According to published reports, Ribbon.co announced the close of its $1.6 million seed round, led by Tim Draper's Draper Associates. Participating in the round were Siemer Ventures, Emil Michael (Klout COO), Naguib Sawiris, Winston Ibrahim (Hydros) and MicroVentures.

Ribbon is a San Francisco payments company that allows you to buy/sell items within any platform. Buyers can purchase wherever they already are, whether that's on a seller's website, the Facebook newsfeed, or the Twitter stream. We handle all payments and they occur in-stream.