Feedster Wins Funding Round

RSS search engine and ad network Feedster has been awarded a round of funding by Japanese conglomerate Mitsui & Co.

Mitsui has a history of working with U.S. based digital marketing firms and implementing their technologies in Japan. The company invested in Bigfoot Interactive in 2002, and used that firm’s technology for its own internal marketing efforts. In 2004 it launched a pay-per-click ad network using FindWhat’s private label service.

“We will expand their business horizon in cooperation with our existing e-marketing services, and leverage our assets to enhance the corporate value of Feedster,” said Katsuhiko Oizumi, GM of Mitsui’s Internet service and marketing department, in a statement.

However, Chris Redlitz, Feedster’s VP of sales and marketing, said the investment doesn’t necessarily signify an expansion into Japan.

“There is interest [from Mitsui] to do what we’re doing, and there’s interest to have a relationship,” he said. “In talking specifically about this investment, it was really an investment in our current business. If it leads to something else, that would be a separate arrangement.”

The companies declined to specify the amount of the investment.

Feedster sparked controversy among bloggers and media buyers last month with the release of the Feedster 500, a list of top blogs similar to the Technorati 100. The company was founded in 2003.