Monday, June 4, 2007

ThisNext Raises Round Of Venture Debt

Santa Monica-based ThisNext, an online shopping discovery and community web site, has raised a round of venture debt, the firm told socalTECH Friday. The firm's CEO, Gordon Gould, said that ThisNext raised a round from Western Technology Inc., which will go towards giving the firm runway extension prior to the company's Series B funding in the fall. Gould said that the funding should give the firm a strong position and help boosts the firm's valuation in advance of its venture capital efforts. The funding will go towards operations at the company. ThisNext's site provides a social shopping site that allows consumers to share and recommend products with friends and others. ThisNext is venture backed by Clearstone Venture Partners, and now has 11 employees.

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