Quite a few readers may remember Blippy, the social media sharing site which allowed users to post and follow each other’s updates about their purchases via their credit card statements. They received funding from well respected members of the VC community aka Sequoia and Charles River.

At one point I did stop to think whether Blippy will end up as the Type-II error in their portfolios. After all, why would someone want their credit card statement shared across their network – even if it is their self-selected network? And while I was still in this think mode, there was even the episode of users having their credit card information getting google-tagged.

Anyway Blippy have got the ultimate thumbs-up from the market and that is -- Competition!

We’re now talking about Swipely who in their own words provides ‘an online service that changes the way people shop, share and save by turning purchases into conversations. Swipely provides a secure platform for consumers to recommend purchase experiences, discover new places and products through trusted friends, save money, and have more fun shopping.’ Swipely has just raised $8.5 million from another bunch of A-listers i.e. Index Ventures, First Round Capital and Greylock Partners.

On their platform, the user can import credit and debit card as well as online purchases or ‘swipes’ which can then have comments and photos added. What I liked most about them was that the user determines which swipes they want posted plus the amount spent can remain private. Now that’s interesting.

This was the biggest hindrance with Blippy, I had thought – lack of control. But then I went to their twitter account. Well, it seems these features have now been added to their platform as of May as well.

Competition can be good.