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May 05, 2014

Website Discovery Service Flipora Seeks $30 Million in Fundraising to Support Growth

With a global user base of more than 25 million people, Flipora is quickly making a name for itself all over the Web. Flipora is a free Web service that allows users to create a profile where they choose from an array of over 60 topics that they may or may not be interested in. From there, Flipora creates a list of websites that it thinks the user will enjoy, along with a newsfeed that is catered to that individual's unique interests. Now that the service has reached such increasing levels of popularity, the company is looking to raise approximately $30 million.

“We have been almost doubling the number of users we have every year and expect to have 50 million by the end of this year,” said Jonathan Siddharth, who is a joint CEO for the company alongside Vijay Krishnan. The duo claim that Flipora offers better recommendations than Google (News - Alert) or Twitter can because the service incorporates browser history and Facebook data alongside the list of topics it asks users to generate, which results in a comprehensive look at what a user's Internet activity is compared to their interests.

Despite the recent explosion of growth, Flipora has managed to remain quite profitable, which Siddharth and Krishnan believe will entice investors into supporting their company. The two launched the company under the name InfoAxe back in 2010 as a humble Web-history search engine, but in that time the two have managed to scale the company up to what it is today. Now that the personalization and recommendation engine of Flipora analyzes up to 100 million websites per day, Flipora has the web traffic to generate serious advertising revenue. With this last round of funding, the company has even implied that they are preparing to go public with an IPO.




Edited by Rory J. Thompson
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