Santa Monica based shopping 2.0 site, ThisNext, recently received another 5M in a series B round from their previous investors Clearstone Venture Partners and Anthem Venture Partners (according to Techcrunch) .  This backs up their Series A round of 3.5M.  They also may raise another 2-3M in debt financing (according to socalTECH).

We have already profiled thisnext here, and the general mixed review still stands.  They've also received mixed reviews from others, so the real question is whats up with total 11 Million+ these guys could potentially be sitting on?  Apparently its for growth capital and more employees, but geez it seems like a crazy burn rate to me.  Sure they have steady traffic growth, but I'm still not convinced they are doing anything so revolutionary to justify the valuation.  Much like mahalo, I think these guys are probably just doing well making the funding rounds because of their connection with Jason Calacanis.  Sometimes I wonder if VCs just seem to throw gobs of money at companies connected with serial entrepreneurs, and throw out the level of scrutiny they extend to unproven startups.  In many ways, this is a shame, serial entrepreneurs many times have mediocre ideas the second time around, whereas there are many good startups that struggle to get funding because of their inherent unproven nature.  And while understand the value of mitigating risk, the current trend of extending strong funding to serial entrepreneurs because of their track record, not their idea, maybe tipping the risk balance the wrong way.