Zivity Secures $7 Million in Series B Funding from BlueRun Ventures, Founders Fund to Build Premier Subscription-Based Social Network

SAN FRANCISCO — March 10, 2008 Zivity, a company creating a new category of subscription-based social networking for the 18 and over market, has raised $7 million in Series B financing from venture capital firms BlueRun Ventures and Founders Fund.

John Malloy, partner and a founder of BlueRun Ventures, and Luke Nosek, managing partner at Founders Fund, will join Zivity co-founders Scott Banister and Cyan Banister on the company’s board of directors.

BlueRun Ventures, which led the round of financing, has previously collaborated with Scott Banister at Slide, the personal media network best known for its embedded social networking applications, and PayPal, the online payment company now owned by eBay.

“Zivity, much like Slide and PayPal before it, has a driven and talented team focused on challenging the status quo and creating a large new market opportunity,” said Malloy of BlueRun. “Zivity is introducing an innovative business model that reflects a major shift in the maturation of the Web. We look forward to helping build Zivity into a global media platform.”

Zivity.com is a community-powered showcase promoting female beauty and expression through professional-quality photography. Subscribers to Zivity pay $10 per month and distribute 40 percent of their subscription fee to the participating models and photographers via Zivity’s innovative dollar-backed voting system. Each vote cast delivers cash to the content creators.

“We think of Zivity as the HBO of the Internet,” said Scott Banister, chairman of Zivity. “Unlike free social networks and other user-generated content platforms underwritten by advertisers, our subscription-based business model offers us real freedom — to publish uncensored content and to pay our content producers generously. We believe consumers from all over the world will pay $10 a month for online freedom.”

“As an entrepreneur and founder, Scott brings deep industry knowledge and the ability to recognize innovative new growth opportunities based on current trends,” said Luke Nosek, a managing partner at Founders Fund. “We believe Zivity is pioneering a unique business model in social media that consumers are ready for.”

Together with the $1 million announced in August, this brings the total capital raised by Zivity to $8 million. The new capital will be used to bolster the company’s rapid growth with additional hires and expanded infrastructure.

About Zivity
Zivity is a premium subscription artist/fan interaction platform founded by internet leaders from PayPal and LinkExchange and backed by Blue Run Ventures and Founders Fund. Zivity celebrates artists through crowdsourced curation and editorial moderation of photography and videos featuring comedy, music, animation and performing arts. Fans freely interact with artists and vote for their favorite content. These dollar-backed votes are then used to reward content producers with cash payments. For more information, please visit www.zivity.com.

About BlueRun Ventures
Launched in 1998, BlueRun Ventures is a leading early stage venture capital fund. BlueRun Ventures' proven approach is to invest globally as a single fund in best-of-breed technologies and teams with the drive and ability to build leading global companies. BlueRun Ventures is headquartered in Menlo Park, California, with offices in Beijing, Helsinki, Herzelia (Israel), Mumbai, Seoul and Shanghai. For more information, visit www.brv.com.

About Founders Fund
Based in San Francisco and founded in 2005, Founders Fund is a group of four proven entrepreneurs with a shared vision: to change the way venture investments are made. Led by a team of experienced entrepreneurs, Founders Fund seeks to provide the capital, insights and support required to build a company from the ground up and sustain successful enterprises with a non-traditional, founder-focused approach. Their current portfolio includes Facebook, Geni, Powerset, Ooma, Quantcast and Slide among others. For more information, visit www.foundersfund.com.

Contact:
Zivity Public Relations
415-541-7943 or pr@zivity.com