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Summary:

Gowalla, maker of a 10-week-old geo-location app with some 50,000 users, said today it’s raised $8.4 million in a second round of funding. The money will be used “to strengthen growth efforts and further enhance Gowalla’s development capability,” the Austin, Texas-based startup said in a release.

We agree that location is the new hotness, but it’s pretty amazing what a 10-week-old app with 50,000 users can haul in: Today Gowalla said it’s raised $8.4 million from investors Greylock Partners, Shasta Ventures, Maples Investments, Ron Conway, Kevin Rose, Gary Vaynerchuk, Shervin Pishevar, Jason Calacanis and Chris Sacca, plus existing investors Alsop-Louie Partners and Founders Fund (who’d previously put in $2 million). A release from the mobile social network said, “The capital infusion will be used to strengthen growth efforts and further enhance Gowalla’s development capability.” Let’s hope so!

Sarcasm aside, it’s early days in the geo-web, so a big slug of funding from buzz-happy investors could be the strength Austin, Texas-based Gowalla needs. Direct competitor Foursquare, which said it had 60,000 users in October, has just $1.35 million in funding. CNET astutely notes that Gowalla even shares some investors with Foursquare, as well as other fresh location startups like SimpleGeo.

  1. Hopefully now us BlackBerry users wont be left out in the cold.

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  2. w00t Austin Texas!

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  3. Yeah, these apps basically all does the same thing. However, I do like Gowalla’s UI the best.

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  4. [...] which both users and the company have thrived by becoming more public over time. Especially for the hot-hot-hot emerging category of location-aware services, there is an opportunity to be more intimate and also [...]

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  5. [...] eat up a lot of techie mindshare, but they still have very few users — roughly 150,000 and 50,000, respectively. However, by virtue of product design and social norms, users are discouraged from [...]

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  6. [...] and SCVNGR. Investors are happily investing millions of dollars into location-based services such as Gowalla, Outside.in and Hot Potato. (Related: “Why I Love Foursquare” and “Hot Potato [...]

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  7. [...] which recently raised nearly $8.4 million in venture funding from the likes of Greylock, Shasta Ventures and Maples Investments, is still [...]

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  8. [...] The company is going to hit the milestone over the weekend, having just crossed 99,000 users. Gowalla recently raised $8.4 million in venture funding from an assortment of investors including angel investors Chris Sacca and Jason [...]

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  9. [...] the company now plans to release a native Android app. The Austin, TX based startup just received $8.4 million in funding (several same investors as Foursquare) and is closing in on 100k users. A beta version of the [...]

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  10. [...] the company now plans to release a native Android app. The Austin, TX based startup just received $8.4 million in funding (several same investors as Foursquare) and is closing in on 100k users. A beta version of the [...]

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