YourStreet.com is launching. From TechCrunch…
What do you get when you combine Google Maps with hyper-local news and comments? You get a map-based news site called YourStreet… [it] detects where you are located and serves up news stories about events that recently occurred in your city or neighborhood, as well comments from YourStreet members who live nearby.
The startup has developed an algorithm that extracts geographical information from stories, such as street names, neighborhoods, and cities. It then geo-codes the articles against a longitude and latitude database so that it can place them on a map… If he can attract enough local visitors to YourStreet, the local dry cleaner may also want to show up to advertise there. The localized ads will be simple text ads at first, but they could also eventually be push pins of a different color.
YourStreet has been self-financed so far by Nicholson to the tune of about $400,000. His last company, Netventures, was sold to CNET in 1999 for about $12 million.