Universum Buys Doostang

Universum Development has acquired career networking platform Doostang, the company announced Tuesday. Doostang, based in Palo Alto, Calif., had raised venture funding from Shasta Ventures and Tugboat Ventures and individual investors. Formed in 2005, the company targets young business professionals and has about 900,000 members, it says. Terms of the deal were not released.

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