Blippy Gets $1.6 Million For Purchase (Over)Sharing

Blippy, a site which lets users share info about their “favorite purchases” with friends, has raised $1.6 million in funding from a set of big name investors, including Twitter CEO Evan Williams. Users enter either their bank account numbers or information about their accounts on e-commerce sites and then can easily share recent purchases with friends. The purchases show up in a Twitter-like feed — and friends can comment on individual buys.

Personally, I find the concept (and its insistence that “everyone benefits when you share! So why not share a little?”) abhorrent; rather than emphasize the item that was purchased, Blippy instead highlights the amount that was spent. Talk about excessive consumerism! Entries (at least on my feed) also tend to be boring: “Cat spent $4.25 at Subway;” another user responds, “no cookies?” Whoo hoo!

Apparently, however, a number of prominent investors think the site (which just opened to the public) will catch on. The WSJ says the round was led by Charles River Ventures; Sequoia Capital, serial angel investor Ron Conway, and Mahola CEO Jason Calacanis, among others, also participated.