store and share their information, updates and content with others, while retaining full privacy, ownership and control. To request an invitation to MyCube, please visit http://www.mycube.com, or for more information please see http://news.mycube.com or email info@mycube.com. 

    
    Media contact:
    Todd Kurie, Marketing
    Director
    +65-6536-4280
    tkurie@mycube.com