• All Things D, Monday, August 15, 2011 11:08 AM

Buddy Media, which helps advertisers manage their presence on social networks (i.e., Facebook), is now worth $500 million. "That's the valuation sources say the company earned in its most recent $54 million financing round," reports All Things Digital. New investor Insight Venture Partners put money into the company along with earlier investors Institutional Venture Partners, Bay Partners and GGV Capital, which led the round. None of the money will go to employee or early investors, Buddy Media CEO Mike Lazerow tell All Things D.

"Instead it will be used to fuel expansion in Europe and to double the size of the company's staff." The New York-based company has now raised more than $90 million, including a $28 million round last fall. As All Things D notes, "Buddy Media's services aren't exclusively for Facebook -- advertisers can use them for Twitter, as well." Also, as Google expands its social efforts, there will likely be room for Buddy there, too.

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