paidContent.org - NPR-Audience-Heavy Social Network Gather.com Raises $5.3 Million

Gather.com, the Boston-based social network which is a constant presence on NPR/public radio broadcasts as an underwriter, has received a new round of funding: it has raised $5.3 million in the round, all from previous investors Allen & Co, American Public Media, former CEO of Lotus Development Corporation Jim Manzi, former Hill Holiday CEO Jack Connors, Kevin McClatchy, Andrew Tobias and the Gerace family. The company's focus has always been the NPR and public radio loving audience, and has used the topics discussed on the radio as a jumping points for all kinds of group. It has two major public radio groups?APM and Southern California Public Radio?as investors, and for that reason it has spent a major portion of its marketing money on NPR and local public radio stations. It says that 90 percent of its users are over 25, unlike other more youth-focused general social nets out there. The company says it will reach profitability by end of 2010, though of course did not release any more specifics. It has raised at least $25 million over the years since being founded in 2004. More details in the release.

Funding for general social network are rare these days (besides Facebook, which is a different ballgame); the last one we documented here was Multiply.com in November 2008.

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