ChaCha Closes $14 Million Round to Fuel Growth
Investment from VantagePoint Capital Partners and Rho Ventures
SAN FRANCISCO & CARMEL, Ind., January 28, 2013-- ChaCha, the leading human-powered Q&A site, today announced that it secured $14 million in funding in a round led by investors VantagePoint Capital Partners and Rho Ventures. Since launch, ChaCha has established itself among the top fifty websites and top five mobile sites, answered more than two billion questions, and partnered with hundreds of leading brand advertisers.
“ChaCha has proven its value with fast growth in audience and revenue, and this round of funding enables significant investment in new products, allowing ChaCha to expand its mobile and online experiences for both users and advertisers,” said Scott Jones, CEO of ChaCha.
Headquartered in Carmel, Indiana with offices in New York City, San Francisco, and, soon, Los Angeles, ChaCha has established itself as a dominant player in the Q&A, mobile, and social domains. Over the past year, ChaCha has experienced robust growth including:
• Website monthly visits have more than doubled to 68 million.
• Unique visitors grew to 45 million people, up from 25 million.
Thanks to its growing audience of users and its interactive, conversational format, ChaCha has become a valuable marketing tool for brand advertisers and a leading online and mobile resource for consumers. Some of the major brands that have worked with ChaCha include online, consumer packaged goods, entertainment, automotive and media brands among others.
“ChaCha has developed unique products that are just beginning to scale up,” said Richard Harroch, Managing Director and Global Head of M&A at VantagePoint Capital Partners, “We are especially optimistic about the prospects of the company.”
To expand its product base, ChaCha recently launched Social Reactor, a premium social engagement platform providing advertisers access to more than 270 million engaged followers of social influencers and celebrities across social channels including Twitter, Tumblr and others.
For more information about ChaCha, please visit: http://www.chacha.com/.
ChaCha is the leading source for free real-time Q&A. Through its unique "ask-a-smart-friend" platform, ChaCha has answered over 2 billion questions since launch from more than 40 million unique users per month via online (ChaCha.com), iPhone app, Android app, mobile text (242-242), and voice (1-800-2-ChaCha™). ChaCha is one of the fastest-growing mobile and online publishers according to Nielsen, comScore and Quantcast, was named by Forbes as one of America's Most Promising Companies, and is a Red Herring Global Top 100 Company. Follow ChaCha on Twitter: @ChaCha and @ChaChaMan.
Erica McDonald, 646-202-9784
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