The Question and Answer startup Quora raised $80 million funding in a series C round. The funding is led by Tiger Global and its earlier investors including Benchmark, Matrix Partners, North Bridge Venture Partners and Peter Thiel.
Despite its growing user base, Quora has not yet figured out a revenue model but is still hot in the eyes of investors. Often compared to Wikipedia, Quora has been home to a large number of thought leaders on various subjects including Barack Obama joining Quora recently. Despite big names and a community policing model, quality of content on Quora has recently gone down and they are facing a huge challenge in maintaining it.
Adam D’Angelo founder of Quora said,
We still had most of the money in the bank from our series B two years ago. But we have made a lot of progress since then, and Tiger recognized that and approached us. Since they have invested in a lot of similar companies, they knew how to interpret our data without much guidance. Overall they were extremely easy to work with.
Previously, Adam was Facebook’s CTO.
If rumors are to be believed, Quora is valued at $900 million. In their last round, Quora raised about $60 million. Quora has about 70 employees and is based out of Mountain View, California. They are also planning to introduce ads by next year.
Inspite of the tech IPO boom, it seems a long way for Quora to go public in absence of a revenue model. Their main focus would be to build better tools for users to explore their writing history. This funding assures Quora to be independent and continue its open Q&A platform that is competing with Wikipedia now. This cash would be probably used by Quora to strengthen its technology infrastructure and hiring new talent. Quora might make its platform multilingual like Wikipedia.
Watch out this space for further updates!