FierceMarkets founder raises funding for b-to-b social media startup

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New York—BestVendor, a new b-to-b startup from FierceMarkets founder Jeff Giesea, announced it has raised $600,000 in seed funding. BestVendor is a social media business that will feature product reviews and recommendations aimed at businesses with fewer than 100 employees. Users will be required to rate a few products they use in their business to gain free access to all other reviews and profiles on the site. BestVendor said it plans to generate revenue from enhanced vendor listings, various pay-for-performance options and transactional fees. “Our vision is to become the first place people turn whenever they need to figure out what to buy for their business, much like Amazon is for books and Yelp is for restaurants,” Giesea said in a statement. “In turn, we'll be a highly efficient customer acquisition vehicle for vendors.”
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