SodaHead.com slurps up $8.4 million
Polling start-up, founded by a former MySpace veteran, says great ad revenues are on the horizon because it can easily target users' preferences.
Its name might be wacky, but some investors with deep pockets think it's the real thing: SodaHead.com, a polling and answers site, announced Wednesday that it has raised $8.4 million in Series B venture funding. The money comes from new lead investor Mission Ventures, as well as existing investor Mohr Davidow Ventures.
The company's previous round, with veteran investor Ron Conway and Tech Coast Angels contributing, had totaled $4.3 million.
SodaHead was founded by Jason Feffer, former vice president of operations at MySpace, and his childhood friend Michael Glazer. Feffer describes the site as "the Internet's modern day town square," and has said that polling records produce so much information about user preferences that they're a dream for advertisers.
Currently, SodaHead has about 600,000 subscribers. The new venture money will be used, according to a release, to get the word out, support a growing user base, and make some "strategic hires."