Peter Kafka

Recent Posts by Peter Kafka

Hunch Gets It Right, Adds a $10 Million Series B Round Led by Khosla Ventures

Hunch, a buzzy start-up that answers questions using crowdsourced recommendations, has resolved one query of its own: Who’s going to fund our B round?

Sources tell me that Khosla Ventures is leading a new round that will add another $10 million to $12 million to the start-up’s bank account. General Catalyst Partners, Bessemer Venture Partners, and Ron Conway, who put $2 million into the company a year ago, are reinvesting.

I’m told that Gideon Yu, the former CFO of both Facebook and YouTube, is steering the investment for Khosla.

Hunch was co-founded by Caterina Fake, who founded Flickr and sold it to Yahoo (YHOO) in 2005, and Chris Dixon, who built SiteAdvisor and sold it to McAfee (MFE) in 2006.

Hunch is still a modest-sized site–its internal numbers put it at 1.2 million unique visitors–but Fake and Dixon are well-regarded entrepreneurs. And while they don’t like to be compared with Aardvark, which has a vaguely similar concept, the linkage does have some upside: Last month, Google (GOOG) bought that site for $50 million.

I asked Fake, Dixon and Yu for comment. Until I hear from them, you can read up on Hunch in Kara Swisher’s story from last month. Or you can watch this interview.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work