We are hearing that competition is fierce for a $6-$10 million financing round for Yodle, a local-advertising services company based here in NY. This 2 year old company, originally funded by Bessemer, is doing a second round, and we hear that bids are coming in north of $40m pre-money.
Yodle has about 55 employees and is growing 60% per quarter. Ever since Reach Local was valued at $300m, the market has realised the potential value in local online – sucking revenues away from the dying $20b yellow pages offline market.
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