Deven Parekh will participate in duties as a Board Observer With Buddy Media. Buddy Media assists advertisers in managing their existence on the Facebook online community. The Company recently obtained $54 million in venture capital.

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

Buddy Media’s services are for Facebook, however, not exclusively – advertisers may also use Buddy Media for Twitter, among others as they consider fit. In 2011, Buddy Media has added nearly 200 new customers. This consists of a number of the world’s most well-known global brands, retailers, and media companies.