YouWeb Raises $2M, Hires New SVP of Business Development

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By Christopher Mack Comment

SangsterYouWeb, the social incubator company behind OpenFeint, CrowdStar, Sibblingz and iSwifter, has announced a new round of funding of $2 million from existing investors. It has also hired former Walmart executive Michelle Yee Sangster as its new senior vice president of business development.

Sangster holds executive experience from not only Walmart, but also senior level business development experience from Amazon and Yahoo. She will be focused on driving new business development for incubated companies in regards to social and mobile media.

Her specific focuses will include leveraging the new Sibblingz HTML5 mobile gaming platform, Spaceport, a cloud-based social gaming platform that supports games on any mobile platform and Facebook. Additionally, she’ll work with CrowdStar (which recently launched its $10 million StarFund for mobile game startups) in finding brand deals for social games. Initially, however, Sangster will be helping to further monetize the streaming of interactive applications on mobile devices for iSwifter.

iSwifter allows users to play Flash-based games on iPad through its Flash-enabled browser. Moreover, iSwifter also just announced that growth will not only be aided by Sangster but their new vice president of engineering, the former senior director of engineering for VMware, Ajit Mayya. Mayya is also joined by former eBay architect Lucian Masalar and Microsoft team member, Pankaj Kumar. iSwifter also announced that it’s on track to pass $10 million in revenue for its first year.

This estimation follows well with the successes of the other YouWeb-incubated companies. Earlier this year, OpenFeint was acquired by Japanese company GREE for $104 million and CrowdStar recently released its hit title Top Girl and raised $23 million in funding.

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