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Netvibes gets funding

Om Malik has posted an overview of some of the most prominent personal home page services, focusing on Netvibes.  Apparently the company just got a million dollars in funding from the founders of FON and Ning.    A few thoughts:

These RSS feed displaying pages seem low on the functionality and high on adopt ability to me.  It's basically the same thing as MyYahoo, isn't it?  More functionality than MyYahoo, perhaps, and NetVibes released an API earlier this month - so perhaps greater differentiation is just around the corner.  I know I have no interest in reading feeds in headline only format and without folders.  But this is how a large number of new users are getting into reading RSS feeds.  MyYahoo was the first RSS reader I used - for about an hour.

There's no mention of the funding on the company's development blog.  NetVibes has been around for a while, though, and is quite popular.  If it's funding is now coming from other start ups, themselves VC funded, does this speak to Nicholas Carr's supply/demand funding bubble argument?  Carr argues that the Web 2.0 scene isn't a bubble right now because there's not an excess of VC funds looking for projects to fund and thus funding lots of stupid ones.  That someone large hasn't thrown lots of money at NetVibes before now seems to me to support Carr's analysis.
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