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Here is another annotations service from TechCrunch 50. Dotspots brings the power of Wikipedia or the wisdom of crowds to every block of text on the Internet. It uses automatic semantic matching to distribute each contribution to every instance of that block of text, or meme, across the web.

With their first release they are focusing on improving news and blogs by identifying and indexing semantically similar content across news sites and the blogosphere, while empowering bloggers and individuals to annotate text on their local favorite sites with comments, videos and photos. A voting system is in place which filters every contribution ensuring that the best information is contributed.

"Mainstream news has incredible reach, but its reporting function is broken. Coverage is too broad and the profit motive has made it woefully lacking in investigative and live reporting," said Farhad Mohit, co-founder and CEO of DotSpots. "We aim to fix that by providing ordinary people a tool to annotate news articles with information they feel is useful, whether created by themselves or sourced from anywhere on the Internet. In this way, the wisdom of crowds will help enrich and improve the news."

DotSpots is inspired by Wikipedia and Google, as it also aims to give power and information to the people. It also claims that bloggers will be able reach a more mainstream audience through it, while mainstream media benefits from having the insightful perspective of bloggers available, in context, on each of their articles.

"On the web, it’s the bloggers and citizen journalists who have been doing the real work of investigative and live reporting. DotSpots is now helping them for the first time be able easily attach their work to the mainstream news articles that have massive reach," said Mohit. "It will be interesting to see what happens as the masses get access to all this great information as annotations in context of the same mainstream news articles they’ve been used to reading."