YouTube co-founders' AVOS Systems scores Series A funding

The company's round was led by New Enterprise Associates, and as one might expect, Google Ventures.

AVOS Systems, the Internet venture started by YouTube co-founders Chad Hurley and Steve Chen, has closed a Series A venture capital financing round with some help from old friends.

Google Ventures led the Series A round, along with New Enterprise Associates, according to AVOS. Madrone Capital and China-based Innovation Works also participated in the financing. AVOS did not divulge how much it raised in the round.

Hurley and Chen made a name for themselves in the Web community back in 2006 when they sold YouTube to Google for $1.65 billion . In their new role as leaders of AVOS, they've bought social-bookmarking site Delicious from Yahoo . The new company also operates China-based Pinterest-like site, Mei.fm and is working on launching a magazine discovery and creation engine, called Zeen .

AVOS plans to use the new funds to "accelerate growth." The company is also eyeing possible acquisitions, though it didn't say what it might be considering buying.

 

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