US SNS site Going gets 5 million USD risk investment

The emerging American SNS (social networking) website, Going.com, announced yesterday that it had secured $5 million in venture capital funding.

This round of investment in Going was led by General Catalyst Partners and Highland Capital Partners, both of which have previously invested in China’s video-sharing site Tudou.com, with the total amount reaching $5 million. Evan Schumacher, CEO of Going, stated that the funds raised will be used to expand Going's presence into other cities. Currently, Going is only operational in four U.S. cities: Boston, Chicago, New York, and San Francisco. However, Evan Schumacher did not disclose which cities would be included in the expansion.

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Going launched in January this year and within just six months achieved a monthly visitor count of 500,000 people, with an average monthly user growth rate of 1200%.

What sets Going apart from MySpace is that its connections between users are not based on shared interests but rather on popular local events happening in a city, such as charity activities, parties, or concerts. Users can view upcoming events in their own city on the platform, thereby making friends who share a common interest in a particular event and establishing online connections with them.