Wikio gets a nice chunk of change

European based Wikio announced a funding round of $5.3 million. More accurately they got 4 million Euro in funding. Wikio is a mixture of Digg and Google news. Wikio relies on user generated content as well as the automatic indexing of blogs and associated media. A nice feature is the ability to define your own tab based on different tags. Wikio has English, German and Spanish versions. The funding was led by Lightspeed Venture Partners and Gemini Israel Funds.

Other than displaying ads (which I dont see) Im not sure what the business plan is.

Via techcrunch