Kiwibox Gets $1 Million Investment
The company launched an upgraded version of its digital content platform six weeks ago, and has seen substantial growth in daily new member registration (up by 75%) since Sept. 1. The revamp included a better casual games section and exclusive video content featuring teen VJs, among other features.
"The surge in traffic illustrates that the management team at Kiwibox is clearly on the right track in building the community," said Rudolf Hauke, CEO of Magnitude Information Systems, Kiwibox's parent company. "Our investment represents a continued confidence in the Kiwibox business model and will serve to expedite the company's growth, executing a robust marketing campaign to reach the teen audience."--Tameka Kee