Wetpaint Raises $25 Million In Financing
The Seattle-based company has raised a total of $40 million to date. Wetpaint said the new funding would be used to accelerate adoption of its social publishing platform. Advertisers including HP, T-Mobile, Dell and Showtime have used Wetpaint software to created branded sites inviting user-generated content.
Along with the capital infusion, the company on Monday also announced Wetpaint Injected, a tool that helps Web publishers allow users to create their own sites. The new offering is free to publishers for up to 100,000 impressions per month. After that, they are charged on a revenue-share or CPM basis.
Wetpaint declined to confirm or deny a report in the BoomTown column of The Wall Street Journal's AllThingsD site that Fidelity Investments was involved in the company's latest funding.