WidgetLabs gets seed-founding

iSteps Ventures backs young widget developer

Cologne, 21 September 2007; After just a few meetings, young entrepreneur Ayham Gorani has succeeded in securing iSteps Ventures (www.isteps.de) as the seed investor for his internet start-up company WidgetLabs (www.widgetlabs.de). He plans to use the additional capital to launch his pioneering business concept with a view to ensuring rapid growth. WidgetLabs is the first European company to focus on developing widgets. These are small applications that can be easily integrated in social networks such as MySpace or Facebook, and which therefore stand a good chance of being widely used within a short space of time.

The business model developed by the 24-year-old graduate in Business Administration & Computer Sciences is a perfect addition to the seed investor’s company portfolio. iSteps Ventures invests primarily in innovative business cases that are closely related to the widget market and based on social network markets. Ayham Gorani: “I am very pleased that the founder of iSteps, Mehrdad Piroozram, has invested at this early stage of my business idea”.

About iSteps Ventures

Seed investment company iSteps Ventures, founded by Mehrdad Piroozram, is a group of serial entrepreneurs who provide start-up assistance to promising young companies from the interactive web technologies market, both in the form of capital and sector and process know-how. The main focus of its investment activities is on widget-related business models that can be used in open ecosystems such as MySpace or Facebook. Portfolio companies – which include imageloop and galias – also benefit from the personal contacts of the business angels, for example through strategic alliances, sales partnerships and technology transfers.

Contact:

iSteps Ventures
Im Mediapark 5d
50670 Cologne
Germany
Telephone: +49 221 454 55-57
Fax: +49 221 454 55-59
E-mail: info(at)isteps(dot)de
http://www.isteps.de

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