text: History The company was founded in 2003 by Ramu Yalamanchi. It was profitable in its first year.
  By 2006, it had become the 8th largest social networking service.
  Prior to 2004, the company had raised $250,000 from angel investors.
  By 2007, it was the 2nd largest social networking service after Myspace.
  In 2007, the company raised $20 million in a series A round from Mohr Davidow Ventures, as well as $15 million in venture debt.
  In 2008, comScore reported that hi5 was the third most popular social networking service in monthly unique visitors behind Facebook and MySpace. It was also the fastest growing social network. However, international growth of Facebook later hurt hi5. It was most popular in Latin America.
  The company had gained significant market share in Europe, Latin America, and Asia, and Mary Meeker had cited hi5 as the 10th largest site in the World in her 2007 Technology / Internet Trends report.
  Bill Gossman was appointed CEO in April 2009, and at that time, hi5 refocused itself as a social-network game platform and opened itself to new game developers.
  In early 2010, hi5 acquired social gaming company Big Six.
  In 2010, it announced it had raised $3 million convertible note from existing investor Mohr Davidow, bringing the funding up to $38 million.