Thursday, August 23, 2007

Konnects Nabs Undisclosed Investment from Yocam

Yocam Holdings LLC, a privately held, family-owned for-profit investment firm, revealed Wednesday that it has invested in Konnects Inc., an online business-networking platform. The amount of the investment was not disclosed. According to Yocam, Konnects has created more than 350 city business networks and more than 80 unique industry networks worldwide. Konnects.com provides software which allows businesses and professionals to create their own social networking sites, similar to user-oriented sites such as MySpace. Founded in November 2006 by five members of the Yocam family, Yocam Holdings LLC is based in Bellevue, Wash.