Liz Gannes

Recent Posts by Liz Gannes

Caterina Fake Raising $2M for New Social Start-Up

Caterina Fake, co-founder of Flickr and Hunch and an investor in companies like Etsy, has a new start-up that she says will be consumer-facing and social.

She’s raising what looks like a $2 million round, according to an SEC filing, from a list of investors that she said includes True Ventures, Founder Collective (where she is an investor), SV Angel, Keith Rabois, James Joaquin and Shoshana Berger.

The filing says more precisely that $1.54 million of a $2 million round had been collected as of June 15.

Further Google-stalking shows that the company, which appears to be code-named 2bkco, also involves Marc Hedlund of Daylife and Wesabe as well as Eric Allen of Sauce Labs.

Fake had left Hunch, which makes recommendation technology, after it pivoted from being a consumer destination site to a tool used by other sites. She said on her blog today:
“Entrepreneurs gonna entrepreneur. I have a new startup! We are building something consumer-facing, something social — all the things I love best — for optimal founder-market fit!. It’s crazy times in the Valley and while I prefer doing startups when the going’s tough, money is scarce, and engineers are unemployed — the best time to start a company is always two years ago, and the next best time is now. So now it is.”

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald