Financing to fuel continued growth of key operating properties dedicated to driving social networking and new media communities
Cambridge, MA—October 30, 2006—Top10 Media, Inc., a family of social networking properties dedicated to creating value in the areas of publishing and retail, today announced that it has successfully completed a financing round of $3.5 million led by Highland Capital Partners with the participation of Schooner Capital and other investors. Headed by an experienced executive team including President Ashton Peery and Chairman John Palfrey, Top10 Media has leveraged this financing to acquire Blogniscient, an expert content ranking and aggregation service, and will use the proceeds to manage and grow the company’s current properties, including Top10 Sources and StyleFeeder.
“Top10 Media is a Web 2.0 company that leverages unique social networking technologies to monetize the many new ways we discover and interact with information on the Web,” said Ashton Peery, president of Top10 Media. “This financing from top-tier investors validates the vision of the company and brings us the resources we need to rapidly expand our current offerings.”
Launched in 2005, Top10 Media is comprised of the following properties:
Top10 Sources (www.top10sources.com):
This next generation media source for enabling mainstream users to tap into blogs, podcasts, video, and current mainstream news outlets to deliver users the most relevant and timely content from anywhere on the Web. Top10 Sources achieves this goal by drawing upon an extensive network of citizen editors and technology from its recent acquisition of Blogniscient, a premier set of algorithms that automatically categorize and rank a wide array of user generated and other web-based content in real time. This capability enables Top10 Sources to provide the most up-to-date information on the hottest topics with a more complete view than traditional online media outlets.
StyleFeeder is a social shopping community that simplifies the online retail experience by helping shoppers discover interesting products on the Web and express their personal style. StyleFeeder enables members to create Web-wide wish lists, recommend products and join groups with shared interests, all while providing retailers a channel to enhance the online shoppers’ experience and deliver them greater value.
“The Internet is home to the largest and fastest growing library of information on the planet. This growth drives the need for citizen editors, drawing upon their unique areas of expertise to help others find the most relevant content on the Web,” said John Palfrey, chairman of Top10 Media and executive director of the Berkman Center for Internet & Society, a leading Web 2.0 think-tank. “Top10 Media and its properties are geared to help online citizens use their voice to provide insights and contribute to a vibrant community.”
“We’re excited to be working with Top10 Media and a team that’s “who’s who” of the Web 2.0 world,” said Dan Nova, managing general partner with Highland Capital Partners. “In the current landscape, there is an overwhelming need to make the billions of Web 2.0 Web pages usable and useful for consumers. Top10 Media and its properties Top10 Sources and StyleFeeder are pioneering human-assisted search for syndicated consumer-generated content and we believe the company has an extremely bright future.”
About Top10 Media, Inc.
Founded in 2005, Top10 Media is a leading family of social networking properties dedicated to creating value in the areas of publishing and retail. Top10 Media currently oversees the operation of two properties including Top10 Sources and Style Feeder. Top10 Media is privately held and based in Cambridge, Massachusetts. For more information please visit http://www.top10mediainc.com/.