Funding Clarification


After we wrote about’s new $15 million round last night, we were confused by conflict in various reports of’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 The remainder went to the founders. In August 2006, after Knight Ridder was bought by McClatchy, was valued at $72 million. The story has now been updated to reflect this information.

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