Summary:

After we wrote about Topix.net’s new $15 million round last night, we were confused by conflict in various reports of Topix.net’s funding, we wrote in to get clarification. Here is the real story, as we understand it: The newspapers paid $45 million for 75 percent of […]

After we wrote about Topix.net’s new $15 million round last night, we were confused by conflict in various reports of Topix.net’s funding, we wrote in to get clarification. Here is the real story, as we understand it: The newspapers paid $45 million for 75 percent of the company, with the “single-digit millions” Tolles mentioned in our interview going into development of Topix.net. The remainder went to the founders. In August 2006, after Knight Ridder was bought by McClatchy, Topix.net was valued at $72 million. The story has now been updated to reflect this information.

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