Flixster brings in millions to boost movie-ratings network
The widget maker raises $5 million from Pinnacle Ventures and Lightspeed Venture Partners.
Movie-ratings site Flixster has called down $5 million of an $8 million series B round of funding, according to the site PEHub, which cited a regulatory filing. The San Francisco-based company raised the money from Pinnacle Ventures and its previous investor, Lightspeed Venture Partners, and it adds to a previous round of $2 million.
The money might be necessary to weather a tightening, especially considering that Flixster draws money from advertising. Several venture capitalists have said that smaller, ad-supported Internet services may struggle in a down market.
Apart from its social-network site, Flixster runs a popular Facebook application for movie ratings. The widget has about 445,000 active users on Facebook; and it's just getting its start on MySpace Apps, with the launch of the social network's new developer platform. On MySpace.com it has fewer than 2,000 users.