Company CEO, Johan Othelius, says its largest group of users is the 18 to 24 age group, closely followed by those aged 24 to 36.
"Young professionals are our biggest market," said Othelius, "and the most popular subject is technology."
Squid Software, which is not to be confused with a web proxy server of the same name, was set up earlier this year with the aim of being flexible and encouraging users to tailor news to reflect their interests and tastes.
"What users most like is discovering new sources of news that they did not know about," said Othelius. "In users studies, they constantly talk about the new things that they have discovered."
Squid pulls in news from as many different news outlets as possible. "Our aim was always to provide access to the widest variety of news outlets. I am very pleased that we have shown that we can do that," said Othelius.
He said the advantage Squid has over its rivals is the ability to pull down news from many sites although if you access only every few sites on a regular basis, Squid can help you to drill down to uncover different aspects that you may not have considered.
"If your passion is football then just look at football sites," says Othelius, "but our site will uncover more aspects of those sites for you."