Transatlantic venture capital company
Arts Alliance is
leading a £1.25 million ($2 million) investment in
UBUBU, a San Francisco-based
developer of Web community tools.
Advanced Technology Ventures is co-leading the investment,
which will help the start-up company to become established in
the market.
UBUBU — pronounced “you be you be you” — aims to redefine
the desktop as a personalised communication platform.
“We are delighted to be involved in a bold concept,
and UBUBU is one of the boldest we have seen,” said Thomas
Hoegh, founder and managing director of Arts Alliance.
“Community sites are in their infancy at present, yet
some existing sites have already shown signs of
stagnation. I believe that successful Internet community
sites will become pivitol in shaping the online world.”
Thomas Hoegh went on to describe UBUBU as “passionate,
capable, and shrewd enough to be a key player” in the
burgeoning Internet community market.
UBUBU was founded by seven people with backgrounds
that include many top names in the industry:
Disney, Electronic Arts, Oracle, Silicon Graphics,
Voyager, McKinsey, BCG, and institutions such as
Stanford and MIT.
One of UBUBU’s features is a “viral model” that will
benefit major Web brands by improving the connection
to consumers.
