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Culture

MyBlogLog founder to unveil new Web 2.0 service

The founder of the social network for bloggers, which sold to Yahoo last year, plans to launch a new company called Gnip.

Eric Marcouillier, founder of the social network for bloggers MyBlogLog, which he sold to Yahoo last year for an estimated $10 million, plans to launch a new company called Gnip. According to Techcrunch, Marcouillier raised $1 million from the Foundry Group and Softtech VC to build up the venture.

The site for Gnip, which offers few details, will launch in May. The business involves "Web 2.0 infrastructure," according to the page. Foundry Group's Brad Feld and SoftTech VC's Jeff Clavier will join Gnip's board, according to Techcrunch.