San Francisco-based social network Tagged announced its 2011 fiscal performance. Record business results included revenue growth of 35 percent to over $43 million, tripled registered users to over 330 million with the acquisition of hi5 and doubled active users to over 20 million, tripled staff size and a fourth consecutive profitable year for the company.
Tagged also completed its first four acquisitions to-date, with December’s acquisition of hi5. The company founded its own internal game studio, its virtual currency revenue up 60 percent from 2010. With a new suite of mobile offerings mobile usage grew to over 30 percent of its daily active users, according to the company.
Tagged was founded in 2004 and focuses on social discovery and meeting new people rather than managing existing relationships.