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Redpoint Ventures Buys Another $7M in Answers Corp. Stock

Authored by Mark Hefflinger on June 11, 2009 - 8:09am.
New York - Answers Corp., creators of online reference sites Answers.com and WikiAnswers.com, announced on Thursday that venture capital firm Redpoint Ventures has exercised its option to purchase another $7 million of the company's stock.

The firm bought $6 million in shares last June.

"This investment confirms their support and confidence in our vision to build the world's best Q&A site," said Answers chairman and CEO Robert S. Rosenschein.

New York-based Answers' flagship site includes content on millions of topics from over 250 licensed sources, such as Encyclopedia Britannica and Barron's, while WikiAnswers.com is a community-generated "social knowledge Q&A platform."

 

Related Links:
http://ir.answers.com/releasedetail.cfm?ReleaseID=389126

Published in DMW Daily, June 11, 2009
tags: Deals | Search | Redpoint Ventures | Investments | Answers Corp. |



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