Moscow venture fund joins in the funding of LikeHack

Moscow venture fund joins in the funding of LikeHackMoscow Seed Fund joins the deal, which in October 2012, on investment in a content aggregator LikeHack by managing partner Altair Management Igor Ryaben'kii. The Fund will give a 3M RUR loan to the project.

The deal is one more step in the development of public-private partnership in seed financing – the Executive Director of the Fund Alex Kostrov said. – The main point is that the decision to invest in a project is taken by a private investor, and the Fund joins in, if it is satisfied with the deal. Recall that private investors were selected at the competition held by the Fund in the summer of this year. According to Kostrov, they conduct individual work with each investor to conclude new deals.

LikeHack.com is a personal web service for people who are actively working with information. It automatically searches materials interesting to each user at the moment, and automatically creates a directory of all links that the user notes through social buttons such as ''like'' or ''tweet''.

The competitors of the service are different personal information aggregators, bookmark services as well as some search engines, news providers. Main advantages of the project are simplicity, high level of personalization, recommendation system based on collaborative filtering and deep integration with customer's most frequently visited online services.

According to Dmitry Yanin, the Director of LikeHack, the uniqueness of the technology is that the service evaluates the content (photos, videos, articles) the way that the customer would have done it. This is achieved through continuous analysis of user's social profiles, as well as through other users's rating of new content interesting to the consumer. Currently the service processes the accounts of about 500K users of Facebook and Twitter.

Recall that the Moscow Seed Fund made its first investment in early October when Teachbase project, develops distance learning, received an undisclosed amount of money.