Local Net Marketer MerchantCircle Raises $10 Million Second Round; IAC Invests

Palo Alto-based <a href="http://www.merchantcircle&quot;.MerchantCircle, a provider of marketing tools for online local marketing, has raised a $10 million second round from previous investors Rustic Canyon Partners, Scale Venture Partners and Disney’s Steamboat Ventures along with new investors IAC and Square 1 Bank. IAC actually tipped this, mentioning MerchantCircle as an investment asset when it detailed its split on Monday. According to Dealbook, MerchantCircle did a $4.1 million first round two years ago, making a total amount raised of $14.1 million. The company offers local advertisers a way to build up their web presence, write blogs, distribute coupons, and improve their search engine rankings. MerchantCircle claims it has 300,000 customers, although Valleywag notes that the company’s business practices have been controversial, as some accuse it of engaging in spam. With the funding, MerchantCircle plans to pursue acquisitions. Release.

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