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App Success Propels $20 Million Investment

Palo Alto, California-based Booyah [1], a developer of location-based mobile applications, has closed a $20 million round of financing, led by venture capital firm Accel Partners [2].

[3]Previous California-based backers Kleiner Perkins Caufield & Byers [4] and DAG Ventures [5] also participated.

Booyah launched its MyTown 3.1 application in Dec./09. The iPhone app: hit half a million users in January, 1 million in February, and now has 2 million in May, 2010. The service lets users check in at real-world locations using GPS features to unlock rewards, as well as purchase, upgrade and collect rent on virtual versions of their favorite real-world places.

In addition to the funding, Jim Breyer, an investor and board member in Facebook [6], Etsy [7], Walmart [8], Dell [9], and Marvel Entertainment [10], among others, is joining Booya’s Board of Directors.