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July 24, 2009

Chacha Raises $4 Million in New Funding Round

Filed under: Venture Capital News — admin @ 6:18 am

Based in Carmel, Indiana, the mobile search engine and answering service, Chacha announced that it had raised $4 million in a new round of funding from an undisclosed investor.

With Chacha, users can send almost any question over their mobile phone or device and users can get answers to those questions from other people on the Chacha network. What makes Chacha stand out from other mobile search query services is that it is human powered and not automated. Members on Chacha can actually read a question and answer that question. This makes it much more interesting because with different people answering a question, a user can get an answer that is completely unique and not the same automated robotic answer as one would get with another search query.

Just six months before this round of funding, Chacha managed to close a $30 million round of funding, also from an undisclosed investor. The intent of the funding was first to fulfill a requirement from the Security and Exchange Commission, and the proceeds from the funding were to go to pay off Chacha’s debts to Citigroup.

For more information about Chacha, click here.


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