Widget maker Gigya gets $11 million Series C
So much for economic belt-tightening. Just seven months after its Series B, Gigya has pulled in another funding round.
Looks like they're battening down the hatches: Social-network apphaus Gigya has raised $11 million in a Series C funding round led by DAG Ventures.
President and co-founder Rooly Eliezerov called it a "pre-emptive round" in a release Wednesday; the company's Series B round was only seven months ago. But Gigya insists that this new funding is to keep up demand, not to have some disaster insurance in the face of the current financial situation.
Still, economic crisis notwithstanding, Gigya and its brethren may still have a tough road ahead: Blogger Nick O'Neill recently found that traffic to a Facebook app he created tanked after the social network instituted a controversial redesign that relegates many third-party widgets to a "Boxes" tab.
Facebook's obviously not the only platform for social widgets, but it's been the poster child for apps ever since the Facebook Platform made its debut in May 2007. Could it be a bellwether for the industry? Absolutely.
Disclosure: CNET is a Gigya partner.