SAN FRANCISCO, Dec. 1 /PRNewswire/ -- gWallet, a new monetization platform for social media, today announced it has closed its first institutional funding round led by Adams Street Partners and Trinity Ventures. This brings total funding raised for the startup to $12.5 million.

Not content to cool his heels after selling ad network BlueLithium to Yahoo!, founder and entrepreneurial guru Gurbaksh Chahal is rejoining the technology game with gWallet, a new ecommerce solution. The company is in the final stages of Series A funding and is set to launch this summer.

William Morris Talent Agency has signed Internet entrepreneur, Gurbaksh Chahal (aka "G"), who at just 25-years-old has already sold two companies for an unfathomable $340 million. Similarly to the great Internet entrepreneurs before him, G's story begins with an idea.

After making such a grand entrance and an even greater impression earlier in November, online entrepreneur, Gurbaksh Chahal, will appear for a second time on the FOX Business Network.

Online entrepreneur and shockingly accomplished prodigy Gurbaksh Chahal will appear on the new Fox Business Network (hosted by David Asman) on Tuesday, November 6, at 3PM ET.