Social shopping destination, ThisNext has raised $1.2 million in funding, according to an SEC filing. We've reached out to ThisNext to find out who participated in the round and how it plans to use the funds but are still waiting to hear back. The Santa Monica-based startup has now raised close to $9 million. Previous investors include Anthem Venture Partners and Clearstone Venture Partners.
The service enables its users to recommend their favorite products to one another. They can create profiles and on there and can connect with other users, write reviews of products, and gain rankings - so pretty much a social network based around shopping. The Website also offers distribution tools for bloggers, online communities and commerce sites.
The startup also allows retailers to set up their own profile pages so they can showcase their products there. One of the several avenues ThisNext probably generates revenues from.
The company competes with several other social shopping services including Kaboodle and Like.com.
Check out our episode of VatorBox where Erik Stuart of eBay gives the startup some advice.
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