RateItAll, a site that describes itself as a “distributed Yelp for everything” has closed an $800k round of funding led by Accelerator Ventures, JAIC America, Pacific I&T Ventures, and Eric Di Benedetto. The site allows users to rate topics that range from travel to politics to athletes (it shies away from product and restaurant reviews that are seen on sites like Yelp and epinions). RateItAll initially launched in in 1999, but was effectively shut down in 2001, where it lay dormant until its relaunch in 2007.
Since then, the site has done quite well – In 2007 it managed to generate $190k in revenue with a single full-time employee (the team has now grown to four). The site is somewhat unique because of its revenue-sharing program, which gives users 50% of the advertising revenue generated by the reviews they’ve written.
Over the past year RateItAll has grown to a million monthly uniques and has been seeing explosive growth in user interaction, going from about 10,000 new ratings in February to 70,000 in May, much of which was driven by its MySpace application. Of course, it still has a long ways to go – there is no shortage of review sites on the web, and many of them have far more content than RateItAll.