Sonico Raises Another $1.7 Million
The Latin American social network -- which is headquartered in Buenos Aires and comes in English, Spanish and Portuguese -- says it will expand in Brazil and add new products. So far it claims 43.8 million users, most of them outside the U.S. The new money is an extension of a $4.3 million first round raised 18 months ago from DN Capital and individual investors. In a refreshing change from American social networks, Sonico has made privacy a core part of its site. Users can set up separate profiles for friends and family, business associates and the public -- "focused in the connection, not in the exposition" is the way the Web site puts it. Sonico also claims to moderate content to "make sure that information posted on the network is accurate and appropriate." Last year Connie Loizos caught up with one of Sonico's investors -- Stephan Paternot, whose great grandfather founded Nestle.
