Deven Parekh will engage in duties as a Buddy Media Board Observer. Buddy Media helps advertisers manage their presence on the Facebook social network. Buddy Media obtained $54 million in venture capital recently.
Proceeds from the financial transaction will more than double sales, support staff, and product over the next year for Buddy Media. Additionally, the proceeds will pay for additional global offices and acquisitions.
The Company’s services are for Facebook, however, not exclusively – advertisers may also use Buddy Media for Twitter, among others, as they deem suitable. In 2011, Buddy Media has added nearly 200 new customers. This includes several of the globe’s most recognizable international retailers, brands, and media companies.