Foxconn focuses on social with deal to invest up to $9.6m in microblogging service Mig33
Apr30
Foxconn is upping its focus on social media after it announced plans to invest up to $9.6 million in mobile social network Mig33, via its Foxconn International Holdings business. Mig33 began as a feature phone-based social network, but it branched out into smartphones with a major revamp last year that positioned it as a microblogging platform. The site claims 3.8 million monthly active users, and it recently expanded its focus on celebrity and musician fan engagement with the acquisition of Deadoralive.com. Details of the Foxconn investment are basic at this point. FIH will invest an initial $2.2 million in Mig33, with a…
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