Freewebs Secures $11M Investment
September 11, 2006 — (WEB HOST INDUSTRY REVIEW) — Web hosting provider Freewebs (freewebs.com) announced on Monday it has secured an $11 million Series A investment co-led by Columbia Capital and Novak Biddle Venture Partners.
Freewebs enables users to establish Web presences that incorporate Web sites, photo albums, blogs, profiles, videos, live chat and e-commerce. Freewebs members can employ the servicess Web site publishing tools and network with a community of millions of other Freewebs users.
The new funds, says Freewebs, will enable the company to add to team of developers, enhance its members’ experience and build out its sales, marketing and product teams.
“When my brother Zeki and I founded Freewebs in 2001, we set out to create a service that even our mother could use,” says Haroon Mokhtarzada, co-founder and CEO of Freewebs. “We’ll never lose sight of that, and are indebted to the invaluable feedback of our members who continue to define the product.”
