Khosla Ventures likes social advertising startup MyLikes. The VC firm is leading the startup’s $5.6 million Series A financing. Lightspeed Partners and Metamorphic Ventures, who participated in the $600,000 seed round, ponied up again.
Additionally, seed investor Paul Buchheit is joining MyLike’s board of directors. Buchheit, the creator of Gmail and founder of FriendFeed, recently left Facebook to become a partner at Y Combinator (although MyLikes is one of his private investments).
MyLikes tries to match social influencers with advertisers. Anyone can sign up to endorse products and brands to their social networks via Twitter, Facebook, YouTube, or blogs. MyLikes calculates your social influence based on how many followers you have, how often they click on your endorsements, and other factors. The more social influence you have, the more money you can make.
Today, the company is also launching a mobile app on both iPhone and Android, which allows users to endorse products by uploading and sharing photos or by checking into a business location.