RateItAll.com Completes $1.4 Million Round of Funding
San Francisco, Calif.-based RateItAll.com has announced that they have completed a $1.4 million Series A round of funding. RateItAll is a site where consumers can write opinions on anything. From dog food brands to types of music to radio talk show hosts. The investors in the $1.4 million round of funding includes Launch Capital, Fabrice Grinda, Tim Stevens, Ben T. Smith IV, Pacific I&T Ventures, and Eric Di Benedetto.
“We believe that the burgeoning consumer review market will continue to be a growth agent for online destinations’ engagement and adoption,” stated Jorge Calderon, Director of Launch Capital in Palo Alto. “RateItAll’s unique reviewer focused revenue sharing model, growing database and strength of founders contribute to the growing traction that made this the right deal for our investment.”
Through this round of funding, Fergus O’Daly joins RateItAll’s Board of Directors. Fergus co-founded Poppe Tyson Advertising. At Poppe Tyson, Fergus helped create Mozilla. Fergus also co-founded DoubleClick.
“Fergus has built world class companies, and participated in taking two companies public,” stated RateItAll CEO Lawrence Coburn. “He is one of our industry’s pioneers, and brings an immense depth of knowledge – we are flattered that he has joined our Board.” RateItAll started in 1999, shut down in 2001 and did not reopen until 2007. RateItAll made $190,000 in revenue in 2007 with one employee. RateItAll receives about one million monthly unique visits and has gone from 10,000 ratings in February 2008 to 70,000 in May 2008 [TechCrunch].
RateItAll was founded by Lawrence Coburn. Coburn also writes on a blog called Sexy Widget.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry