Gnip Takes A $3.5 Million Financing To Continue Data Unclogging Efforts
I know this back end plumbing stuff is boring to most of you, but Gnip is worth the trouble to understand. The company, which helps ease the transportation of social content between services (like getting Twitter data to Plaxo, for example), took a new $3.5 million round of financing. Investors include Foundry Group, First Round Capital and SoftTech VC, and the company has raised a total of $4.6 million, all this year.
The company acts as a clearing house for social content, easing the load on content distributors like Digg, Twitter, Delicious and Six Apart. Content consumers like Plaxo and MyBloglog benefit from a single endpoint and a standardized way of accessing data. In short, it unclogs the plumbing.
TechCrunchIT spoke with the Gnip founders on video immediately after launch. In September they launched version 2.0 of the service, and discussed their business model.
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