News Byte

Academic Social Network Raises Cash From Former Facebook Exec and Others

New York-based Coursekit, a social network for instructors to manage courses and interact with students, has raised $5 million in a first round. The round was led by Social+Capital Partnership, a firm started by former Facebook executive Chamath Palihapitiya. Existing investor IA Ventures and new angel investors also participated. Coursekit, which became available in November, was founded by Joseph Cohen, 20, and two other undergraduate students at University of Pennsylvania.

You Sold Your Company, What Did You Buy First? Here’s What I Did.

Having some money all of a sudden is a weird thing. I’ve always wondered what entrepreneurs do when they hit it. What do they buy, if at all?

AOL Officially Adds 5Min to Its Roster. Next?

Here’s the official press release announcing AOL’s acquisition of 5Min Media. Sources familiar with the transaction tell me it’s an all-cash deal at the high end of the $50 million to $65 million range I reported earlier today. So let’s call it $65 million.

Another Ad Exchange Player: Microsoft Vet Jeff Green Launches The Trade Desk

Last fall, Jeff Green left his job running AdECN, Microsoft’s entry into the real-time ad-exchange business. He didn’t go far. Green is building The Trade Desk, a start-up designed to help marketers buy advertising from exchanges like the one he left.

A Father and Son Team That Founds Web Start-Ups Wants to Finance Them, Too: Ken and Ben Lerer Get Their Own Fund

Meet another set of investors funding New York-based Web start-ups: Lerer Media Ventures, run by Huffington Post co-founder Ken Lerer and his son, Thrillist co-founder Ben Lerer. Their backers include familiar names like Ron Conway and Arianna Huffington.

Hot Potato Is Ready to Eat: Do Twitter, Facebook Users Want Another Real-Time Chatter Service?

Last month I told you about Hot Potato, one of the buzziest start-ups in the very buzzy “real time” sector. Now you can check out the service yourself. Or at least you can get a glimpse of it in this video.
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Angel Group Likes Lights, Camera and Action of Indie Films

As an experienced tech entrepreneur and angel investor, Rizwan Virk was happy to see a solid return on one of his recent investments after just one year. But the exit didn’t come from a software start-up or social media company finding a corporate acquirer. Instead, Virk’s quick payoff came from an independent film.

Loïc Le Meur Speaks About New (and Improved?) Seesmic!

When BoomTown went to visit serial entrepreneur Loïc Le Meur early last year at his San Francisco HQ, he was stoked about the prospects of his “video conversation” community start-up. Fast-forward to today and the entire business plan of Seesmic has been upended, with the video part pretty much junked. Now Le Meur is focused almost entirely on his social media desktop client, as well as Web and mobile versions, which began as a dashboard for Twitter. If at first you don’t succeed, dump and change again–the motto of Silicon Valley!
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Gadget Gods Peter Rojas and Ryan Block Finally Unveil their Newest Gadget Site: Gdgt. Get it?

Does the world need another gadget site? Yes, say two of the gadget world’s biggest stars, who are launching gdgt.com today. The site is the work of Peter Rojas, who helped build Gizmodo and Engadget, and Ryan Block, who took the torch from Rojas after he moved on. Gizmodo and Engadget are the best known and most powerful of the new generation of gadget sites, which makes Rojas and Block revered by the gadget gang and able to cobble together funding. But they’re still taking on a very crowded field.
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BoomTown's Annual Chat With Silicon Valley Angel Investor Ron Conway!

BoomTown likes to get together every year with well-known Silicon Valley angel investor Ron Conway for a chat about what’s up. This year, he drilled down on something he is dubbing “persistent data,” which has all to do with Twitter, the hot microblogging service in which he is an investor. Because of innovations like that, things seem to be looking up in the tech investing space, he said, and he is even predicting IPOs sooner than later.

Here to Save Iceland, Start-Ups: Björk