White Label Social Net Lithium Buys Social Media Moderation Firm Keibi
This story was written by Rafat Ali.
Lithium Technologies, an Emeryville, CA-based provider of white-label social networking tools focused mainly on the enterprise market, has done a small acquisition: it has bought Keibi Technologies, which develops automated content discovery, analysis, and moderation software for social media sites and services. Terms of the deal were not disclosed. Keibi's technology is being used on AOL-owned Bebo, among others; it was founded in 2006, and raised $5 million in one round of funding from Hunt Ventures and Catamount Ventures in 2007.
Lithium has raised a total of about $21 million in two rounds of funding, but has been around for a long time, since 1999. The technology was originally created as part of online gaming portal Gamers.com. CEO Lyle Fong and his brother Dennis co-founded Gamers.com and its parent, GX Media. Its solution is being used by Best Buy, Sony (NYSE: SNE), AT&T (NYSE: T), RIM (NSDQ: RIMM), Univision, and PayPal, among others. More details in release.
By Rafat Ali