Tuesday, March 5, 2013

Cheers Gains $2.5M To Spread Happiness, Joy

Is the world short in happiness and joy--and how can a mobile app change that? Los Angeles-based Cheers, the new startup from Bizrate founder Farhad Mohit, disclosed Tuesday afternoon that it has raised $2.5M in a Series A from investors to help build out its mobile apps, which let users show their appreciation for people, things, and places they love. The funding came from MindFund, Charles River Ventures, Trinity Ventures, Naval Ravikant, as well as others. Cheers actually has a pair of iPhone apps -- one, Cheers, is aimed at sharing "good in your life", the other, "Gripe" calls itself the "Better Business Bureau for the age of social media".

Mohit is one of the pioneers of the Southern California high tech industry, having founded Bizrate back in 1995, based on his thesis at Wharton. Bizrate eventually became Shopzilla, and was acquired by E.W. Scripps for $525M in 2005. Cheers launched last February.

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