SAN FRANCISCO Jan 18 Social network software maker Slide Inc said on Friday it has closed a $50 million institutional financing round, marking the rising valuations of start-ups riding market leader Facebook's wave of popularity.
Slide, a 65-employee company founded by Max Levchin, 32, the Ukranian-born co-founder of online payments company PayPal, is the creator of several of the most popular software programs running on Facebook and News Corp's NWSA.N MySpace. Its Facebook programs include Top Friends, FunWall and SuperPoke!
In an interview, Levchin declined to name the institutional investors. But sources close to the financing deal said the investors are Fidelity Investments and T Rowe Price (TROW.O). (Reporting by Eric Auchard in San Francisco)