I managed to get a fresh load of stories regarding the Finnish startup scene yesterday. While the companies themselves have not made too much noise about these, they are valid to break to keep the system as transparent as possible. There are 3 investment deals and one acquisition offer that was did not go down.
To begin with, we have Muxlim. The world’s largest online network for Muslims. They have about 200 000 registered users at the moment. The story is that they have recently closed a round of financing from Europe, possibly UK. There is no word on the size of the round, nor who the investors are but this is what we’re hearing from the street.
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Eat.fi, a Finnish website that focuses on restaurant search and reviews, finally rolls out its business model after building the high quality site and community for three years. The company, quite predictably, has chosen to let the restaurant owners advertise their lunch time specials and other offers.
Even though you could argue that is has taken way too long for the founder Tina Aspiala to monetize the site, it might have been worth the wait. Eat.fi is one of the only Finnish sites that I use regularly when checking out new restaurants and especially while making lunch and dinner meetings. To get an idea of the popularity of the site, Eat.fi iPhone app topped the Finnish App Store and boasts currently about 12,000 downloads (and 2,000 Ovi Store downloads).
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Grand One 2009, a competition for the Finnish new media scene to showcase their year’s work, came and went. As we wrote earlier on, we got an invitation to partner with Grand One since they want to push the event forward every year and be on the pulse of all things digital, which is nothing short of admirable. This time being on the pulse meant to invite startups to the competition. This was the first time ever! If someone has missed (or ignored) the fact that startups have lately entred the mainstream hear in the Northern Europe and become the cool thing to do, now even they have to recognize the shift: When the marketing scene comes knocking on the door it means you have just hit the mainstreet.
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Asmo Halinen, one of the original three Apaja founders, officially announced that he’s taking the over the CEO role at One Did It. One Did It is a Finnish startup specialized in eco-social networking.
Halinen has been busy after his announcement to leave Apaja. I still can’t make out what One Did Its business model is (previous blog post here), but there probably is one based on the rather long line of investors they have, which include a digital marketing agency Nitro FX, a govenment investment vehicle Veraventure, Kari Rannila, Vesa Puttonen and Esko Reininpoika Alanko.
In addition to acting as a CEO of One Did It, Halinen has also joined to Board of Direcotors or as an Advisory Board member (he does not specify which) to Grey Area Labs and Eat.fi. Both of these startups, Great Area Labs and Eat.fi, are good choices for Halinen. The guys at Grey Area Labs just quit their jobs at Ericsson and decided to start working on their passion, alternative reality games with a serious twist. Similarly, Eat.fi is only getting better. Just recently the leading Finnish restaurant site added an option to filter for vegetarian and children friendly restaurants in Helsinki. Eat.fi is a prime example of a web service done right and for example Dopplr should put in on their site as the first thing you see when you add a trip to Helsinki.
If this would not be enough, Halinen has also joined the Board of Directors at BrainAlliance, A Finnish PHP software house, along with Taneli Tikka, who is also very active on the Board level in Finnish startups.
Eat.fi, the Helsinki based restaurant review site, has shown strong traction in the last months, according to their blog. Although the figures aren’t that high compared to international web services, 10k uniques a week is relatively good – especialy if you look at the growth rate, they have doubled the uniques in a matter of 2 months.

Oindex.fi statistics for Eat.fi
The uniques have been increasing fairly steadily after they redesigned their site and made the service a lot more usable with new features. The biggest obstacles to overcome in my opinion is for them to create a truly scalable service that does not require them to manually insert all restaurants in each city. The service itself has also a lot of potential to grow in other terms for example, adding menus on to the site and enabling users to specifically rate individual foods – something not many restaurant review sites do.
Eat.fi has also attracted other kind of traction. Tina Aspiala, the founder of the company has taken Asmo Halinen of Apaja fame on board as an advisor. Asmo has also joined the ranks of Grey Area as an advisor.
Eat.fi, the Finnish based webservice for restaurant reviews is currently down for the launch of their new site. Tina Aspiala announced today on Jaiku the downtime of the service for a few days. We’ve previously covered eat.fi in July about the new service they had been testing back then.
We haven’t heard any new big features coming out with the service so I’m looking forwards to a fairly clean, bug-free release in a few days as they’ve had about 2 months to fine tune it. You’re able to see the new site through beta.eat.fi (username: eat / password: better). Please do not add any data there, as the database is not in sync to the new site.
Eat.fi, a Finnish website that let’s its users rate restaurants and bars and show which ones are open at a given time, is about to get a serious face lift. The folks at Eat.fi emphasize that the new site is in Beta and unlike Google’s Betas this Beta is really just to test out the functionality, thus all the reviews should still be written to the old site or they will disappear when the new site goes live.
The new site is build on Google maps and the new mashup has really improved the user experience. The site is easier to use and more intuitive from the get go. The functionality has also improved significantly. The website has a new bar on the right hand side of the screen which is quite handy showing the top rated restaurants which are open at a given moment. The ‘top rated’ bar of course changes based on your query, thus filtering out for example all the other venues except ‘Asian food’ if that’s what you’re after.

The smart folks at Eat.fi figured out they could use Jaiku’s active user base to get feedback for their Beta (here). This is an ingenious and many times very effective way to get feedback for your web service due to the vocal yet colorful user base at Jaiku, thus giving you passionate opinions across the board from professional designers and user experience geeks to your average Joe.
The new Beta site and activity at Eat.fi leaves me wondering if or rather when they are taking the concept abroad. It turns out that the same Jaiku thread partly answers that one as well:
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Wow @
Spongefile, this is a great service. When might we have this in Los Angeles???
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@
Spongefile It’s funny you ask… Can we IM on Skype
[...]
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Looks really interesting. Like to see this worldwide. A category of food/reastaurant that is really important to many is Vegetarian (though I’m a raging carnivore myself)
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