Posterous Gets $5 Million In Funding
Posterous is considered rather comically to be a ‘poor man’s’ version of Tumblr. But that perception is fast changing as Posterous attract the level of venture capitalist funding that has helped build its rivals.
The latest funding round sees Redpoint Ventures, Jafco Ventures (a new comer to funding rounds) and a few other more established venture capitalists. The Series B funding round didn’t attract the level of funding that many expected ($5 million isn’t exactly earth-shattering when you are a growing tech company), but it was enough to make the news, and perhaps add to Posterous overall value.
More importantly though, the new round of funding highlights the direction that Posterous hopes to take. The growing blogging platform had a complete overhaul recently and introduced a new concept for users called ‘Posterous Spaces’. The new Posterous will focus more on targeted blogging and sharing and works pretty much like the seminal Google+ Circles.
So far users have had mixed reactions to the new Posterous; some people think it’s a cool idea, other are not too sure. At any rate, it’s probably too early to gauge overall user satisfaction; we’ll just have to give the functionality a chance to settle with users.
Posterous’ ambitions probably won’t go unnoticed (especially by Tumblr), so it will be interesting to see how they cope with the responses to their growing influence in the blogging space.
Do you think Posterous is ready to seriously challenge Tumblr? Share your thoughts with us in the comments below.