XYDO Gets $1.25M For Social News

Park City, Utah-based XYDO, which is developing a social news site which uses social networking sites to rank articles, said Tuesday that it has raised $1.25M in a funding round. The round was led by EPIC Ventures, as well as un-named angel investors from San Francisco, New York, and Salt Lake City. The firm said it will use the new funding to further develop its product and expand its team. Nick Efstratis of EPIC Ventures joins the company's board along with the funding. XYDO is headed by Eric Roach, and launched its services on May 3rd. More information »