ChaCha Receives Investment from Qualcomm

Jan 20, 2011


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ChaCha, which achieved a significant financing round in the fourth quarter of 2010 according to analysts, closed $3 million of additional funding-including $900,000 of outstanding warrants from new investor Qualcomm Ventures. This extends the round led by Silicon Valley investors VantagePoint Venture Partners, and Rho Ventures in October 2010. ChaCha is a free, real-time answers service, and has answered over a billion questions since inception. The company has nearly 32 million unique inquisitive users monthly and answers over 3 million questions daily.

In December, ChaCha hit a record of nearly one million unique visitors to ChaCha.com in a single day and hit another record of two million mobile SMS text questions in a single day. Since its inception five years ago, ChaCha has raised approximately $75 million from prominent tech leaders, venture capitalists, and angels. The most recent round in October 2010 was led by new investors VantagePoint Venture Partners and Rho Ventures, joining previous ChaCha investors Bezos Expeditions, Morton Meyerson (former leader of EDS and Perot Systems), Rod Canion (founding CEO of Compaq and creator of the portable computer industry), and others.

(www.chacha.com)