Wikio Receives $5.3 Million
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Why are those at Wikio happy?
They just received their first round of funding, to the tune of $5.3 Million.
What is Wikio?
Wikio is a personalized page of news, including a news search engine that searches media sites, blogs and member publications.
Lightspeed Venture Partners and Gemini Israel Funds invested in this first round.
What will they use this funding for?
Within the last year Wikio has released versions of its site in France, Germany, Italy, Spain and the United States, it is their feeling at Europe is not properly recoginized with aggregated localized content. It appears they will use the funding to expand and continue to service the markets outside the U.S.
Wikio states they receive over 1 million visitors a month, and they will launch a United Kingdom site soon. They are now in France, Germany, Italy, Spain and the United States, with most of their traffic coming from France.
They beleive their revenue will be advertising that is relevant to the content on the pages the ads appear on. Nothing new there.
The wiki pages are not new, the system of voting is not new, the method of advertising is not new, so what’s going on here? There is something to be said for servicing markets that have the demand but are not being serviced well by others, and unless I missed something this is their focus.
Wikio is based in Luxembourg.
See their site here.
Read more about Laurent Binard – NA.
Read more about Pierre Chappaz – NA.
Read more about Lightspeed Venture Partners here.
Read more about Gemini Israel Funds here.