Nexopia, a social networking platform focused on Canadian youths, has raised an undisclosed amount of VC funding from Burda Digital Ventures. The company also named Boris Wertz, former COO of AbeBooks.com, as its new CEO. 23-year-old founder and former CEO Timo Ewalds will serve as chief product strategist.
Nexopia today announced a major investment of several million dollars from Burda Digital Ventures, the venture capital arm of Hubert Burda Media, one of
In just four years Nexopia.com has grown from an ambitious networking utility run from the basement of founder Timo Ewalds to
Stepping into the role of new CEO for Nexopia is Boris Wertz, who was previously Chief Operating Officer of AbeBooks.com, the world's largest online marketplace for books and another Canadian internet success story. Said Wertz of the investment in Nexopia: “Our decision to invest in Nexopia springs from witnessing the company grow from essentially a bedroom hobby project into a company that, in just four years, now reaches 70% of teenagers and young adults in
For 23 year old Timo Ewalds, eager to renew his focus as chief product strategist, the investment presents an exciting opportunity for his company to grow: “Our vision for Nexopia has always been to grow into North America's largest social network for youth and now, with the support of Burda Digital Ventures and an experienced Internet executive at the helm, we can finally take Nexopia to the next level and make that vision a reality.“
Founded in 2003 by 18 year old Timo Ewalds, Nexopia.com has since become the most popular social networking utility for Canadian youth with over 1.2 million registered members and over a billion pages served per month. Always a passionate innovator, Nexopia is dedicated to developing new technologies to help young people stay connected with friends as well as express themselves to the world.
About Burda Digital Ventures
Burda Digital Ventures is the venture capital arm of Hubert Burda Media, one of