Social shopping site ThisNext draws $5M
[update 2/5: The company said it will "in the next couple weeks" close an unspecified venture debt funding, Chief Executive Gordon Gould told VentureWire. ]
Social shopping has proven to be a popular concept lately, with a number of companies offering varying ways for shoppers to network with others have similar tastes to their own.
ThisNext’s take gives shoppers a way to comment on products they like, moving them up and down in the popularity rankings. The site also has an interesting feature called “Watch People Shop“, a map with pop-up views of people shopping for items around the world.
Similar sites include Stylefeeder, which just raised $2 million, Stylehive and Kaboodle.
The $5 million raised by ThisNext is the company’s second, and was provided by Anthem Venture Partners and Clearstone Venture Partners, both of which also invested in the company’s first round of $2.5 million. It’s based in Santa Monica, Calif.
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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.