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Google Ventures Endows Deal Finder

Google Ventures is investing an unspecified amount of capital in local deal finder Signpost. Until now known as Postabon, Signpost raised about $1 million from Spark Capital earlier this year. "No, it's not what you're thinking -- Google Ventures didn't just invest in a Groupon clone," insists TechCrunch.

"Unlike sites like Groupon, there are dozens or even hundreds of deals visible on Signpost at once, ranging from happy hour at your local bar to a 40% discount at a nearby spa this weekend." Furthermore, "The site's biggest difference from Groupon, though, is the source of its deals: instead of having a salesforce reaching out to merchants, most deals are submitted by other users." CEO Stuart Wall says Signpost is already getting plenty of submissions, but, to encourage greater user participation, TechCrunch suggests that the service will eventually offer contribution rewards. Signpost launched in December 2009, and has bee available only in Manhattan, where 12,000 active deals are currently posted. Beginning Wednesday, the site is supporting deals in San Francisco, Boston, and Chicago.

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