Digg meets Perez Hilton: Outbrain, a NY/Israel-based startup whose platform lets users rate blogs and RSS feeds, raised $5 million in Series A funding led by Lightspeed Venture Partners and Gemini Israeli Funds. The funding round follows a $1 million seed round last year.
Co-founder Yaron Galai, who co-founded Quigo before AOL bought the ad company for a reported $340 million last year, says the 10-employee company hasn’t generated revenue yet. Its ratings boxes don’t feature ads, but Galai says that Outbrain is looking at different advertising models while it builds the company’s network base. We imagine that five milion can’t hurt to that end.
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