image thumb214 SocialMedia pockets $6 million

SocialMedia, a social network advertiser grabbed $6 million from IDG Ventures along with participation from existing investors, Charles River Ventures. Although it’s pretty less than what it had been eying previously ($20 million or so), not sure why it settled for a lesser amount. It has been running into profits owing to the launch of its new service called Word of Mouth. Let’s see how the current year turns out for the advertisers.