Everybody Loves Geo: Gowalla Adds $8.4M

We agree that location is the new hotness, but it’s pretty amazing what a 10-week-old app with 50,000 users can haul in: Today Gowalla said it’s raised $8.4 million from investors Greylock Partners, Shasta Ventures, Maples Investments, Ron Conway, Kevin Rose, Gary Vaynerchuk, Shervin Pishevar, Jason Calacanis and Chris Sacca, plus existing investors Alsop-Louie Partners and Founders Fund (who’d previously put in $2 million). A release from the mobile social network said, “The capital infusion will be used to strengthen growth efforts and further enhance Gowalla’s development capability.” Let’s hope so!

Sarcasm aside, it’s early days in the geo-web, so a big slug of funding from buzz-happy investors could be the strength Austin, Texas-based Gowalla needs. Direct competitor Foursquare, which said it had 60,000 users in October, has just $1.35 million in funding. CNET astutely notes that Gowalla even shares some investors with Foursquare, as well as other fresh location startups like SimpleGeo.