• The Point Organizes a $4.8 Million Series A For Itself

    Tuesday, February 12th, 2008

    Erick Schonfeld is a technology journalist and the former Editor in Chief of TechCrunch. At TechCrunch, he oversaw the editorial content of the site, helped to program the Disrupt conferences and CrunchUps, produced TCTV shows, and wrote daily for the blog. He joined TechCrunch as Co-Editor in 2007, and helped take it from a popular blog to a thriving... → Learn More

    thepoint-logo.pngAfter raising $2.5 million from angel investors last year, social activism and campaign-organizing site The Point has closed a $4.8 million series A financing from New Enterprise Associates. The idea behind the site is to create campaigns around social action—it could be donating to a political candidate, boycotting a company’s products, or simply organizing a meetup—but nobody is required to actually do anything until the cause reaches a pre-determined tipping point, or critical mass, of supporters. It is designed to focus activism or community involvement in campaigns that actually have a chance of succeeding. Although, there are some crazy causes, like this one to raise $10 billion to build a winter dome over Chicago.

    The startup is based in Chicago. It plans to make money from ads targeted to each cause/topic. I first wrote about The Point when it launched last November.

    Here is a video of founder and CEO Andrew Mason explaining why he started the site:

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