EcommerceBytes-NewsFlash, Number 2290 - May 19, 2010 - ISSN 1539-5065
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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.
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