Europe: Germany’s Burda media group has invested “several million dollars” in a Canadian social networking startup called Nexopia which claims to be Canada’s largest social networking site for youth, writes AlarmClock. It has 1.2 million registered members and a billion impressions a month. Burda Digital Ventures, the venture capital arm of Hubert Burda Media made the investment. Nexopia was founded four years ago by 18 year old Timo Ewalds and claims 95% of its users are Canadian.

There now follows a teenage-made doco about Nexopia which provides some insight into the social networking scene out there. Assuming you can stand the ‘Emo hair’. Enjoy.