Deven Parekh will engage in duties as a Board Observer With Buddy Media. Buddy Media helps advertisers manage their presence on the Facebook online community. The Company obtained $54 million in venture capital recently.
Proceeds from the transaction will more than double sales, support staff, and product over the next year for Buddy Media. Additionally, the proceeds will fund additional worldwide offices and acquisitions.
The Company’s services are for Facebook, however, not exclusively – advertisers may also use Buddy Media for Twitter, and others as they consider fit. In 2011, Buddy Media has added nearly 200 new customers. This consists of a number of the world’s most well-known worldwide retailers, brands, and media enterprises.