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Wednesday, February 1, 2012

OUTBOX RAISES MILLIONS FOR DIGITAL POSTAL SERVICE BUSINESS

➤ Austin-based Outbox, a startup yet to launch a website at press time, has reportedly raised $2.2 million in seed funding for its business, which aims to digitize traditional postal mail and deliver it to users’ tablets. Silicon Valley venture capital firm Floodgate Fund led the investment effort for Outbox, which Harvard Business School graduates Evan Baehr and Will Davis are heading up. Statesman.com reported that Outbox’s service will accumulate users’ mail at the post office, open and scan it, and then store the mail in a digital mailbox, all for free. Revenue would be raised via ad support. The recent funding will go toward hiring employees and finishing product development. Reportedly, Outbox will begin testing the service this spring.

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