Blog Post

Social Media Incubator Betaworks Gets $20 Million From NYT, AOL Ventures, Others

Betaworks, the NYC-based tech investor and social media incubator that has positioned itself at the center of the ‘real-time web,’ has raised $20 million in a second round of funding led by RRE Ventures and Intel (NSDQ: INTC) Capital.

Other new investors include AOL (NYSE: AOL) Ventures, the New York Times (NYSE: NYT), Softbank Japan and Softbank NY, DFJ Growth, and Lerer Media Ventures, CEO John Borthwick tells us.

The services Betaworks has incubated or invested in are a who’s who of the hottest social media companies around right now: bit.ly, Twitterfeed, Stocktwits, Chartbeat, DailyBooth, Hot Potato, Tumblr, Outside.in — to name a few. Betaworks also owns a stake in Twitter via its sale of Twitter search engine Summize to the company in July 2008.

The company says the investment will be used to “grow Betaworks