Thursday, August 21, 2008

Angel investor Scheinman joins MocoSpace board

By Mass High Tech Staff

JNJ Mobile Inc.’s mobile social network MocoSpace has added Jim Scheinman, former Bebo board member and current angel investor, to its board of directors.

Scheinman is a well-known name in the wireless and social networking space, having been an early employee of both Bebo, one of the largest mobile social networking sites in Europe, and Friendster, a California-based Internet social network. Bebo was sold to AOL LLC this past spring for $850 million. Friendster remains independent.

According to the company, Scheinman’s broad social networking, business development and viral marketing experience will “help MocoSpace widen its lead in the mobile social space by developing new approaches that leverage consumers’ increasing dependence on their mobile phones as their social lifeline.”

Boston-based MocoSpace reports 3.5 million registered users and nearly 2 billion monthly page views.

Founded in 2005 by Justin Siegel and Jamie Hall, JNJ Mobile Inc. and MocoSpace have raised $7 million in private funding, including a $4 million round in early 2008. Investors include Cambridge-based General Catalyst, New York’s Pilot Group and former eBay executive Michael Dearing.

The company is Siegel and Hall’s second venture together. The tandem sold its New York-based mobile gaming company JSmart Technologies Inc. in 2004 to SkyZone Entertainment, an affiliate of Korea’s SK Group.