The deposit-auction site MoneyAisle, which we wrote about last week, has reached its first milestone, $1 million in deposits. Assuming $25k per account, that's only 40 customers, but it's a decent start for a novel way to chase rates online. The company also said it had signed 7 new bank participants, bringing the total to 72.

The company has attracted good press coverage, especially in the Boston area, where MoneyAisle Chairman Ray Stata is the well-known co-founder and current Chairman of Analog Devices. There was a good interview with Stata posted at NECN.com last week.