Mancx closes second round of funding
- Growth continues with appointment of Head of Development Jonas Bergström -
27 June, 2011, London and Stockholm: Mancx, the first fully transactional knowledge market with global payin/payout capabilities, today announced the successful close of its second round of funding after receiving over one million USD.
Launched in April this year, Mancx.com provides a market for personal knowledge where business professionals, freelancers and companies can meet openly or anonymously and trade information – ranging from simple questions to complex business information requests. Mancx connects the inquirers with the respondents, and offers them a secure environment, as well as total anonymity if desired, in which to negotiate and conclude a deal, taking a 20% commission on every concluded transaction, quoted in US dollars.
As Mancx.com launched, the company was in the process of negotiating additional seed funding which it has now successfully closed. Mancx has received 6,020 million Swedish Kronor in external funding and 1,1 million Swedish Kronor from the founders, amounting to a total of more than 1.1 million USD.
The new investors include the well renowned investors Bo Axel Ax:son Johnson and Nils-Robert Persson. Both have an outstanding record of building international businesses. Per-Arne Nordlander, the Swedish angel investor with long-standing experience of investing successfully in high-tech companies, remains as both investor and chairman of Mancx.
The new funds will be used to support further development of the Mancx.com knowledge marketplace, and will drive an aggressive marketing push.
As a first step in the growth strategy, Mancx has appointed Jonas Bergström as Head of Development. Jonas comes from the online games and gambling sector, and was previously the lead developer of global online gaming provider bwin, responsible for the running of bwin’s poker platform P5, the world’s largest Ongame Network.
Henrik Dillman, CEO and co-founder of Mancx, says: “We are delighted to have so successfully closed our second round of funding, as this will enable us to continue our growth, expanding our online marketplace for personal knowledge. Taking on Jonas Bergström as Head of Development means that we can further build on our patent pending solution for trade with information, and explore further apps, widgets and improved functionality. This is crucial for our continued growth as we see the next two years as decisive: this is the time when social search and global trade with knowledge will grow exponentially.”
Jonas Bergström, Mancx’ new CTO and Head of Development, says: “I am very happy to be joining the Mancx team at such an auspicious time of growth. In contrast to the multitude of online services where users can exchange knowledge for free, Mancx is the first knowledge market of its kind to enable exchange of information in return for money between its users, thereby guaranteeing a greater richness and quality of the information. It is exciting to be able to create and set the new standards within social search and global trade of knowledge.”
Ends
Notes to Editors
About Mancx
Mancx is an online knowledge market. Mancx offers a trusted, fully transactional, secure environment, with processing and marketing tools to buy and sell information, openly or anonymously. For information buyers, Mancx is the place to go to for answers to the business questions they face on a daily basis. For information sellers, Mancx offers a way to capitalize on accumulated knowledge and to build their personal brand profile as sources of valuable information. Mancx is a privately held company based in Stockholm, Sweden.
Relevant research on the role of financial incentives for Q&A and knowledge markets:
"Why Pay? Exploring how financial incentives are used for questions & answers"
Gary Hsieh et al [2010-04-15] https://www.msu.edu/~garyh/docs/hsieh-CHI2010-mahalo.pdf
"Knowledge Market Design: A Field Experiment at Google Answer", Yan Chen, Teck-Hua Ho et al [2008-11- 08] http://yanchen.people.si.umich.edu/papers/google_answer_20081124.pdf
"Darpa Network Challenge, Project Report", [2010-02-16]
http://www.eecs.harvard.edu/cs286r/papers/ProjectReport.pdf
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