Socialtext and Technorati get financed
The money starts coming in as it seems. Ross just posted that Socialtext has received Series A funding from among others the Omidyar Network a new venture company by eBay founder Pierre Omidyar, who also blogged a bit about it. Other investors that should ring a bell are Joi Ito and Loic le Meur, but there are several more. They already have a great customer list but one I was particularly happy with was the use of Socialtext at the Chaordic Initiatives, which is a movement/idea/something that has fascinated me ever since reading Dee Hock’s book Birth of the Chaordic Age several years ago. I have been talking about it to people a lot. The main site of the idea Chaord.org as a bit unaccessible though I found and the Chaoric Initiatives looks great! Thanks for working with them Ross!
The second funding round is reported by Om Malik here (source) and is unconfirmed but looks right. It values Technorati at $12 Million which seems to be either amazingly high or amazingly low to me. I do think their largest competitor is Bloglines and I am looking forward to seeing them funded.