Expedia community site TripAdvisor spinoff, DigitalAdvisor, has received a first round of $1.5 million in cash and $4.5 million in contributions from a total of eight investors, Bizjournal reported. Investors included Riga Ventures and Spinnaker Capital.
DigitalAdvisor was started by TripAdvisor three years ago and currently offers consumer reviews on TVs. It initially began by focusing on a wider range of electronic products and was TripAdvisor’s only non-travel related subsidiary. It’s expected to announce that it will split off from TripAdvisor this week. The funding will be used to begin its solo operations and position the company for future acquisitions. In addition to its TV main ratings site, DigitalAdvisor also runs another consumer review site called DigitalCamera-HQ.com. The company plans to create similar sites focusing on three or four consumer electronics market segments each year.