Maveron Deposits $8 Million Into Mobile Wallet Company Lemon

Palo Alto, Calif.-based Lemon has raised $8 million in a first round of capital to pay for the launch of its new smartphone wallet. Maveron led the round, with Draper Fisher Jurvetson and The Social+Capital Partnership also participating. The app allows users to take a photo of all of their cards in their wallet, so they can be retrieved later, using a four-digit code. The wallet also organizes receipts, so people can manage their finances. The company was founded in part by Wences Casares in 2011.

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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