Image: Ryan Hoover
Product Hunt, the popular website that showcases the latest tech products, has raised $6.1 million. The Series A funding, led by Andreessen Horowitz with participation from Reddit Founder Alexis Ohanian, brings the startup's total funding to $7.1 million. Steven Sinofsky, the former Microsoft exec who is currently a board partner at Andreesen Horowitz, will also join Product Hunt's board of directors.
Founded in November 2013 by University of Oregon graduate Ryan Hoover, the site now has 75,000 email subscribers and gets about 2 million pageviews per month. Beyond the numbers, it has growing influence thanks to its all-star backing, which also includes Y Combinator, Ashton Kutcher and Betaworks, among others. The draw is a simple idea: Links about new products are upvoted by a community a la Reddit. The most-favored ones rise to the top. With the new funding, Product Hunt is looking to build on that success by adding redesigned user profiles and the ability to follow individuals within the community. At the moment, the site is looking to grow rather than make money, Hoover says. "Although we're making money promoting job opportunities on the site and in the email, we're
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not focusing on monetization," he says. "It's more important for us to build an even stronger community and grow our user base for the immediate future."
Read more: http://mashable.com/2014/10/08/product-hunt-6-1-million/ Product Hunt Raises $6.1 Million, Adds Former Microsoft Exec to Board
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