Oodle Raises New Round; VCs See Opportunities in ‘Social Classifieds’
Oodle, the mega classified platform company, has raised an additional $5.6 million from its existing investors, which include Greylock Partners, Redpoint Ventures and JAFCO Ventures. The company has raised $24 million in total.
Noting that Oodle has recently signed companies such as Wal-Mart, Facebook and MySpace, CEO Craig Donato told us his VCs see a major opportunity to build a “very differentiated and compelling experience for classifieds with a social network.
“As we drive adoption within social networks, there is a great opportunity to help these partners generate a lot of revenue,” said Donato. He additionally noted that the company tripled its traffic in 2008, and received 10 million unique visitors in January.
Donato is our featured kickoff speaker on Day 3 of our Marketplaces conference March 16-18 in L.A. The conference is largely about the cutting edge in classifieds and verticals. MySpace President Jeff Berman is keynoting on Day 1.