Tumblr’s Opponent Posterous Raises $ 5 Million
Um, oh hey guys, what’s up? Nothing much over on my side, except that I’d really like a Diet Coke. Also, I’m hearing that nascent photo sharing app née blogging platform Posterous is raising some money. So yeah that’s what’s up over here in my neck of TC HQ.
Chew on this if you’re in the mood for some actual tech news; the simple blogging service and Tumblr competitor has just raised $5 million in Series B according to multiple sources. Taking part in the round will be Redpoint Ventures, newcomer Jafco Ventures and existing angels.
On Monday Posterous revamped its entire product and focus around Posterous Spaces, which — in the same vein as Google Circles — allows users to pick and choose whom they share specific content with. Thus far the product has received mixed response from users.
I’m just going to assume that Posterous will be using the cash to increase its engineering team, because that’s what I usually write every day in these things. This new funding comes in addition to another $5.14 million in seed, angel and Series A financing from Y Combinator, SV Angel, Lowercase Capital, Brian Pokorny and others, making the company’s total funding to date $10.14 million.
I think I just might go get that Diet Coke now.
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