Daily Dot Raises $10 Million as ‘Hometown Newspaper’

New York Observer: The Daily Dot, the “hometown newspaper for the Internet” that only four years ago was a Google Doc and a series of Facebook posts, has rapidly joined the race as one of the fastest-growing news organizations. The Daily Dot has raised over $10 million in additional private funding as it plans to expand its reach and bone up on its New York office. The initial pitch for the Daily Dot was simple: take the practice of local, community-based reporting, and apply it to Internet communities like Reddit and Tumblr.