The San Francisco, California, based startup, LOLapps, has raised $3.5 of $4.5 million in the Series A of funding. LOLapps is the creator of white-label Facebook applications. Currently the site is in stealth mode. The round was lead by Polaris Venture Partners.
Kavin Stewart is the founder of LOLapps. Previously he has worked as a product manager of Offermatica. He also co-founded MixerMixer. The company has also inducted a new board of member, Mike Hirschland.
There is still no word about the specific product or launch date, yet an announcement is expected by the end of current year. The newly inducted board of member thinks that the apps are capable of generating revenue on their own.
LOLapps consists of a prolific team. The team includes chairman Ariel Poler who is the CEO of TextMarks and other co-founders which includes Annie Chang who previously worked with BitTorrent, Brian Bue from hikkup.com and Kamo Asatryan who is a self-employed SEO.
Wasn’t Kavin Stewart fired from Offermatica?
[Reply]
Shoaib Hashmi Reply:
September 9th, 2008 at 12:15 am
I’m not certain if he was fired or resigned himself, but he is not working at Offermatica anymore.
[Reply]