Fav.or.it secures new funding round for push into corporate blog tracking

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Feeds and commenting aggregator fav.or.it has closed a new round of funding totaling nearly £500,000. The bulk of that has come from angel investors but £125,000 came from the Finance South East fund, a government-backed fund set up to support startup businesses. The funds will be used to expand the development team and also hire a dedicated marketing and sales force.

fav.or.it has thus far been designed to simplify interaction with news sites and blogs. But it’s now adding a new string to its business model: making it easier for companies to track what people are saying about them on blogs, social networks and Twitter. However, this won’t be brand tracking. Instead, brands would be able to pay for channels that aggregate the conversation around their brand/product and use it to engage with customers. Think of it as a centralised command and control system. Sensibly this moves the site away from the advertising-driven model.

Launched in beta in October 2007 and public from June last year, fav.or.it – founded by CEO Nick Halstead – aggregates content from thousands of blogs and websites and streams them into a network of vertical channels. In this respect it’s not unlike a bunch of Google News Channels but the difference is logged-in users can comment on fav.or.it’s platform and the comments will appear on the original blog.

Halstead has also launched a new property, FeedBroker. This separates some of the functionality into a new site which would allow for licensing feeds external to fav.or.it. Feedbroker lets content owners specify terms under which their content may be used and allows them to take payments on a pay-per-post basis, for instance. In other words, fav.or.it wil share ad revenues with publishers, so it’s not just taking the content and re-publishing it.

The whole new push for fav.or.it should help it to differentiate itself from simple “commenting systems” like CoComment, SezWho, Tangler, Disqus (which now makes use of Fav.or.it’s full API for commenting) and Intense Debate.

  • http://blogs.sun.com/startups stewart townsend

    Well done Nic, worth those late nights and non drinking hahha.

  • http://blog.fav.or.it/2009/02/second-round-of-investment/ fav.or.it | Second Round of Investment

    […] announced by Techcrunch UK today, I am pleased to announce today that favorit Ltd has closed a second round of funding that […]

  • http://ww.jamespoole.org.uk james poole

    Government backed!??

    Glad to see their not wasting tax payers money on sites that already exists in their thousands.

    Maybe they got pulled in by the old clever domain trick.

  • http://webpreneur.net Alex MacGregor

    Nice to here about more UK startups, we’re getting there. I think though we need to have a big breakthrough with an app/service to kickstart more.

    • Jason

      The Western hemisphere would probably get more coverage, if they didn’t just clone everything the Eastern hemisphere does.

      • Jason

        Swap Western and Eastern! :)

  • http://www.perfectmoney.com PerefectMoney

    another idea that value the price of comments ,well ,for now I didnt see what makes this place valuable for advertiser but I think for someone who has idea to make money with from the money what they give ,I think the idea of fav.or.it make money will be my question of all time I really love to find soon

  • http://topify.wordpress.com Martin B.

    Hmm, sounds good but I’m wondering.. do all those blogs really don’t mind? fav.or.it is displaying full entries and full feeds all hosted on their site.. it actually takes a while of clicking till you get a link to the source blog.. Is that OK with everyone or am I missing something here?

  • http://uk.techcrunch.com Mike Butcher

    Martin B. – The idea is that Feedbroker (launching shortly) will allows content owners to control how their feed appears in Favorit. If they don’t want it there they just remove it etc

  • http://www.ukstevieb.com/2009/02/13/steviebs-shared-items-february-13-2009/ StevieB’s Shared Items - February 13, 2009 at Lost in Cyberspace

    […] Fav.or.it secures new funding round for push into corporate blog trackingFebruary 12, 2009 […]

  • http://loogic.com/crisis-como-las-de-silicon-valley-son-las-que-necesitamos-por-aqui/ Crisis como las de Silicon Valley son las que necesitamos por aquí Loogic.com

    […] 500.000 libras de inversión en el agregador de feeds y comentarios Fav.or.it. […]

  • http://konolab.com cuan

    nice on Nick, esp in the current climate. all the hours are worth it….

  • http://socialmediainfluence.com/2009/02/16/twitter-raises-35m/ Twitter raises $35m | socialmediainfluence.com

    […] Butcher at TechCrunch UK reports that Fav.or.it will be pushing into corporate blog tracking. Filed Under: Blogging the BloggersTagged: corporate blogging, Facebook, Fav.or.it, friends […]

  • http://beingfrugal.net/ Lynnae

    Martin B. That is a question I wish Nick would have thought of before launching fav.or.it.

    As one of the blog owners whose full copyrighted feed is being displayed without permission, I’m not at all happy about it. The way fav.or.it is set up makes it look like I am a full participant and contributor to the site, when in fact I’m mad as heck that my copyrighted feed is being published without my consent.

    Furthermore, I know several other bloggers who are plenty mad about this too.

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