Q&A Site Formspring Lands Another $10 Million

Friday, 19 November 2010 21:48

Q&A Site Formspring Lands Another $10 Million

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Q&A site Formspring, which raised $2.5 million in Series A funding back in March, reportedly closed its Series B this morning in a $10 million round led by Geoff Yang at Redpoint Ventures. This most recent financing pegs the company at a $45 million dollar valuation.

Formspring is yet another player in the Q&A space piquing investor interest. Since its launch in November, the service now boasts over 16 million registered members, 40 million monthly uniques and around one billion questions answered. Quora, another buzzed about Q&A site, is much much smaller at a modest 200,000 monthly uniques.

Formspring plans to use the cash to focus on building out more social integration into its service. Its first financing round attracted such hot angel investors as SV Angel, Travis Kalnick, Kevin Rose and Dave Morin.