Social networking site Hi5 14 million dollars for a social game

According to foreign media reports, almost forgotten gaming social networking site Hi5 recently won 14 million of dollars in venture capital. The lead for this round of investment is Crosslink capital, and it is understood that Hi5 's current round of financing also includes the $300 trillion of debt financing from Mohr Davidow VC Company in April.　　At present, the company's total financing has exceeded 34 million U.S. dollars. Hi5 this round of financing will be used to expand social games and virtual goods business. Hi5 has been actively promoting the site's revision to cater to the changes in the game industry, recently the company has just completed its acquisition of Big Six, a gaming start-up.　　Last fall, Hi5 enabled a fully updated web site, using new virtual systems, with more emphasis on game attributes and the use of virtual money. Last December, Hi5 hired game veteran Alix John (Alex St John), the company's new president, to lead the social networking site.　　The company had not been well off because of layoffs, and had hired a chief executive, Bill Gossman, Bill Gossman. For Hi5, moving into the gaming industry is not a bad idea, but it clearly cannot rival Facebook at the moment. Hi5 has only 60 million users, while Facebook has 500 million users. At the same time, Hi5 also needs to face many fast-growing, financially powerful competitors in the social gaming arena, including Zynga and Playdom.