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BzzAgent Raises $13.8 Million in Funding

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Word-of-mouth marketing firm BzzAgent said Friday that it had closed a $13.75 million second round of funding - raised from General Catalyst Partners and IDG Ventures Boston - to build new market share and add staff, reports CNET. BzzAgent has clients such as Anheuser-Busch, Cadbury Schweppes, Ralph Lauren and Levi's Dockers.

"BzzAgent is well-positioned to become a category-defining company that will dramatically change the way companies market to consumers," John Simon, managing director at General Catalyst Partners, said in a statement.

BzzAgent's model is dependent on volunteers, or BzzAgents, who talk up merchandise and listen for word on the street about products, then file reports, explains MediaPost. The agents are required to disclose their affiliation with BzzAgent; they file between 4,000 and 9,000 reports a week.

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