PowerReviews Receives $15 Million
Every day, it seems like at least one social network brings in a few million dollars in funding. Now a social shopping network is getting richer, as well; PowerReviews just received $15 million.
PowerReviews, which adds user review functions onto retailers’ sites, is in a pretty strong position. Its clients include huge businesses such as RadioShack, Toys “R” Us, and Brookstone, and 37 others are listed on the official site. That $15 mil won’t hurt, either.
“Lehman Brothers Venture Partners took the lead on the round, and previous investors Menlo Ventures and Draper Richards invested more, as well,” notes VentureBeat’s Dan Kaplan. While it’s a pretty standard practice for firms to give money more than once, consider that an extra vote of confidence.
More positive news comes from StartupSquad’s Vivek Puri, who names PowerReviews “[o]ne of my favorite startups.”
All in all, everything’s looking pretty cheery. PowerReviews hasn’t given any real clues as to what it plans to do in the future, but it’s a good bet that a great deal of expansion will be involved. PowerReviews’s work is on display at Buzzillions, by the way.