Menlo Park, Calif. -- Edgeio, a Menlo Park-based developer of a classified advertising search engine, said that it has raised $5 million in its first round of venture capital financing. Intel Capital led the round, with Transcosmos Investments and Business Development Inc. also participating. Launched in March, Edgeio has developed a network of over 3,000 publishers, who upload their listings to the company's Edgedirect service, which now adds 700,000 new ads each day to the more than 100 million available on the site. The company also announced that it has launched a Chinese version of its service, and filed for patents covering its "distributed marketplaces architecture" and some features of its web site.
http://blog.edgeio.com/?p=40
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