Genealogy Social Net Geni Raises $10 Million In Funding

Geni, a social networking startup aimed at extended families, raised $10 million from Charles River Ventures, NextNet reported. That ostensibly gives the barely two-month-old startup a $100 million valuation. In January, Geni raised $1.5 million from PayPal founder Peter Thiel’s Founders Fund. The connection stems from Geni CEO David Sacks, who used to be PayPal’s COO. Geni difference from other social nets rests on its specific focus on people interested in genealogical research and cataloguing. Instead of identifying Geni as a social networking site, Sacks calls it “family networking” and the hope is that people interested in mapping out their personal history will recruit other family members to the site.

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