Updated
Topix.net, the Palo Alto company that aggregates news on a single site, letting users see local and other relevant news to them, said it has raised $15 million more in financing.
Topix said in a statement that it raised its money from existing backers Gannett, McClatchy Company and Tribune Company.
Topix.net serves 32,500 local news communities, and has been busy introducing new features, such as online forums tied to local news. They also introduced an interactive feature that lets you select news from over the past year related to a term. For example, Saddam Hussein was just sentenced to hang, and if you search for Saddam you will get a fever chart of how much Saddam was in the news over the past year. You’ll see it spike this weekend. You can interact by clicking on the time bar.
With this investment, Gannett and Tribune each own a 33.7 percent stake in Topix.net, while McClatchy owns 11.9 percent, the company said. (See here for the history of the earlier investment in Topix).
Here is our previous coverage of Topix.
Update: VentureWire reports that the pre-money valuation of company was a respectable $72 million. The Web site saw 3.9 million unique visitors in September 2006, according to Comscore, up from 3.6 million during the same period last year.
Tags: co:KnowNow, co:Topix.net, inv:Gannett, inv:Knight-Ridder, inv:McClatchy, inv:Tribune-Co2 Comments
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Patricia said:
Cool. I notice a lot of moves being made in publishing right now. Nice to see that industry finding its way.
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8 Trackbacks
7:26 am
» DalÅ¡Ãch 15 milionů dolarů pro Topix.net na lokálnà zpravodajstvà | Web. REFLEKTOR said:
[...] Topix raises $15 million more to build out local news (VentureBeat) [...]
7:46 am
VentureBeat Wire » Topix raises $15 million more to build out local news said:
[...] See our story here. VentureBeat Community [...]
9:15 am
Dadblog » links for 2006-11-06 said:
[...] VentureBeat » Topix raises $15 million more to build out local news “Topix.net serves 32,500 local news communities, and has been busy introducing new features, such as online forums tied to local news.” (tags: postcoded localnews) [...]
9:18 am
Martin Stabe » links for 2006-11-07 said:
[...] VentureBeat: Topix raises $15 million more to build out local news US local news aggregator Topix.net has raised $15m from existing backers Gannett, McClatchy Company and Tribune Company. (tags: topix gannett mcclatchy tribune newspapers regional local) [...]
10:38 am
VentureBeat » Zvents gets $7M (yikes) for Ajax events site said:
[...] Zvents launched at last year’s Web 2.0 conference. Then, chief executive Nathan Stock said he would raise venture capital this year; he has slipped in just before the bell. He says the cash is justified: $10 billion in advertising still needs to move online, news organizations are having to upgrade their offerings to grab that advertising, and Zvents is right smack in the middle of that, he said. Topix.net raised even more cash ($15M announced yesterday), a bundle that is going to be difficult to make a good return on (although in Topix’s case, the investment has become more strategic, because investors are the news organizations themselves). [...]
10:03 pm
VentureBeat » Update on VentureBeat’s high-end jobs said:
[...] –Software engineers wanted at Palo Alto news site Topix (a company we wrote about here); –Product marketer wanted a San Mateo-based network security company, Metavise; –An Entrepreneur in Residence at National ICT Australia (NICTA), which is Australia’s ICT Research Centre of Excellence. They’re trying to raise their profile, and are apparently paying well to do it. Tagged jobs, venturebeat jobboard VentureBeat Community [...]
2:27 am
Crenk » Topix with new CEO said:
[...] Rich Skrenta. No real reason is given. However, investors have high expectations, having pumped in $15 million recently. Topix was an early news aggregator online, an area which is now filled with competitors. Sphere: [...]
5:06 pm
Outside.in releasing Radar, the Facebook Friendfeed of local news » VentureBeat said:
[...] have more later this week on another local site, Topix, which has a rather different idea of how to handle local news. SHARETHIS.addEntry({ title: “Outside.in releasing Radar, the [...]