California-based SocialVibe is launching its brand and charity promotion site this week, after disclosing a USD4.2m investment led by Redpoint Ventures. As part of the Series A round, which closed last Dec, Redpoint's Greg Martin has joined the firm's board of directors. SocialVibe members earn points by selecting a brand to sponsor their website. These points are transferred into money that is donated to the charity of their choice. Users can also earn perks such as gadgets or travels.
The site launched in public beta in Feb and says thousands of new members are joining every day, donating more than USD300,000 to 14 charities. Pilot partners include Coca-Cola, NBA, Sprint and Nestle and, on the charity side, World Wildlife Fund and One Laptop Per Child.
StrategyEye's related categories: Web Applications - Marketplaces
StrategyEye's related companies: One Laptop Per Child Foundation (OLPC), Sprint Nextel, Redpoint Ventures
