outside.in Comes Up With $1.5 Million
The world has not turned upside down; investors have merely turned towards outside.in. The site, which is a sort of location-based blog aggregator with social networking features, raised $1.5 million.
As funding rounds go, this wasn’t great; we’ve seen other companies routinely pull down five to ten times as much money. Also, although Peter Kafka was able to list an impressive number of investors who returned for this second round (including Union Square Ventures, Village Ventures, John Seely Brown, Esther Dyson, and John Borthwick), he revealed that Marc Andreessen did not.
It’s not time to worry just yet, though – for certain cities and zip codes, outside.in provides an admirable list of places, neighbors, and news and blog stories. The site should also receive an overhaul in the near future, so look forward to some unspecified goodies on that front.
Lastly, for those cynics (and/or realists) among you who are still stuck on the amount of funding outside.in received, know that a geo-targeted ad system is in the works, and this could provide a steady stream of income. outside.in’s fate may not be certain, but there are more reasons to believe it’s heading up than down.