New York - Tumblr, the developer of an online scrapbooking service, has raised $750,000 in first round finding from Spark Capital and Union Square Ventures, PEHub.com reported, citing a regulatory filing.

New York-based Tumblr looks to differentiate its "Tumblelogs" from standard blogs, saying they "let you easily and quickly post and share anything you find or create."

The company plans to introduce the 2.0 version of its service on Nov. 1.

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