Google Ventures Backs Local Deals Aggregator Signpost

Google (NSDQ: GOOG) VC arm Google Ventures has made an undisclosed investment in Signpost, a site that aggregates local deals in four major U.S. cities. Site users can post their own deals — like a discount at a restaurant — and rate those that have already been submitted. Signpost says it wants to call attention to the “hundreds of deals in your neighorhood that are better than anything you’ll find in a daily e-mail or chance flyer you happen to pick up.”

Google Ventures’ investments don’t necessarily match markets Google itself wants to enter; the unit has backed a biotech startup, after all. But it’s worth noting that executives were asked just last week during the company’s earnings call how Google might participate in the daily deal and private sales markets. While Signpost isn’t a daily deals or private sales site, it presumably hopes to benefit from the high interest in finding local discounts.

SVP Jonathan Rosenberg’s response during the call (via SeekingAlpha):

“All right, sure. There is no question, … there is a very exciting space related to daily deals, which we are seeing, and there is obviously a lot of small companies that are doing a fabulous job there. We do participate to some degree, there are some companies that use site links for hot deals. So, there is a mechanism that we already have where advertisers are actually putting in case deals and highlighting them, but there