Photo-sharing Site Multiply Gains $6 Million Funds

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July 28, 2006 – Multiply, Inc. announced last week that the photo-sharing website has secured funds of $6 million for international expansion.

Business development company Transcosmos Investments funded $5 million of Mulitply’s funds, with the addition $1 million funded by the company’s founders.

The "popular social networking site," as Multiply calls it, allows users to share photos, music, and video clips. With personalized URLs, users can add blogs, post reviews, display schedules, and even add recipes to their site.

With home offices in New York and Florida, the company intends to expand to the Japanese market of 90 million Internet users, according to a July 17th press release. The plan for Multiply’s extension is "a smart move," stated Shin Nagakura, Transcosmos executive vice president and Multiply board member, in the press release.

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