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Qualcomm Invests $3 Million In Q&A Service ChaCha

January 19th, 2011 01:51 admin Leave a comment Go to comments

Question and answer service ChaCha has just received a $3 million infusion from Qualcomm’s venture arm Qualcomm Venture Partners. This brings the company’s total funding to a whopping $75 million.

In a statement, Scott Jones, ChaCha’s CEO says that Qualcomm’s “experience and insight into the global wireless ecosystem will help ChaCha continue to expand its service worldwide.†ChaCha has been a roll over the past year, achieving profitability, raising boatloads of money, and reaching record traffic numbers for its Q&A product.

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 one day.

ChaCha’s success have proven that flexibility in a company’s business model can end up paying off on the long run. Launched in 2007, ChaCha started as a human powered search engine but encountered the high cost of hiring humans to basically do Google searches and return results to people. The company then evolved into a basic Q&A site, focusing on both mobile and web platforms.

And the company has steadily been adding new features to its platform, including a Facebook integration, business listings and ChaCha.me.

Source: Qualcomm Invests $3 Million In Q&A Service ChaCha

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