News aggregator raises $2.5 million from investors

The brainchild of Patrick Spain and Michael Wolff, the news aggregation site Newser has successfully raised $2.5 million in startup money. The money comes primarily from individuals, many of whom were involved in Spain's previous endeavors. Currently, Newser has about 2 million monthly visitors and, despite receiving just a fraction of the traffic that Yahoo and Google News get, is close to breaking even. According to its Web site, Newer is unique in that it compiles news from the top 100 news sources and provides readers with more comprehensive summaries of the stories being covered. Read the PaidContent.org. -- June 19, 2009