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September 27, 2011 01:07 pm GMT

Wikets Raises $1.5 Million From Andreessen Horowitz, Battery For A Rewarding Social Commerce App

Screen shot 2011-09-27 at 1.23.52 AMWikets, Inc., a young social commerce startup, announced today that it has raised $1.5 million in seed funding from venture firms Andreessen Horowitz and Battery Ventures, as well as from six angel investors, including Robert Davoli of Sigma Partners. The startup will use its seed capital, says Wikets co-founder and CEO Andy Park, to ramp up hiring and prepare for the release of its eponymous iPhone app, which will reward users for providing and sharing recommendations on products and places to their friends -- while on the go. From this brief description, Wikets may sound a little bit like a game-ified rewards system overlaid on, say, Yelp. While the Wikets team is not yet sharing all the details of the app's UX -- as the team is busy putting the finishing touches on the app ahead of its expected release date in early October -- nut, to be sure, Wikets is more than a Yelp with badges, designed instead around social commerce, around helping users discover and connect with like-minded people based on shared favorite places and products.

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/5kKfGNgn3Ak/

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