News Ranking Site Thoof Secures $1 Million In Funding

News ranking site Thoof has raised $1 million financing from Austin Ventures and angel investor Ron Conway., Venturebeat reported. The Austin-based company was started by Ian Clarke, who defected from video-sharing site Revver last year, where he had been a co-founder and chief scientist (before that, he developed P2P technology Freenet). He also brought two Revver staffers with him to Thoof, which is scheduled to launch this week. The site is similar to other news ranking sites like Digg, in that it features a headline, brief summary, and tags to identify the item’s subject. The point of differentiation is that Thoof creates a profile of its users and constantly updates based on the topics readers choose. It then tries to match stories to readers by following the profile.