TellaPal, a new social network and recommendation engine in one, has raised $1.6 million of a targeted $5 million round of equity, according to a filing with the SEC. Based in San Francisco, the startup allows users to write recommendations for products or services, and then share their comments virally via instant message, e-mail, blogs and social networking sites (like Facebook, hi5, MaySpace) all at once. TellaPal allows users to include special offers with their recommendations, so their personal networks can benefit from the service. At the same time, recommenders can earn rewards for evangelizing for various products and services.
TellaPal previously raised $750,000 in a seed round in April 2009. The company is backed by a handful of angel investors, including Joshua Stylman and Peter Hershberg, co-founders of social marketing agency Reprise Media.
Update: This post has been updated to reflect the size of TellaPal’s seed round. It was $750,000, not $750 million.