Outside.in takes $1.5M more in funding
Outside.in, a local news and blogging site, has taken $1.5 million more in funding, bringing its lifetime total to $2.4 million.
Users of the site can write stories, comments, blog posts or reviews of locations in their neighborhood, as well as building up their own personal “neighbor” profile. The site is working on a “major” overhaul, expected to be complete within a week.
Another so-called “hyperlocal” site, Backfence, shut down earlier this year. We recently reported on a third startup, American Towns. At best, the hyperlocal market represents a significant risk, which may be why the funding rounds sites are receiving are so small.
Investors in the round included funds Union Square Ventures, Milestone Ventures and Village Ventures, and individual investors George Crowley, John Seely Brown, Esther Dyson and John Borthwick, according to the Silicon Alley Insider.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.