Investment will increase scalability and accelerate development
San Francisco, CA, December 9, 2004. Feedster is a rapidly growing Internet search engine that leverages the massive adoption of RSS and XML to provide timely, meaningful search for web service developers and consumers. Today, the Company announced that Omidyar Network is its most recent investor.
“Feedster is currently funded by seasoned Internet experts including members of the New York Angels. We view the investment from Omidyar Network as further validation of our strategy and methodology for growing the business,” said Scott Rafer, CEO, Feedster.
“We recognize that Feedster is fulfilling a need in the marketplace by delivering more relevant information from individual commentary, blogs, and edited news sources,” said Doug Solomon, Vice President, Investments, Omidyar Network. “By leveling the playing field between consumers, web services developers, traditional media publishers and organizations, Feedster enables the public to create a richer, more diverse and connected exchange of information.”
Feedster recently released a preview version of its first Developer API and jump-started its developer community by sponsoring a contest for best Feedster applications. Winners will be selected for best use of Feedster technology with a publishing engine, Firefox extensions, web application, stand-alone RSS aggregator, and for content syndication.
“Developer use of our RSS interfaces already represents a majority of our traffic,” said Rafer. “By releasing formal APIs and building additional developer infrastructure, we will make sure that anyone who wants to build the power of timely, meaningful Internet search natively into their applications can do so.”
About Omidyar Network
Omidyar Network seeks out investments that are “of the people, by the people, for the people.” The Network is founded on the simple core belief that every individual has the power to make a difference. We exist for one single purpose: So that more and more people discover their own power to make good things happen. Since June 2004, Omidyar Network has funded efforts in a number of areas: Microfinance, Bottom-up Media, Open Source, Intellectual Property, Voting and Software. As we learn through partnering and investing, our focus areas will continue evolving. To learn more about us and the people we’re working with, please visit http://www.omidyar.net/