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Tagged Pumps Up Social Discovery Efforts With Acquisition of hi5Triples Registered Users to a Combined 330 Million Worldwide (December 14, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 12/14/11 -- Tagged, the social network for meeting new people, today announced it has completed the acquisition of hi5, another pioneering social network and one of the largest online communities in the world. Together, Tagged and hi5 create a unique social networking company that will dominate the social discovery category.
With over 230 million registered users, hi5 joins Tagged and its over 100 million registered users to create a social networking powerhouse, the largest social discovery network in the U.S. and worldwide. Initially, hi5 and Tagged will operate as two independent and freestanding brands. Tagged has plans to update both products in the coming months to offer users an improved social discovery experience. Financial details of the acquisition were not disclosed.
"An opportunity of this magnitude is uncommon and exciting as the addition of hi5 immediately doubles our overall active user base and grows combined registered users past 330 million members," said Greg Tseng, Tagged cofounder and CEO. "hi5's global footprint complements Tagged's and instantly builds on our leadership position as the world's first, largest and best social network to meet new people."
"Tagged is the perfect home for hi5 as it continues to prove itself as a major contender in social," said Alex St. John, president and chief technology officer of hi5. "At hi5 my colleagues and I recognized the unanswered opportunity to connect new people online, and I'm thrilled that Tagged is making strides to fulfill this mission."
A story in full circle, in 2003 Tagged and hi5 were both created with the help of Stanford Ph.D. candidates Johann Schleier-Smith and Greg Tseng. In 2005, Greg and Johann made the decision to dedicate themselves full-time to Tagged. Now, as 2011 closes, Tagged and its founders welcome hi5 to the family, with an opportunity to grow the networks and tackle the social discovery space with more momentum than ever.
Tagged is the social network for meeting new people. While other offerings focus on existing relationships, Tagged has established the category of social discovery. With over 100 million members in 220 countries, Tagged enables anyone to meet and socialize with new people through social games, customized profiles, virtual gifts, advanced browsing features and more. Tagged is based in San Francisco. More information is available at http://about.tagged.com
Founded in 2003, hi5 is among the top 10 social networks in the world as a leading social entertainment destination. Combining a robust social platform with premium content and game mechanics, hi5 delivers a fun, expressive, and interactive entertainment experience to millions of users around the world. Available in over 50 languages, the site features localized games, virtual goods and other content that is monetized through hi5 Coins, a global virtual currency supporting over 60 payment methods and 30 currencies worldwide. For more information on hi5, visit http://www.hi5.com.
Natron Communications for Tagged
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