Shopit Launches Social Networking App

New Los Angeles-based startup Shopit announced today that the firm has launched a new service which allows users to build storefronts for their social networking profiles. Shopit says that it has received venture funding, but has not disclosed investors in the firm. ShopIt allows users to set up an online store, and maintain the same store across multiple social networking or other web sites. According to ShopIt, its e-commerce service supports sites like MySpace, LiveJournal, Xanga, Facebook, and other services.