Breaking: Acebucks Raises 1.5 Million


By Nick O'Neill Comment

Acebucks, one of the primary virtual currencies on Facebook has just raised $1.5 million from a powerhouse team of investors. Aryeh Goldsmith, the developer of Acebucks, was acquired by Michael Lazerow to form Buddy Media. Buddy Media investors include Howard Lindzon, Peter Thiel, Mark Pincus and James Altucher.

The focus of Buddy Media is to expand the AceBucks application and make it the primary virtual currency on Facebook. Acebucks will soon launch an API which enables developers to integrate the virtual currency into their own applications. For example if you are winning points on a poker application, you can convert those points into Acebucks.

Acebucks can be used to purchase both virtual and physical assets through the new Facebucks store which is about to be launched. Acebucks is being modeled after the AMEX rewards system. Buddy Media plans on launching some creative marketing campaigns via the Acebucks application.

The Acebucks application is going to be able to expand into a number of larger applications thanks to their powerhouse investment team and some pretty large partnerships that they are announcing in the coming days. If you want to learn more about Acebucks, go check out the application.