Hi5 raises $20M in funding
San Francisco-based social networking startup Hi5 was reported to have raised $20M in funding with the help of Mohr Davidow Ventures.
Struggling to compete with social networking giants Facebook and MySpace, Hi5 has about 30 million members to date, serving up to 200 million pages a day. Compared to its counterparts, what makes Hi5 different is their conscious effort to regionalize their network across different major languages including Spanish, French, Dutch, Italian, Portugese, and Romanian. Because of this, Hi5 has gained popularity in Latin American countries.