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EcommerceBytes-NewsFlash, Number 2290 - May 19, 2010 - ISSN 1539-5065    2 of 3

Facebook Ecommerce-Solution Payvment Gets Funding

By Ina Steiner
EcommerceBytes.com
May 19, 2010




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Facebook ecommerce solution provider Payvment has secured a $1.5 million Series A funding round led by BlueRun Ventures and angel investor Dave McClure, one of PayPal's early employees.

Payvment provides a free Facebook application that allows businesses, organizations and individuals to set up virtual storefronts. Since its launch last year, over 20,000 businesses and individuals have started to sell goods on Facebook and over 500,000 Facebook users have shopped for products in stores using the Payvment app.

Payvment was founded in 2009 by Christian Taylor and Joelle Musante, who previously developed social network Fan Web sites for Fortune 500 companies. Payvment uses PayPal Adaptive Payments and was featured at last year's PayPal Developers Conference.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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