Deven Parekh will participate in responsibilities as a Board Observer With Buddy Media. Buddy Media helps advertisers manage their existence on the Facebook online social network. Buddy Media obtained $54 million in venture capital recently.

Proceeds from the transaction will more than double sales, support staff, and product in the next year for Buddy Media. Moreover, the proceeds will pay for additional worldwide offices as well as acquisitions.

Buddy Media’s services are for Facebook, however, not solely – advertisers can also use Buddy Media for Twitter, among others as they deem fit. Buddy Media has added almost 200 new customers in 2011. This consists of several of the globe’s most familiar worldwide brands, retailers, and media enterprises.