Zurich – SmallRivers, the developer of a service that
aggregates streams from a user’s social connections into an online newspaper
called Paper.li, has raised $2.1 million in new funding, TechCrunch reported.
Investors included Highland Capital Partners, Softbank Capital and Endeavour
Switzerland-based SmallRivers’ Paper.li service collects status updates
and posts from a user’s friends on social services like Facebook and Twitter,
and republishes them in an online newspaper format.
The service counts 2
million users and is publishing 140,000 user newspapers.
The company will use
the funds to expand into the U.S. and Asia.