David Nemetz and his high school buds grew up in Silicon Valley getting their sports info from ESPN.com. But the mainstream site was, well, mainstream.

Where, they muttered, were the reports on mixed martial arts? So after college, the foursome pooled close to $100,000 from their families to hire software developers to create an “open-source” forum where fan-journalists could blog about any sport they like.

Four months after its official launch last February, Bleacher Report and its 2,000 writers hit 1 million unique visitors in a month, reports Bloomberg Businessweek.

Bleacher Report is more than a message board. To bring coverage above unfiltered ramblings, the site’s tech team designed an algorithm that employs reader ratings to lift higher quality contributions to the top of the page.

Also, an editorial staff of five screens every post. In June, Fox Sports (NWS) began carrying Bleacher Report content.

Nemetz, who had worked at a Los Angeles talent agency, says revenue is still meager and doesn’t cover costs. But the site has a financial cushion: Hillsven Capital and other angel investors have fronted it several million dollars.

Photo by Bleacher Report.

Originally posted by Rich Whittle on July 15, 2010 in Ideas.

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