Questions and answers site Quora raised $80 million Series C led by Tiger Global, with re-investment from existing investors Peter Thiel, Matrix Partners, Benchmark and North Bridge Venture Partners.
Quora had previously raised $50 million in 2012 at a reported valuation of $400 million.
This new investment could be the last or may be sufficient for Quora to break even and eventually become profitable. The company plans to stay independent, however not go public in the midterm.
According to a mission statement from Quora CEO Adam D’Angelo in late 2012, the site aims to become an Internet-scale Library of Alexandria, a place where hundreds of millions of people will go to learn and share their knowledge.
Currently Quora has managed to build the second largest library on the web, after Wikipedia, and the largest library of first-hand knowledge. It has 400,000 topics on the platform and claims that top content creators could get up to a million pageviews in a month.
Part of the fresh round of investment will be used to hire new developers and to improve the mobile experience; Quora currently gets 40% of its traffic via its mobile app. The platform will also extend into other languages.
Ideas on how to make money include advertising, potentially in the form of matching specific requests with sponsored answers. Another possibility might be promoting certain experts or brands according to Forbes.
- Quora aims to stay independent ‘forever’ with a new $80M stockpile of Series C funding | TheNextWeb
- Quora raises $80 million from Tiger Global to ‘stay independent forever’ | Forbes
- Does Adding More Knowledge to the Internet Really Improve It? | edcetera