Venture funding for start up companies in the mobile space expanded rapidly starting in 2005,[3] and MocoSpace was a beneficiary of this trend. In 2007, MocoSpace received an initial $3 million series A round of venture funding.[4] And in January 2008 MocoSpace received a $4 million series B round of funding.[5] At that time, MocoSpace also announced 2 million registered users and 1 billion monthly page views. Like most social networking services, the business model is based on serving advertisements to users.[6][7]