Blippy, a startup which lets you share online what you spend on your credit card, has raised $1.6 million in funding.  The round was led by Charles River Ventures.  Also participating was Sequoia Capital, Evan Williams, Jason Calacanis, James Hong, Ariel Poler and Ron Conway, according to online reports.

The San Francisco-based startup could be considered a sort of Twitter for credit card purchases.  Instead of "What's happening?", Blippy's tagline is, "What are your friends buying?"  Users sign up and opt to share with the world in real-time, where and what they are spending their money on.  So instead of a tweet update, you see something that looks more like this:

Users can share purchases from iTunes, Amazon, Zappos, Visa, MasterCard and others.  

At its current state, Blippy has about 5,000 users which account for $5 million in purchases in the past few weeks - an average transaction is just above $42, said founder Philip Kaplan in an interview with All Things D.  

With a staff of four employees, the funds should keep Blippy running for the next 12 to 18 months.  With a real-time updating service like this, we should expect to see some Facebook and Twitter connectability.  

Along with the funding news, Blippy is now open to the public - in case you want to share with the world how you are spending your money.  Personally, I'm still not ready to be so transparent, but am quite interested to see how far the startup can take this.  

We've contacted Blippy for an interview because there are, oh so many questions to be answered.