Product Hunt, a San Francisco, CA-based community-curated platform of new products, raised $6.1m in Series A funding.
The round was led by Andreessen Horowitz with participation from reddit co-founder Alexis Ohanian and existing investors A-Grade Investments, Abdur Chowdhury, Andrew Chen, betaworks, Cowboy Ventures, CrunchFund, Greylock Discovery Fund, Ludlow Ventures, Naval Ravikant, Nir Eyal, Slow Ventures, SV Angel, and Tradecraft. In conjunction with the funding, Steven Sinofsky, board partner at Andreessen Horowitz, will join Product Hunt’s board of directors.
The company intends to use the funds to grow its team, introduce new features for its iOS app and upcoming Android app, and expand its community-powered product discovery model into verticals beyond technology, including games, music, fashion, TV and movies.
Led by Ryan Hoover, founder and CEO, Product Hunt operates a community-curated platform for daily discovery and discussion of newly launched products. Early adopters and users submit links to new technology creations (e.g., mobile apps, websites and hardware projects) and upvote and talk about the products, often with the makers of the products directly, this resulting in a feed of new and interesting products.
The company is now rolling out new features designed to create stronger connections between its community members including re-designed user profiles, a new user invite system and the ability to follow individuals, allowing members to build a reputation within the community.
FinSMEs
08/10/2014