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	<title>AllThingsD &#187; Keith Rabois</title>
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		  <title>All Things Digital</title>
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		<title>Square's Next Round Could Swipe a $4 Billion Valuation</title>
		<link>http://allthingsd.com/20120418/squares-next-round-could-swipe-a-4-billion-valuation/</link>
		<comments>http://allthingsd.com/20120418/squares-next-round-could-swipe-a-4-billion-valuation/#comments</comments>
		<pubDate>Wed, 18 Apr 2012 11:00:58 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[Mobile]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[annual revenues]]></category>
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		<category><![CDATA[Legg Mason]]></category>
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		<category><![CDATA[Owen Thomas]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=197555</guid>
		<description><![CDATA[Square is seeking to raise a fresh round of capital at a valuation of up to $4 billion, according to multiple sources familiar with the situation.]]></description>
			<content:encoded><![CDATA[<p>Square is seeking to raise a fresh round of capital at a massive valuation of up to $4 billion, according to multiple sources familiar with the situation.</p>
<p><img class="alignright size-medium wp-image-197599" title="asiad-jack dorsey" src="http://allthingsd.com/files/2012/04/asiad-jack-dorsey-380x253.jpg" alt="" width="380" height="253" /></p>
<p>If the company is successful, it will have quadrupled its worth since raising $100 million at a $1 billion valuation <a href="http://allthingsd.com/20110628/look-at-all-those-zeros-square-raises-100-million-at-1-billion-valuation/">only 10 months ago</a>.</p>
<p>While that would be astonishing for a three-year-old company, it&#8217;s important to note that negotiations continue, and that investors could ultimately value the company at a slightly more modest number (<em>hmm</em>, like $3 billion?!).</p>
<p>A Square spokesman declined to comment.</p>
<p>Square, which was founded by Twitter inventor Jack Dorsey, has quickly made accepting credit cards via a mobile phone into a mainstream and affordable concept for small merchants.</p>
<p>Over the past year, it has quickly expanded beyond handing out magnetic-swipe readers to offer more robust experiences for both consumers and merchants, including software on the Apple iPad that acts like a register, and software on the iPhone that is a virtual wallet.</p>
<p>The payments method has received a warm reception from mostly small businesses, including taxicabs, food trucks, coffee shops and even lawyers and accountants.</p>
<p>The rumors of Square looking to raise more capital started spreading after Owen Thomas, formerly of the Daily Dot, <a href="http://www.sulia.com/post/electronic-payments/6cc3ad10-9373-47d7-87f2-af1c14ee5f96/">noticed that Dorsey and Square&#8217;s COO Keith Rabois</a> were in Boston and Baltimore, where many institutional investors are based. Thomas called Legg Mason, <a href="http://www.sulia.com/post/technology/3af75fa5-d933-42f8-becc-d2069a45edec/">which confirmed it was looking</a> at the San Francisco company.</p>
<p><img class="alignleft size-medium wp-image-79139" title="square_signature" src="http://allthingsd.com/files/2011/05/square_signature-319x285.png" alt="" width="319" height="285" /></p>
<p>Previous investors in Square&#8217;s three rounds, totaling roughly $137 million, include Kleiner Perkins Caufield &#038; Byers, Tiger Global Management, Sequoia Capital, Khosla Ventures, Visa and well-known entrepreneur Richard Branson.</p>
<p>The big question is whether Square will be able to demand such a hefty valuation.</p>
<p>To determine that, based on what is known about the company, I did some back-of-the napkin calculations to come up with its annual revenue.</p>
<p>Last month, the company said it is <a href="http://allthingsd.com/20120305/square-now-processing-4-billion-in-payments-a-year-launches-square-register/">now processing</a> $4 billion in annual transactions. Since we know that Square charges 2.75 percent per swiped transaction, and 3.5 percent plus 15 cents per keyed-in transaction, we can start to get a better picture of its finances.</p>
<p>Let&#8217;s assume that a quarter of the company&#8217;s transactions are keyed in &#8212; which demands the higher rate. That would mean the company&#8217;s revenue would total nearly $83 million for swiped transactions, and $35 million for keyed-in transactions. Because of the additional 15-cent fee per transaction, let&#8217;s add another $15 million (which might be generous, but would break down to 100 million transactions at $10 apiece).</p>
<p>In all, the company&#8217;s annual revenue would then be close to $122 million.</p>
<p>Most, but not all of that revenue, is then handed over to the credit card companies for processing fees.</p>
<p>To be sure, the company has grown quickly since its inception, and has its eyes set on the very large point-of-sales market. This year, Square said it had plans to expand internationally, and has just hired a new executive from PayPal to take the lead on the effort. In the future it could also generate revenue from advertising or other loyalty programs, although it does not today.</p>
<p>But, by at least one historical measure, the valuation is rich beyond belief.</p>
<p>PayPal, which was also looking to disrupt the banking industry by enabling peer-to-peer payments online, was sold for $1.5 billion to eBay in 2002, just months after going public at a valuation of nearly $800 million.</p>
<p>At the time it went public, the company was roughly doubling year over year and had generated $103.7 million in 2001, its first full year of operations &#8212; or slightly less than Square&#8217;s estimated revenues.</p>
<p>Much like PayPal back then, Square faces intense competition, making alliances with much larger companies or raising big war chests critically important.</p>
<p>Square <a href="http://allthingsd.com/20120319/mobile-payments-price-war-heats-up-as-pay-anywhere-slashes-merchant-fees/">faces stiff competition and pricing pressure</a> from Intuit, eBay&#8217;s PayPal, Google and other upstarts, like Pay Anywhere.</p>
<p>Still, it has made a splash that is seeing major reverberations around the sector, which a big valuation will make larger still.</p>
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		<title>First Class Ticket: Social Travel Start-Up Gogobot Raises $15M in Funding at $70M Valuation</title>
		<link>http://allthingsd.com/20111103/first-class-ticket-time-social-travel-start-up-gogobot-raises-15-million-in-funding/</link>
		<comments>http://allthingsd.com/20111103/first-class-ticket-time-social-travel-start-up-gogobot-raises-15-million-in-funding/#comments</comments>
		<pubDate>Thu, 03 Nov 2011 19:00:54 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[Media]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=139916</guid>
		<description><![CDATA[Around the world in $15 million.]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20111103/first-class-ticket-time-social-travel-start-up-gogobot-raises-15-million-in-funding/gogobot-logo-1/" rel="attachment wp-att-139918"><img src="http://allthingsd.com/files/2011/11/Gogobot-Logo-1-380x135.png" alt="" title="Gogobot-Logo-1" width="380" height="135" class="alignright size-medium wp-image-139918" /></a></p>
<p>Gogobot, the social travel site, said it has raised $15 million in a funding round led by Redpoint Ventures.</p>
<p>Sources said the valuation for the Silicon Valley start-up was around $70 million.</p>
<p>Gogobot said it would use the funds to expand its business. Battery Ventures and CrunchFund also participated in the financing round. Currently, the company&#8217;s revenue is mostly tied to lead generation based on its user recommendations.</p>
<p>&#8220;We really think we have a lot of momentum in the space and we want to keeping pressing forward in pushing social travel,&#8221; said Gogobot CEO and co-founder Travis Katz. &#8220;Travelers want to share their experiences and it is a trend that is only getting larger.&#8221; </p>
<p>To compete with rivals such as TripAdvisor, Gogobot recently released a number of new features, such as an <a href="http://allthingsd.com/20111018/gogobot-goes-mobile-with-new-iphone-app/">Apple iPhone app</a> and <a href="http://allthingsd.com/20110720/gogobot-unveils-flipboard-like-web-travel-scrapbook/">Trip Portfolio</a>, a scrapbook experience via collections about different destinations.</p>
<p>The company, which <a href="http://allthingsd.com/20101116/gogobot-ceo-travis-katz-talks-about-beta-launch-of-social-travel-site/">launched late last year</a>, has raised $4 million in venture funding from Battery Ventures, Google Chairman Eric Schmidt’s Innovation Endeavors and angel investors Chris DeWolfe, Keith Rabois and Oren Ze&#8217;ev.</p>
<p>Here is a video interview I did with Katz last year, talking about the site, followed by the official press release:</p>
<p><div class="video-wsj"><object width="640" height="360"><param name="movie" value="http://s.wsj.net/media/swf/microPlayer.swf"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><param name="flashvars" value="videoGUID=207DB2FB-E3D2-4B99-83F4-169617D56DCF&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/"name="microflashPlayer"></param><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={207DB2FB-E3D2-4B99-83F4-169617D56DCF}&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="640" height="360" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div></object></p>
<blockquote class="memo"><p><strong>Gogobot Announces $15 Million in Funding Led by Redpoint Ventures</p>
<p>SAN FRANCISCO, CA (November 3, 2011) &#8211;</strong> Gogobot (www.Gogobot.com), the world&#8217;s largest social travel site, announced today that it has completed a $15 million round of funding led by Redpoint Ventures. Gogobot will use this new financing to expand its global footprint through marketing, partnerships, and outreach.</p>
<p>Gogobot transforms how we explore new places and capture and share our travel experiences by allowing users to harness the power of their social networks to exchange trusted travel advice and share trip plans and rich visual travel memories. This announcement comes on the heels of the launch of Gogobot&#8217;s mobile app available for the iPhone, iPad and iPod Touch, which is currently a Top 10 Travel App in 31 countries around the world.</p>
<p>&#8220;With its unique offering and seasoned management team, Gogobot is the industry leader in the social travel space. We believe with its vision and timely and unique service, Gogobot is poised for exceptional growth,&#8221; said Satish Dharmaraj, general partner of Redpoint Ventures.</p>
<p>Gogobot users can browse reviews from friends as well as share their photos, reviews and other details about the places they stayed, dined, and traveled on the Gogobot site. Gogobot automatically packages these elements into magazine-style albums, allowing friends to experience your travels with you in real time, see a map of where you were when you caught that sunset, or even make a reservation at the hotel where you stayed.</p>
<p>&#8220;Travel is all about discovering new experiences and sharing them with your friends and family,&#8221; said Travis Katz, Gogobot co-founder and CEO. &#8220;With this new funding, Gogobot aims to continue to grow and pave the way for a new era of travel &#8212; harnessing social media to provide users with trusted, insightful, and enriching reviews at the tip of your finger.&#8221;</p>
<p>Battery Ventures and CrunchFund also participated in the financing round.</p></blockquote>
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		<title>Gogobot Goes Mobile With New iPhone App</title>
		<link>http://allthingsd.com/20111018/gogobot-goes-mobile-with-new-iphone-app/</link>
		<comments>http://allthingsd.com/20111018/gogobot-goes-mobile-with-new-iphone-app/#comments</comments>
		<pubDate>Tue, 18 Oct 2011 16:00:30 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[Mobile]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=133344</guid>
		<description><![CDATA[The innovative social travel site Gogobot is unveiling its iPhone app today.]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20111018/gogobot-goes-mobile-with-new-iphone-app/gogobot-mobile-nearby-screen/" rel="attachment wp-att-133387"><img src="http://allthingsd.com/files/2011/10/Gogobot-Mobile-Nearby-Screen-128x285.png" alt="" title="Gogobot Mobile Nearby Screen" width="128" height="285" class="alignright size-medium wp-image-133387" /></a></p>
<p>The innovative social travel site Gogobot is unveiling its Apple iPhone app today, which will give users of the service the ability to post from a location immediately and also to see where friends have been.</p>
<p>In an interview with me last week, co-founder and CEO Travis Katz said that the move is an important one for the Silicon Valley start-up, since on-the-go trip recommendations using smartphones have become increasingly important to travelers.</p>
<p>&#8220;You live away from your laptop most of your time, and especially on trips,&#8221; he said. &#8220;But you also want to preserve those experiences.&#8221;</p>
<p><a href="http://allthingsd.com/20111018/gogobot-goes-mobile-with-new-iphone-app/gogobot-mobile-customize-postcard-pyramids/" rel="attachment wp-att-133389"><img src="http://allthingsd.com/files/2011/10/Gogobot-Mobile-Customize-Postcard-Pyramids-160x285.png" alt="" title="Gogobot Mobile Customize Postcard - Pyramids" width="160" height="285" class="alignleft size-medium wp-image-133389" /></a></p>
<p>The new travel app, which is now only available on the Apple iPhone, populates to Gogobot&#8217;s Trip Portfolio, a scrapbook experience via collections about different destinations. You can also send postcards from the app &#8212; a la Instagram &#8212; to your collections.</p>
<p>Gogobot, which launched late last year, has raised $4 million in venture funding from Battery Ventures, Google Chairman Eric Schmidt&#8217;s Innovation Endeavors and angel investors Chris DeWolfe, Keith Rabois and Oren Ze&#8217;ev.</p>
<p>Katz said Gogobot would eventually build on other mobile platforms, such as Google Android.</p>
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		<title>Square Makes It Easier for Big Businesses to Sign Up for Mobile Payments</title>
		<link>http://allthingsd.com/20111010/square-makes-it-easier-for-big-businesses-to-sign-up/</link>
		<comments>http://allthingsd.com/20111010/square-makes-it-easier-for-big-businesses-to-sign-up/#comments</comments>
		<pubDate>Mon, 10 Oct 2011 18:00:46 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=130690</guid>
		<description><![CDATA[Square is eliminating a hurdle that may have been a turnoff for bigger businesses looking at adopting its service, which allows people to collect payments using a mobile phone and card reader.]]></description>
			<content:encoded><![CDATA[<p>Square is eliminating one more hurdle that may have been a turnoff for bigger businesses looking at adopting its service, which allows people to collect payments using a mobile phone and card reader.</p>
<p><img class="alignright size-medium wp-image-79139" title="square_signature" src="http://allthingsd.com/files/2011/05/square_signature-319x285.png" alt="" width="319" height="285" /></p>
<p>In a phone interview, Square&#8217;s Keith Rabois explained that the company would no longer hold back a business&#8217;s funds for up to a month if they processed more than $1,000 as a new customer.</p>
<p>Originally, he said when new businesses signed up they would have to provide additional verification in order to receive all of their sales by the next business day. Anything over $1,000 could be held for up to a month. That could easily happen for a plumber, or a small jewelry business that processed potentially large transactions.</p>
<p>The measure was originally in place to reduce fraud, but Rabois said, &#8220;Now that we&#8217;ve been commercially available for a year, we can now spot statistical anomalies.&#8221;</p>
<p>The San Francisco-based company, which is backed heavily by Visa and other investors, has been on a major growth spurt during its first year in business.</p>
<p>Rabois said it&#8217;s all about making the service really simple to use for individuals, small and even large businesses.</p>
<p>The company is now processing more than $2 billion a year on an annualized basis, and has fully authorized 800,000 merchants to use its payments network to date.</p>
<p>To put that in context, Rabois said Visa and MasterCard have authorized 8.2 million merchants. &#8220;In a year, we&#8217;ve been able to offer payments services to the equivalent of 10 percent of Visa and MasterCard&#8217;s network.&#8221;</p>
<p>What&#8217;s more, he said 70 percent of its users have never accepted credit cards before, so they are expanding the number of merchants accepting payments.</p>
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		<title>Exclusive: Max Levchin to Leave Google as Slide Is Shut Down</title>
		<link>http://allthingsd.com/20110825/max-levchin-to-leave-google-as-slide-is-shut-down/</link>
		<comments>http://allthingsd.com/20110825/max-levchin-to-leave-google-as-slide-is-shut-down/#comments</comments>
		<pubDate>Fri, 26 Aug 2011 00:35:07 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
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		<guid isPermaLink="false">http://allthingsd.com/?p=114188</guid>
		<description><![CDATA[Slide, the social apps company that Google bought just over a year ago for about $200 million, will be dissolved; its well-regarded leader Max Levchin will depart Google.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.slide.com/">Slide</a>, the social apps company that Google <a href="http://allthingsd.com/20100806/google-owns-up-to-owning-slide/">bought just over a year ago</a> for about $200 million, will be dissolved, and its well-regarded leader Max Levchin will depart Google, sources close to the matter told <strong>AllThingsD</strong>.</p>
<p>Google confirmed the departure today.</p>
<p><a href="http://allthingsd.com/files/2011/08/maxlevchin.png"><img class="alignright size-medium wp-image-114191" title="maxlevchin" src="http://allthingsd.com/files/2011/08/maxlevchin-358x285.png" alt="" width="215" height="171" /></a></p>
<p>&#8220;Max has decided to leave Slide and Google to pursue other opportunities, and we wish him the best,&#8221; said a Google spokesperson. &#8220;Most of the team from Slide will remain at Google to work on other opportunities.&#8221;</p>
<p>After being acquired, Slide had operated as an independent unit out of Google&#8217;s San Francisco office, maintaining existing apps like SuperPoke Pets and experimenting with new ones such as messaging app Disco and photo-sharing app <a href="http://photovine.com/">Photovine</a>, which was released only last week.</p>
<p>The apps, none of which were extremely popular, will be sunsetted over the next few months.</p>
<p>The news was announced to employees at an all-staff meeting in San Francisco this afternoon, sources said. A source said that some of the Slide team is expected to land at YouTube, which is also operated independently within Google. Slide has about 100 employees, with not too much attrition in the last year, said that source.</p>
<p>Although Slide as an independent start-up had not matched its lofty expectations and valuations &#8212; at as much as <a href="http://allthingsd.com/20080205/max-levchin-on-slides-500-million-valuation-and-other-widgety-issues/">$500 million in a 2008 funding round</a> &#8212; its acquisition brought Google some key assets: Social Web expertise at a time when it was dearly needed, and Levchin, who famously founded PayPal.</p>
<p><a href="http://allthingsd.com/files/2011/08/Photovine.png"><img class="alignleft size-medium wp-image-114192" title="Photovine" src="http://allthingsd.com/files/2011/08/Photovine-211x285.png" alt="" width="211" height="285" /></a></p>
<p>But that was last August. Since then, Google has entrusted its social efforts to two of its existing executives, Vic Gundotra and Bradley Horowitz, who led the team that created Google+. Levchin was left on the fringes with Slide as an autonomous subsidiary, reporting to Google co-founder Sergey Brin.</p>
<p>In addition, at the time Slide was bought, Google CEO Larry Page had not yet reassumed leadership of the company he co-founded. In April, Page consolidated and <a href="http://allthingsd.com/20110407/the-larry-page-reorg-top-lieutenants-promoted-to-svp/">streamlined Google&#8217;s product structure into seven distinct units</a>. And even though the social team may have been the natural fit for Slide, the two were not integrated.</p>
<p>In addition to Levchin, Slide head of product Jared Fliesler also plans to leave Google, and has accepted a position with former Slide colleague Keith Rabois at payments start-up Square, sources said. (Rabois had joined Google only very briefly after Slide was bought, before jumping ship to work with Twitter co-founder and creator Jack Dorsey at Square.)</p>
<p>Levchin has also been an active angel investor, is chairman of the board of Yelp, and &#8212; congrats to him and his wife &#8212; is expecting his second child next month.</p>
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		<title>Gogobot Unveils Flipboard-Like Web Travel Scrapbook</title>
		<link>http://allthingsd.com/20110720/gogobot-unveils-flipboard-like-web-travel-scrapbook/</link>
		<comments>http://allthingsd.com/20110720/gogobot-unveils-flipboard-like-web-travel-scrapbook/#comments</comments>
		<pubDate>Wed, 20 Jul 2011 13:00:42 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[Media]]></category>
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		<category><![CDATA[travel]]></category>
		<category><![CDATA[Travis Katz]]></category>
		<category><![CDATA[Trip Portfolio]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=100304</guid>
		<description><![CDATA[The social travel start-up Gogobot has launched an eye-catching new feature to its site to allow users to make visually striking collections of their destinations on the fly.

Get it? A travel site and on the fly!]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20110720/gogobot-unveils-flipboard-like-web-travel-scrapbook/gogobot/" rel="attachment wp-att-100374"><img src="http://allthingsd.com/files/2011/07/gogobot-640x400.png" alt="" title="gogobot" width="640" height="400" class="aligncenter size-large wp-image-100374" /></a></p>
<p>The social travel start-up, Gogobot, has launched an eye-catching new feature to its site. </p>
<p>Called Trip Portfolio, Gogobot is likening the offering (which you can see in the image above) to a scrapbook experience via collections about different destinations on the fly.</p>
<p><em>Get it?</em> A travel site and on the fly!</p>
<p>But it seems to be more a way to make sharing pages look a lot like a Web version of Flipboard, the innovative social reading app for the Apple iPad.</p>
<p>&#8220;We think this gives people a better way to share the narrative and concept of their trip, rather than just through slideshows,&#8221; said Gogobot co-founder and CEO Travis Katz. </p>
<p>Gogobot, which launched late last year, has raised $4 million in venture funding from Battery Ventures, Google Pooh-Bah Eric Schmidt&#8217;s Innovation Endeavors and angel investors Chris DeWolfe, Keith Rabois and Oren Ze&#8217;ev.</p>
<p>Here&#8217;s the official press release from Gogobot about Trip Portfolio:</p>
<blockquote class="memo"><p>Gogobot Launches Scrapbooking for the Digital Age</p>
<p>Unique new feature transforms capturing and sharing your vacation via the social graph</p>
<p>SAN FRANCISCO, July 20, 2011 &#8212; Gogobot, the fast-growing social travel site that is revolutionizing the way people plan trips by offering users personalized travel recommendations via their social networks, launched today a new and unique feature, the Trip Portfolio. The first of its kind, the Trip Portfolio allows Gogobot users to create beautiful, stylized digital scrapbooks to capture and share all aspects of their travels with friends and families.</p>
<p>&#8220;Our travels are important to us, creating memories that are deeply personal and rich with emotion. Until today, however, people have been limited to sharing these memories through online photo albums where the images are preserved, but the context and narrative that gives them meaning is lost. Today, Gogobot takes the world beyond the photo album, launching a revolutionary digital scrapbook that  allows users to curate and share all aspects of their travels, packaged into a super user-friendly interactive, crisp and clean design,&#8221; said Travis Katz, Gogobot co-founder and CEO. </p>
<p>Called &#8220;Collections,&#8221; the new feature allows users to share their adventures in a format rich with color and context; an enhanced scrapbook for the digital age. Users can share their photos, reviews and other details about the places they stayed, dined, and traveled from the Gogobot site. The collections also allow users to seamlessly integrate their activities from other social media sites &#8212; including their check-ins on Facebook and Foursquare &#8212; and professional photos from Gogobot. All of these elements are pages about each place, allowing friends to learn more about the places you visited, see on a map where you were when you caught that sunset, or even make a reservation at the hotel where you stayed. These elements are presented in a clean and elegant format with an interactive map that allows users to share vacations with their social networks in a streamlined, beautifully packaged layout, while making it easy for friends to use this information to plan their own trips.</p>
<p>&#8220;Why waste time uploading dozens of untagged, uncaptioned photos? Now you can share all your favorite places and memorable moments in rich detail in half the time. Gogobot&#8217;s Trip Portfolio lets you show off the most memorable moments from your trip and helps friends plan their next trip, too,” said Katz.</p></blockquote>
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		<title>Meet Evan Reas of LAL and His Proximity-Based Social Graph for Colleges (Video)</title>
		<link>http://allthingsd.com/20110502/meet-evan-reas-of-lal-and-his-proximity-based-social-graph-for-colleges/</link>
		<comments>http://allthingsd.com/20110502/meet-evan-reas-of-lal-and-his-proximity-based-social-graph-for-colleges/#comments</comments>
		<pubDate>Tue, 03 May 2011 01:20:07 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
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		<category><![CDATA[David King]]></category>
		<category><![CDATA[David Sacks]]></category>
		<category><![CDATA[Evan Reas]]></category>
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		<category><![CDATA[Josh Hannah]]></category>
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		<category><![CDATA[Yuri Milner]]></category>

		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=6185</guid>
		<description><![CDATA[The start-up LikeALittle, or LAL, had fended off NetworkEffect's reportorial advances for weeks. Funny, considering the site helps people flirt with one another.]]></description>
			<content:encoded><![CDATA[<p>The start-up <a href="http://lal.com/">LikeALittle</a>, or LAL, had fended off NetworkEffect&#8217;s reportorial advances <a href="http://networkeffect.allthingsd.com/20110321/ladies-and-gentlemen-open-your-checkbooks-its-demo-day-season/">for weeks</a>. Funny, considering the site helps people flirt with one another.</p>
<p><img class="alignright size-thumbnail wp-image-6193" title="EvanReas" src="http://networkeffect.allthingsd.com/files/2011/05/EvanReas-150x150.png" alt="" width="150" height="150" />But last week we were granted access to the Palo Alto &#8220;hacker house&#8221; where the recently seed-funded LAL team has set up shop to expand its early success into a larger vision. No, LAL is not turning its flirting site into a dating site, but rather becoming a way for people to interact with others who are nearby, as co-founder and CEO Evan Reas described in a video interview embedded here.</p>
<p>LAL, which started at Stanford University last fall and now is live at 450 different colleges, gets 250,000 page views per day for its message boards and Web chat service. Reas estimates 75 percent of Stanford students have used the site. But total user numbers are slightly hard to ascertain, he noted, because LAL allows people to post and chat anonymously.</p>
<p>Reas promises that LAL&#8217;s grand vision will become more apparent in the coming weeks, but for now here&#8217;s why he&#8217;s been able to bend investors&#8217; ears:</p>
<ul>
<li>A dynamic social graph determined by users&#8217; locations seems like an alternative to the static real-name-based Facebook social graph.</li>
<li>Flirting provides enticing content for both participants and voyeurs.</li>
<li>When it comes to virality, densely populated college campuses seem to be a match waiting to be lit.</li>
</ul>
<p>LAL participated in the most recent class of Y Combinator and raised a seed round led by Marc Andreessen of Andreessen Horowitz, as was <a href="http://techcrunch.com/2011/04/28/likealittle-funding/">reported by TechCrunch</a>.</p>
<p>Here&#8217;s the full list of investors, provided by LAL: Marc Andreessen, Paul Buchheit, Ron Conway, Scott Cook, Charles River Ventures led by Saar Gur, Matrix Partners led by Josh Hannah, Ashton Kutcher and Guy Oseary, David King, Yuri Milner, Shervin Pishevar, Brian Pokorny, Keith Rabois, Naval Ravikant, David Sacks and Y Combinator.</p>
<p>Reas told us LikeALittle was probably the seventh or eighth idea he and his co-founders Prasanna Sankaranarayanan and Shubham Mittal prototyped under the header Hawthorne Labs. The quick viral success of LAL at Stanford indicated to the three that they might have found their elusive &#8220;billion-dollar idea,&#8221; so they stuck with it, Reas said. Prior to Hawthorne Labs, Reas had been a co-founder of <a href="https://www.profounder.com/">ProFounder</a> and received his MBA from Stanford.</p>
<p>Here&#8217;s our video chat with Reas, shot in the &#8220;hacker house&#8221; backyard.</p>
<p><div class="video-wsj"><object width="640" height="360"><param name="movie" value="http://s.wsj.net/media/swf/microPlayer.swf"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><param name="flashvars" value="videoGUID=8FFBF2B0-4483-4D1E-AF16-FA131537624E&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/"name="microflashPlayer"></param><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={8FFBF2B0-4483-4D1E-AF16-FA131537624E}&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="640" height="360" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div></object></p>
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		<title>VeriFone Claims Victory Now That Square Is Adding Encryption to Its Card Readers</title>
		<link>http://allthingsd.com/20110429/verifone-claims-victory-now-that-square-is-adding-encryption-to-its-card-readers/</link>
		<comments>http://allthingsd.com/20110429/verifone-claims-victory-now-that-square-is-adding-encryption-to-its-card-readers/#comments</comments>
		<pubDate>Fri, 29 Apr 2011 23:35:16 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
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		<category><![CDATA[credit card]]></category>
		<category><![CDATA[Doug Bergeron]]></category>
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		<category><![CDATA[Jack Dorsey]]></category>
		<category><![CDATA[Keith Rabois]]></category>
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		<category><![CDATA[Paul Rasori]]></category>
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		<guid isPermaLink="false">http://emoney.allthingsd.com/?p=4997</guid>
		<description><![CDATA[A day after Square announced it had received an investment from Visa, it said it would be adding an additional level of encryption into its card reader that plugs into smartphones. But, it insisted, the decision had nothing to do with the accusations of security flaws that VeriFone raised last month.]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-medium wp-image-4998" title="square_swipe" src="http://emoney.allthingsd.com/files/2011/04/square_swipe-168x300.jpg" alt="" width="168" height="300" /> A day after Square announced <a href="http://emoney.allthingsd.com/20110427/visa-invests-in-mobile-payment-company-square/">it had received an investment from Visa</a>, it said it would be adding an additional level of encryption into the card reader that plugs into smartphones.</p>
<p>But don&#8217;t read too much into that.</p>
<p>The decision has everything to do with obeying Visa&#8217;s best practices and nothing to do with the accusations of security flaws raised last month by VeriFone, the 900-pound gorilla in the space.</p>
<p>Does it mean VeriFone&#8217;s concerns are just a teeny-weeny bit valid?</p>
<p>&#8220;Absolutely not,&#8221; said a Square spokesperson. &#8220;Of course, Square meets or exceeds all current industry standards. We are confident that Square already reduces the overall risk in the payments ecosystem&#8230;.As Square is everywhere, we wanted to work with Visa to raise the bar on security for the next decade.&#8221;</p>
<p>The feather-ruffling started last month when VeriFone <a href="http://emoney.allthingsd.com/20110309/verifone-calls-out-potential-security-flaw-in-squares-mobile-phone-payment-app/">issued a fairly bold attack on Square</a>, the San Francisco venture-based company founded by Twitter co-founder Jack Dorsey. VeriFone wrote an open letter to the industry alleging security flaws in the product and also produced a video detailing how easy it would be to steal a cardholder&#8217;s information using a Square card reader.</p>
<p>Square&#8217;s response was that the claims <a href="https://emoney.allthingsd.com/20110309/square-says-verifones-accusations-are-not-fair-or-accurate/">were not fair or accurate and that they overlooked all of the protections already built into your credit card</a>.</p>
<p>A lot of comments on this site and others felt the attack was unnecessarily harsh and pointed to VeriFone&#8217;s insecurity with their position in the market. While admittedly unconventional, VeriFone&#8217;s CEO Doug Bergeron explained his reasons <a href="http://emoney.allthingsd.com/20110316/verifones-ceo-doug-bergeron-defends-actions-against-square-it%E2%80%99s-a-competitive-world/?mod=ATD_search">in a lengthy interview</a>. &#8220;We collectively need to create new technology to reduce fraud, whether you are a venture-backed business or a big business. We are both responsible for our own decisions and should be able to fend for ourselves,&#8221; he said.</p>
<p>Now, Square seems to be caving on the core issues of that debate. And VeriFone is claiming victory. <em>Of course.</em></p>
<p>In a statement, Paul Rasori, VeriFone&#8217;s SVP of marketing, said: &#8221;It appears that Visa’s investment in Square would not have happened without a commitment from Square to address the lack of security of their payment card readers. The industry heard our concern, and Square finally decided to take security into consideration by including encryption on their mobile payment device later this year.&#8221;</p>
<p>The security concerns were addressed yesterday in a blog post <a href="http://blog.visa.com/2011/04/27/square-supports-visa%E2%80%99s-best-practices/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+VisasBlogVisaViewpoints+%28Visa%E2%80%99s+Blog+%E2%80%93+Visa+Viewpoints%29">by Visa</a> and <a href="http://www.visasecuritysummit.com/blog/?p=73&amp;sms_ss=email&amp;at_xt=4db9d989653130ad%2C0">another by Square&#8217;s COO Keith Rabois</a>.</p>
<p>In Visa&#8217;s post, it announced that it had come up with its own best practices for the mobile industry for merchants, software developers and device manufacturers to follow. One of the many things it called for was encryption of cardholder data at the the card reader. &#8220;We are pleased that Square, the Jack Dorsey start-up that enables small businesses to accept card payments through mobile devices, has expressed its support of Visa’s best practices and its intent to adopt them.&#8221;</p>
<p>Rabois wrote: &#8220;The adoption of best practices will help increase trust in innovative payment solutions. Of course, Square complies with all current industry standards, and we are committed to meeting or exceeding industry guidelines as they evolve&#8211;all while keeping our card reader free.&#8221;</p>
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		<title>Topguest Hustles Its Way into Making Travel Loyalty Pay (Video)</title>
		<link>http://allthingsd.com/20110406/topguest-hustles-its-way-into-making-travel-loyalty-pay-video/</link>
		<comments>http://allthingsd.com/20110406/topguest-hustles-its-way-into-making-travel-loyalty-pay-video/#comments</comments>
		<pubDate>Wed, 06 Apr 2011 17:17:57 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
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		<category><![CDATA[Caesars Entertainment Corp]]></category>
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		<category><![CDATA[Geoff Lewis]]></category>
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		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=5210</guid>
		<description><![CDATA["Just hustling," as CEO Geoff Lewis described it, has helped a small, less-than-a-year-old start-up with relatively few users score deals with the likes of Virgin America, Hilton and InterContinental Hotels Group to tie customers' geo-located social media activity with existing loyalty rewards programs.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.topguest.com/">Topguest</a> co-founder and CEO Geoff Lewis says he figured out a way to hack the near-impossible problem of hiring engineers in Silicon Valley: find them in Australia.</p>
<p>Apparently the U.S. visa process coming from Down Under is relatively pain-free, and at a cost of &#8220;a few thousand dollars&#8221; Lewis now has four Australians and himself, a Canadian, working on Topguest. &#8220;No Americans,&#8221; he said as a point of pride in an interview at his San Francisco office this week.</p>
<p>Lewis&#8217; explanation for how a small, less-than-a-year-old start-up with relatively few users can score deals with the likes of Virgin America, Hilton and InterContinental Hotels Group is similar: &#8220;Just hustling.&#8221;</p>
<p><div class="video-wsj"><object width="640" height="360"><param name="movie" value="http://s.wsj.net/media/swf/microPlayer.swf"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><param name="flashvars" value="videoGUID=C7E26EEC-9FC4-404D-8AC0-A80D671AA747&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/"name="microflashPlayer"></param><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={C7E26EEC-9FC4-404D-8AC0-A80D671AA747}&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="640" height="360" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div></object></p>
<p>Topguest ties customers&#8217; geo-located social media activity with existing loyalty rewards programs. &#8220;We have no loyalty or travel domain expertise,&#8221; Lewis said.</p>
<p>Topguest doesn&#8217;t have its own check-in app, but it plugs into users&#8217; Facebook, Twitter, Foursquare and Instagram accounts to pull in their posts. For instance, getting the most likes on Instagram for a picture taken at a U.S. airport this week will earn Topguest users 1,000 Virgin America Elevate points (the minimum amount needed to buy a flight is 2,500).</p>
<p>In comparison to the fleeting attraction of a nearby special offer on Foursquare, Lewis said, &#8220;deals and discounts aren&#8217;t loyalty.&#8221;</p>
<p>Lewis said Facebook is by far the most-used check-in service by Topguest users, and the company&#8217;s recent Instagram integration has doubled unique visitors to its site.</p>
<p>This weekend, Topguest is launching a partnership with Caesars Entertainment Corp in Las Vegas that will earn users rewards points to spend at the company&#8217;s 1,000 venues.</p>
<p>Topguest makes money by receiving an activation fee for users who participate in loyalty programs (so far 10 percent of its users have signed up for a new loyalty program), as well as a monthly fee in some cases.</p>
<p>Ultimately, said Lewis, Topguest wants to act as a personalized concierge tool for its users, helping them make travel reservations to earn and spend loyalty points.</p>
<p>The company does have to fend off users who game the system by checking into multiple hotels in order to accrue more points. Lewis said Topguest has banned hundreds of users already for such abuse.</p>
<p>Personally, I might tend toward the opposite inclination and resist publicly checking into places where I plan to spend the night. But earning miles for airport check-ins? Sure, why not!</p>
<p>Topguest <a href="http://kara.allthingsd.com/20101115/topguest-checks-in-with-2-million-series-a-round-and-peter-thiel-as-advisor/">raised</a> $2 million in Series A funding last year from investors including Founders Fund, as well as angels such as Ron Conway, Keith Rabois, Jeff Clavier and Naval Ravikant. After closing the funding, the company moved from New York City to San Francisco.</p>
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		<title>Twitter Still Hunting For Its Product Boss</title>
		<link>http://allthingsd.com/20110324/twitters-long-hunt-for-product-leadership/</link>
		<comments>http://allthingsd.com/20110324/twitters-long-hunt-for-product-leadership/#comments</comments>
		<pubDate>Thu, 24 Mar 2011 18:25:52 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[David Rosenblatt]]></category>
		<category><![CDATA[DoubleClick]]></category>
		<category><![CDATA[Evan Williams]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[Jack Dorsey]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[Neal Mohan]]></category>
		<category><![CDATA[NetworkEffect]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[Square]]></category>
		<category><![CDATA[Sundar Pichai]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=4760</guid>
		<description><![CDATA[Twitter has spent months looking for a product leader, and had multiple high-profile potential hires turn down its offers for that job. But it is starting to make some progress.]]></description>
			<content:encoded><![CDATA[<p>Twitter has spent months searching for a product leader, and had multiple high-profile potential hires turn it down. But it is starting to make some progress.</p>
<p>This morning the company <a href="http://twitter.com/#!/twitterglobalpr/status/50957508281516033">confirmed</a> it had hired Satya Patel, a former AdSense product manager who was for the last four years focused on software and Internet investments as a partner at Battery Ventures, to be a director of product management.</p>
<p><a href="http://networkeffect.allthingsd.com/files/2011/03/SatyaPatel.jpg"><img class="alignright size-full wp-image-4768" title="SatyaPatel" src="http://networkeffect.allthingsd.com/files/2011/03/SatyaPatel.jpg" alt="" width="111" height="150" /></a>Patel (pictured at right) is to start April 4, Twitter said. His hire was first reported by <a href="http://finance.fortune.cnn.com/2011/03/24/googles-former-ad-man-joins-twitter/">Fortune</a>.</p>
<p>Patel will be a product leader, but not <em>the</em> product leader.</p>
<p>That top spot is still unfilled, and has been since Jason Goldman left the company <a href="http://networkeffect.allthingsd.com/20101209/help-wanted-twitter-seeks-product-direction/">at the end of last year</a>.</p>
<p>Twitter is actively trying to persuade co-founder and Chairman Jack Dorsey to take a more active product role, as was  reported yesterday by <a href="http://www.businessinsider.com/twitter-in-negotiations-to-bring-jack-dorsey-back-as-chief-product-officer-2011-3?op=1">Business Insider</a>. Dorsey, however, has a day job as CEO at Square, the payments company he co-founded in 2009.</p>
<p><a href="http://networkeffect.allthingsd.com/files/2011/03/NealMohan.jpg"><img class="alignleft size-thumbnail wp-image-4769" title="NealMohan" src="http://networkeffect.allthingsd.com/files/2011/03/NealMohan-150x150.jpg" alt="" width="120" height="120" /></a>Other than Dorsey, Twitter seems to have a fixation on hiring Google people.</p>
<p>Neal Mohan (pictured at left), a VP of product management at Google who runs DoubleClick, had also recently been in late-stage discussions to join Twitter, but he was persuaded to stay at Google, according to multiple sources. Mohan is a very significant player at Google and would have been a big catch for Twitter. However, having a monetization person lead Twitter&#8217;s product would have likely been a source of internal friction, those sources noted.</p>
<p>(Related: Late last year Twitter <a href="http://kara.allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/">added</a> former DoubleClick CEO David Rosenblatt to its board.)</p>
<p>Before Mohan, Sundar Pichai, Google’s VP of product management in charge of Chrome and Chrome OS, made a similar choice after being <a href="http://networkeffect.allthingsd.com/20110108/twitter-courts-googles-sundar-pichai-to-be-its-head-of-product/">recruited for Twitter&#8217;s top product spot</a>. Pichai <a href="http://networkeffect.allthingsd.com/20110114/google-holds-onto-product-vp-sundar-pichai-after-daring-twitter-talent-raid-attempt/">decided to stay at Google</a> in January after Google made him a large competitive counteroffer.</p>
<p>For Patel (and Dorsey, if that develops), Twitter product management would not be their only job. If Dorsey were to return to Twitter, he could potentially cede Square leadership to COO Keith Rabois, an experienced leader from stints at PayPal and Square and one of Silicon Valley&#8217;s leading angel investors. Meanwhile, Patel will maintain some of his board seats and remain a venture partner at Battery, as reported by <a href="http://finance.fortune.cnn.com/2011/03/24/googles-former-ad-man-joins-twitter/">Fortune</a>.</p>
<p><a href="http://networkeffect.allthingsd.com/files/2011/03/DorseyTwitter.png"><img class="alignright size-medium wp-image-4771" title="DorseyTwitter" src="http://networkeffect.allthingsd.com/files/2011/03/DorseyTwitter-275x79.png" alt="" width="275" height="79" /></a>The big allure of Dorsey is not only that the idea for Twitter sprang from his brain, but that he has been involved with the company all along, especially since last fall when Dick Costolo replaced Evan Williams as CEO. That would make him a lot easier to integrate than an outsider, sources noted.</p>
<p>Twitter&#8217;s employees and investors alike speak with admiration of Dorsey and express wistfulness that the company&#8217;s true product visionary was forced out in 2008 when Williams took over. Dorsey&#8217;s homecoming would be kind of messianic.</p>
<p>Meanwhile, Williams is much less involved in Twitter these days, having spent much of the winter in Tahoe, though he did come by the office yesterday to <a href="http://networkeffect.allthingsd.com/20110324/gaga-goes-geeky-at-google-and-twitter/">interview Lady Gaga</a>.</p>
<p>However, Twitter hasn&#8217;t just been waiting in a holding pattern for a product head honcho to show up; others at the company have been working on various interesting features and products that will soon launch, said multiple Twitter sources. And importantly, the company recently <a href="http://networkeffect.allthingsd.com/20110321/twitter-brags-of-successful-data-center-migration/">migrated and stabilized its infrastructure</a>, a necessary and overdue upgrade that is probably a good thing to do before any major product launch.</p>
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		<title>Mobile Social Games Developer TinyCo Raises A Big First Round</title>
		<link>http://allthingsd.com/20110225/mobile-social-games-developer-tinyco-raises-a-big-first-round/</link>
		<comments>http://allthingsd.com/20110225/mobile-social-games-developer-tinyco-raises-a-big-first-round/#comments</comments>
		<pubDate>Fri, 25 Feb 2011 16:34:55 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Andreessen Horowitz]]></category>
		<category><![CDATA[Android]]></category>
		<category><![CDATA[Brooklyn Packet]]></category>
		<category><![CDATA[developers]]></category>
		<category><![CDATA[eMoney]]></category>
		<category><![CDATA[entrepreneur]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[games]]></category>
		<category><![CDATA[gaming]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[Ian Spivey]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[iPhone]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[Marc Andreessen]]></category>
		<category><![CDATA[mobile games]]></category>
		<category><![CDATA[Ron Conway]]></category>
		<category><![CDATA[smartphone]]></category>
		<category><![CDATA[Suleman Ali]]></category>
		<category><![CDATA[Tap Resort]]></category>
		<category><![CDATA[Tiny Chef]]></category>
		<category><![CDATA[TinyCo]]></category>
		<category><![CDATA[Tricia Duryee]]></category>
		<category><![CDATA[venture capital]]></category>
		<category><![CDATA[virtual goods]]></category>
		<category><![CDATA[WebOS]]></category>
		<category><![CDATA[Windows Phone]]></category>
		<category><![CDATA[Zynga]]></category>

		<guid isPermaLink="false">http://emoney.allthingsd.com/?p=3107</guid>
		<description><![CDATA[Brooklyn Packs has raised $18 million and is changing its name to TinyCo, which is in no way representative of the company's gigantic ambitions.]]></description>
			<content:encoded><![CDATA[<p>San Francisco-based <a href="http://www.brooklynpacket.com/">Brooklyn Packet</a> has raised $18 million in a first round of funding to make social games for mobile phones.</p>
<p><img class="alignright size-thumbnail wp-image-3113" title="Tinyco_tinychefsmall" src="http://emoney.allthingsd.com/files/2011/02/Tinyco_tinychefsmall-150x150.jpg" alt="" width="150" height="150" />As part of the round, the company is changing its name to TinyCo, which is in no way representative of its ambitions.</p>
<p>The game-maker, which launched in 2009, has already reached profitability after releasing three iPhone titles, including Tiny Chef and Tap Resort. What&#8217;s more, it believes it has what it takes to build a $1 billion company over the next two to three years.</p>
<p>Those aggressive plans is likely what attracted big-name investors, like Andreessen Horowitz, which led TinyCo&#8217;s $18 million round, along with several super angels, including Ron Conway and Keith Rabois.</p>
<p>TinyCo builds mobile games that are free and supported by in-game virtual goods.</p>
<p>If it sounds familiar, that&#8217;s because it is.</p>
<p>In the past four years, <a href="http://kara.allthingsd.com/20110217/zynga-raises-500-million-at-10-billion-valuation/">Zynga has built a company valued close to $10 billion</a> by monetizing games on Facebook through virtual goods.</p>
<p>TinyCo&#8217;s two founders Suleman “Suli” Ali and Ian Spivey, who met each other in high school, said mobile has the potential to spawn great companies in the same way that Facebook did.</p>
<p>&#8220;The mobile opportunity is huge,&#8221; Spivey said. &#8220;Android is going to have 100 million new devices this year, and iOS will add 50 million more. Mobile is where Facebook was two years ago.&#8221;</p>
<p><img class="alignright size-medium wp-image-3112" title="tinyco_tinychef" src="http://emoney.allthingsd.com/files/2011/02/tinyco_tinychef-275x183.png" alt="" width="275" height="183" />Still, investors and entrepreneurs have been optimistic about the potential for mobile games before, and it hasn&#8217;t always gone so smoothly.</p>
<p>For Marc Andreessen, he admits mobile games have been &#8220;out of favor&#8221; for him for years.</p>
<p>&#8220;This is our first important investment in the mobile gaming category,&#8221; he said. &#8220;You needed the iPhone and other platforms, like Android and Windows Phone, WebOS and others, to make it happen. The market wasn&#8217;t ready before, and it didn&#8217;t matter how good the developers were.&#8221;</p>
<p>The company, which has 37 employees, is working next on launching games for Android, just in time for Google&#8217;s launch of in-app purchases, which is coming to the marketplace soon.</p>
<p>Andreessen said TinyCo is a &#8220;classic example of a startup with outstanding entrepreneurs. We are the first money in and its already profitable. That&#8217;s an incredible achievement with no investment.&#8221;</p>
<p>So, does TinyCo have the ability to be the Zynga of mobile?</p>
<p>Andreessen, who is also an investor in Zynga, wasn&#8217;t willing to go there, but added: &#8220;There&#8217;s going to be a whole series of mobile-centric franchises that are going to be much different compared to companies that built on the Web. Mobile is a first-class opportunity.&#8221;</p>
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		<title>1000Memories Funded by Greylock, Angels</title>
		<link>http://allthingsd.com/20110216/1000memories-funded-by-greylock-angels/</link>
		<comments>http://allthingsd.com/20110216/1000memories-funded-by-greylock-angels/#comments</comments>
		<pubDate>Wed, 16 Feb 2011 12:00:49 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[1000Memories]]></category>
		<category><![CDATA[books]]></category>
		<category><![CDATA[Caterina Fake]]></category>
		<category><![CDATA[Chris Sacca]]></category>
		<category><![CDATA[collaborative]]></category>
		<category><![CDATA[designs]]></category>
		<category><![CDATA[domains]]></category>
		<category><![CDATA[eulogy]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[feature]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[Greylock Partners]]></category>
		<category><![CDATA[groups]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[launch]]></category>
		<category><![CDATA[Liz Gannes]]></category>
		<category><![CDATA[memory]]></category>
		<category><![CDATA[Mike Maples]]></category>
		<category><![CDATA[motivation]]></category>
		<category><![CDATA[mourners]]></category>
		<category><![CDATA[NetworkEffect]]></category>
		<category><![CDATA[obituary]]></category>
		<category><![CDATA[Paul Buchheit]]></category>
		<category><![CDATA[pictures]]></category>
		<category><![CDATA[Ron Conway]]></category>
		<category><![CDATA[Rudy Adler]]></category>
		<category><![CDATA[Series A]]></category>
		<category><![CDATA[Smallbiz Feature]]></category>
		<category><![CDATA[storage]]></category>
		<category><![CDATA[stories]]></category>
		<category><![CDATA[Y-Combinator]]></category>

		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=3642</guid>
		<description><![CDATA[1000Memories, the social media site for friends and family to memorialize loved ones who've passed away, is disclosing today it has raised $3 million worth of funding.]]></description>
			<content:encoded><![CDATA[<p><a href="http://1000memories.com/">1000Memories</a>, the social media site for friends and family to memorialize loved ones who&#8217;ve passed away, is disclosing today it has raised $3 million worth of funding, including a Series A round led by Greylock Partners.</p>
<p>The money was actually raised last fall in two rounds after the company completed the Y Combinator program, but for whatever reason it&#8217;s been kept under wraps. NetworkEffect took the opportunity to talk with co-founder Rudy Adler about his year-old start-up this week.</p>
<p><a href="http://networkeffect.allthingsd.com/files/2011/02/1000Memories.png"><img class="aligncenter size-Medium380 wp-image-3649" title="1000Memories" src="http://networkeffect.allthingsd.com/files/2011/02/1000Memories-380x205.png" alt="" width="380" height="205" /></a>&#8220;The Internet was missing a past tense,&#8221; is Adler&#8217;s quip to explain the motivation for 1000Memories. The site offers a central place for mourners to contribute pictures, stories and the like, with the promise of becoming a permanent collaborative obituary and eulogy.</p>
<p>Sites like Facebook don&#8217;t have a great way of dealing with people who pass away, because they are designed for living participants, Adler said. Creating accounts for dead people can be awkward, but perhaps less so on a dedicated, nicely designed site.</p>
<p>Future premium products for 1000Memories may include custom domains, physical memory books, personalized designs and additional storage, Adler said. The company currently helps its users do things like rip and post DVDs, in part because they are often much older and less tech savvy than the average social media user.</p>
<p>1000Memories recently launched a groups feature that was <a href="http://1000memories.com/egypt">used to memorialize those killed in the Egyptian protests</a>. It went viral, with more than 400,000 page views, Adler said.</p>
<p>In addition to Greylock, participants in the $2.5 million Series A round included Caterina Fake, Ron Conway, Keith Rabois, Mike Maples, Paul Buchheit and Chris Sacca. It came through just a couple of months after 1000Memories had raised an angel round worth $500,000.</p>
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		<title>Square&#039;s Jack Dorsey Wants to Replace Everything, From the Receipt to the Register</title>
		<link>http://allthingsd.com/20110207/squares-jack-dorsey-wants-to-replace-everything-from-the-receipt-to-the-register/</link>
		<comments>http://allthingsd.com/20110207/squares-jack-dorsey-wants-to-replace-everything-from-the-receipt-to-the-register/#comments</comments>
		<pubDate>Mon, 07 Feb 2011 16:46:46 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[Mobile]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Android]]></category>
		<category><![CDATA[carriers]]></category>
		<category><![CDATA[consumers]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[eMoney]]></category>
		<category><![CDATA[Intuit]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[iPad]]></category>
		<category><![CDATA[iPhone]]></category>
		<category><![CDATA[Jack Dorsey]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[MasterCard]]></category>
		<category><![CDATA[merchants]]></category>
		<category><![CDATA[mobile phone]]></category>
		<category><![CDATA[online]]></category>
		<category><![CDATA[payments]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[phone]]></category>
		<category><![CDATA[platform]]></category>
		<category><![CDATA[receipt]]></category>
		<category><![CDATA[retail]]></category>
		<category><![CDATA[retailers]]></category>
		<category><![CDATA[revenues]]></category>
		<category><![CDATA[sales]]></category>
		<category><![CDATA[shopping]]></category>
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		<category><![CDATA[Square]]></category>
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		<guid isPermaLink="false">http://emoney.allthingsd.com/?p=2412</guid>
		<description><![CDATA[From the San Francisco Chronicle offices where some of the newspaper's local ad sales used to be, we caught up with Jack Dorsey, co-founder of Twitter and CEO of Square, who wants to redefine the payments process.]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-medium wp-image-2453" title="Square t-shirts from jack" src="http://emoney.allthingsd.com/files/2011/02/Square_t-shirts-from-jack-275x275.jpg" alt="" width="275" height="275" />From the San Francisco Chronicle offices where some of the newspaper&#8217;s local ad sales used to be, we caught up with Jack Dorsey, co-founder of Twitter and CEO of <a href="https://squareup.com/">Square</a>, which is working on ways to accept credit card payments using a mobile phone.</p>
<p>Within a few minutes, I&#8217;d paid Square&#8217;s COO Keith Rabois $2 after he swiped my credit card through a small plastic dongle attached to his iPhone. I signed the screen with the tip of my finger and received a receipt by email to confirm the purchase.</p>
<p>(They did not repeat this transaction more than 10 million times to recently <a href="http://emoney.allthingsd.com/20110110/square-confirms-27-5-million-in-new-round-of-funding/">raise $27.5 million</a>, they promised).</p>
<p>For small-business owners, like an artist at a farmer&#8217;s market or even a family at a Saturday morning yard sale, this could make the difference in closing a sale, especially as our society moves away from cash and more to plastic.</p>
<p>Rabois says 50,000 to 60,000 new users are signing up a month, and Square is processing millions of dollars a week.</p>
<p>It is also convenience&#8211;at a price.</p>
<p>Square charges 2.75 percent plus 15 cents for swiped transactions, and slightly more if you type in a credit card number. For $100, that translates to a $2.90 service charge.</p>
<p>The model doesn&#8217;t replace the need for Visa and MasterCard, but does compete head-on with services being built by those financial incumbents, as well as others like Intuit, PayPal and the wireless carriers.</p>
<p><img class="alignright size-thumbnail wp-image-2461" title="Square_dongle" src="http://emoney.allthingsd.com/files/2011/02/Square_dongle-115x150.jpg" alt="" width="115" height="150" />On the merchant side, it&#8217;s easy, too. Download the app to either an iPhone, iPad or Android device, create an account and receive a Square accessory in the mail. On the user side, your card will be swiped by a small proprietary reader, and you will be emailed a receipt.</p>
<p>Dorsey, who slowed down long enough to talk to us for a few minutes, is the visionary behind the operation, which sees way more applications for what it is building&#8211;from redefining the receipt to getting rid of the register.</p>
<p><strong>EMoney: Last month, Square raised $27.5 million in fresh capital. What&#8217;s the plan for 2011?</strong></p>
<p>Dorsey: The plan includes growing the team, both in engineering and design, and increasing the awareness of Square, which means expanding the user base to the plumber, the piano teacher and the dog walker. As for product innovation, we will do a lot with the receipt. &#8220;Let&#8217;s make it interactive instead of something we throw away.&#8221;</p>
<p><strong>How can the receipt experience improve?</strong></p>
<p>Dorsey: Making payments &#8220;has never been treated as a product. It&#8217;s a burden, and yet it&#8217;s such a common human activity.&#8221; At the heart of it, the receipt process is a publishing platform, he said. &#8220;We can dramatically improve what you take away.&#8221; Currently, a Square receipt includes a picture of the merchant, a description of what you purchased, the amount and a map of where you bought it. When buying a cup of coffee, why not include information about the coffee beans, and link to an article in Wikipedia? A more advanced version would eliminate the need to carry around 20 coffee cards and be intelligent enough to give you a 10th cup free.</p>
<p><strong>Do you think you can replace the register?</strong></p>
<p>Dorsey: &#8220;Yes. They are terrible.&#8221;</p>
<p><strong>How?</strong></p>
<p>Dorsey: &#8220;It&#8217;s a pain, and it takes forever.&#8221; Long lines are created in caf&eacute;s, and waiters must come back with the check. &#8220;We aren&#8217;t just accepting credit cards&#8211;we are simplifying the friction from the payment system. No one has done this.&#8221; Square is looking at making an all-in-one payment and point-of-sale device that could be as simple as an iPad. And, with one swipe of the card, a patron could broadcast his or her location on Twitter and receive loyalty points.</p>
<p><strong>What about innovation on the merchant side?</strong></p>
<p>Dorsey: &#8220;There&#8217;s a lot of attention on the payers, but not the merchants&#8230;.Every Silicon Valley company has a dashboard&#8211;it&#8217;s called Google Analytics&#8211;but a lot of small- to medium-size businesses have no access to data at all.&#8221; A point-of-sale system could cost $15,000, and still it would not track how many lattes were sold vs. blueberry muffins. But what if a system could be built that could track this and show whether to draw correlations between the two? &#8220;Data simplifies everything,&#8221; he said.</p>
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		<title>Square Confirms $27.5 Million in New Round of Funding</title>
		<link>http://allthingsd.com/20110110/square-confirms-27-5-million-in-new-round-of-funding/</link>
		<comments>http://allthingsd.com/20110110/square-confirms-27-5-million-in-new-round-of-funding/#comments</comments>
		<pubDate>Mon, 10 Jan 2011 19:36:24 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
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		<guid isPermaLink="false">http://emoney.allthingsd.com/?p=1494</guid>
		<description><![CDATA[Square, the mobile payments service that's taking on Visa and MasterCard, has confirmed it has raised a $27.5 million round of funding led by Sequoia Capital.]]></description>
			<content:encoded><![CDATA[<p><a href="https://squareup.com/">Square</a>, the mobile payments service that&#8217;s taking on Visa and MasterCard, has confirmed it has raised a $27.5 million round of funding led by Sequoia Capital.</p>
<p>The funding, which has been rumored for some time, also includes previous investors Khosla Ventures, which led a $10 million round in late 2009.</p>
<p>The San Francisco-based start-up now has a valuation of around $240 million, up from a valuation of around $45 million in its prior round of funding, according to a person familiar with the matter.</p>
<p>Sequoia Capital&#8217;s Roelof Botha, who was a former CFO of PayPal, will join Square’s board.</p>
<p>Square charges either 2.75 percent plus 15 cents per transaction if a credit card is swiped, or 3.5 percent plus 15 cents per transaction if a credit card number is keyed into its mobile application. Square&#8217;s dongle, which plugs into an iPhone, is free, and the company doesn&#8217;t require contracts, setup fees or minimums like many of the competitors do, making it attractive to small merchants.</p>
<p>Mountain View, Calif.-based Intuit announced today that its <a href="http://www.businesswire.com/news/home/20110110005516/en/GoPayment-Small-Businesses-Free-Credit-Card-Reader">GoPayment mobile payment service will offer a free credit card reader</a> and no monthly service fees to business owners who sign up by mid-February. Square also faces stiff competition from Visa, MasterCard and American Express, which are all working on mobile solutions.</p>
<p>The cash will be used to build up the company&#8217;s team, which currently numbers 64 employees, including contractors. The company expects to grow its staff to 150 by year&#8217;s end, The Wall Street Journal reports.</p>
]]></content:encoded>
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		<title>Gogobot CEO Travis Katz Talks About Beta Launch of Social Travel Site</title>
		<link>http://allthingsd.com/20101116/gogobot-ceo-travis-katz-talks-about-beta-launch-of-social-travel-site/</link>
		<comments>http://allthingsd.com/20101116/gogobot-ceo-travis-katz-talks-about-beta-launch-of-social-travel-site/#comments</comments>
		<pubDate>Tue, 16 Nov 2010 16:00:12 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=37340</guid>
		<description><![CDATA[Last week, BoomTown sat down with former Myspace exec Travis Katz to talk about the private beta launch of his new start-up, Gogobot.

No, it's not a robot from Google--it's a social travel site, which uses friends to enhance the travel-planning experience.

Essentially, it feels like Facebook for trips, but with really good images.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/11/Gogobot-Logo.jpg"><img src="http://kara.allthingsd.com/files/2010/11/Gogobot-Logo-275x97.jpg" alt="" title="Gogobot Logo" width="275" height="97" class="alignright size-medium wp-image-37344" /></a></p>
<p>Last week, BoomTown sat down with former Myspace exec Travis Katz to talk about the private beta launch of his new start-up, <a href="http://www.gogobot.com">Gogobot</a>.</p>
<p>No, it&#8217;s not a robot from Google&#8211;it&#8217;s a social travel site, which uses friends to enhance the travel-planning experience.</p>
<p>The name means nothing really except that it sounded energetic and adventurous to Katz, with a bit of tech mixed in.</p>
<p>While in a bit of a stealth mode, Gogobot has been a bit of an open secret in Silicon Valley.</p>
<p>Katz and CTO Ori Zaltzman&#8211;most recently the chief architect of Yahoo BOSS&#8211;started the company earlier this year with a small team.</p>
<p>It garnered $4 million in venture funding from Battery Ventures, Google CEO Eric Schmidt&#8217;s Innovation Endeavors and angel investors Chris DeWolfe, Keith Rabois and Oren Ze&#8217;ev.</p>
<p>Gogobot rides on top of social networking behemoths such as Facebook and Twitter.</p>
<p>Said Gogogot in its press release:</p>
<p>&#8220;Unlike other travel sites, Gogobot connects users with friends and people like them for travel advice and links the advice they give in real-time with maps, pictures, pricing and descriptions.&#8221;</p>
<p>Essentially, it feels like Facebook for trips, but with really good images.</p>
<p>Currently, Gogobot links users to hotels and other information, but eventually its business plan is to complete reservations and garner lead generation revenues.</p>
<p>We&#8217;ll see how it goes, but the online travel business, despite being huge among consumers, certainly could use some updating and organization&#8211;and some innovation.</p>
<p>Here&#8217;s the video interview I did last week with Katz&#8211;who ran international operations for Myspace&#8211;talking about where Gogobot is traveling to:</p>
<p><div class="video-wsj"><object width="640" height="360"><param name="movie" value="http://s.wsj.net/media/swf/microPlayer.swf"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><param name="flashvars" value="videoGUID=207DB2FB-E3D2-4B99-83F4-169617D56DCF&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/"name="microflashPlayer"></param><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={207DB2FB-E3D2-4B99-83F4-169617D56DCF}&playerid=4001&plyMediaEnabled=1&configURL=http://m.wsj.net/video-players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="640" height="360" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div></object></p>
<p>And here are a pair of screenshots for the service (click on the images to make them larger):</p>
<p><a href="http://kara.allthingsd.com/files/2010/11/gg2.jpg"><img src="http://kara.allthingsd.com/files/2010/11/gg2-275x171.jpg" alt="" title="gg2" width="275" height="171" class="aligncenter size-medium wp-image-37342" /></a></p>
<p><a href="http://kara.allthingsd.com/files/2010/11/gg1.jpg"><img src="http://kara.allthingsd.com/files/2010/11/gg1-275x171.jpg" alt="" title="gg1" width="275" height="171" class="aligncenter size-medium wp-image-37343" /></a></p>
]]></content:encoded>
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		<title>Topguest Checks In With $2 Million Series A Round (And Peter Thiel as Adviser)</title>
		<link>http://allthingsd.com/20101115/topguest-checks-in-with-2-million-series-a-round-and-peter-thiel-as-advisor/</link>
		<comments>http://allthingsd.com/20101115/topguest-checks-in-with-2-million-series-a-round-and-peter-thiel-as-advisor/#comments</comments>
		<pubDate>Mon, 15 Nov 2010 15:33:57 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=37263</guid>
		<description><![CDATA[Topguest, a check-in loyalty service that was founded just five months ago, has gotten $2 million in Series A funding, as well as nabbing well-known Facebook investor Peter Thiel as an adviser.

Other investors in the round include: Thiel's Founders Fund, as well as angels such as Ron Conway, Keith Rabois, Jeff Clavier and Naval Ravikant.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/11/VA-Elevate-Image-FINAL.jpg"><img src="http://kara.allthingsd.com/files/2010/11/VA-Elevate-Image-FINAL-153x300.jpg" alt="" title="VA-Elevate-Image-FINAL" width="153" height="300" class="alignright size-medium wp-image-37264" /></a></p>
<p>Topguest, a check-in loyalty service that was founded just five months ago, has gotten $2 million in Series A funding, as well as nabbing well-known Facebook investor Peter Thiel as an adviser.</p>
<p>Investors in the round include: Thiel&#8217;s Founders Fund, as well as angels such as Ron Conway, Keith Rabois, Jeff Clavier and Naval Ravikant.</p>
<p>Topguest is exiting its beta phase today with partners that include Virgin America, Hilton, Wyndham Worldwide, Kimpton and others.</p>
<p>Using Topguest, those companies can offer deals, making large travel and hospitality loyalty programs social by plugging them into smartphones and geolocation.</p>
<p>Users check in with their existing services&#8211;such as Foursquare, Twitter, Facebook Places and Gowalla&#8211;in order to get benefits such as air miles for your Virgin Elevate account and hotel points for Hilton HHonors.</p>
<p>Topguest is competing in a crowded market, where a lot of such services are offering many kinds of deals.</p>
<p>The San Francisco start-up is most like another service aimed at retailers called Shopkick, where you get points when you check in to its mobile app.</p>
<p>Topguest said the differentiator is that it links into geolocation services already in use, instead of requiring another different check-in and offers points in already existing loyalty programs.</p>
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		<title>Path: The Social App That&#039;s Not Viral (By Design)</title>
		<link>http://allthingsd.com/20101114/path-the-social-app-thats-not-viral-by-design/</link>
		<comments>http://allthingsd.com/20101114/path-the-social-app-thats-not-viral-by-design/#comments</comments>
		<pubDate>Mon, 15 Nov 2010 05:00:26 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
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		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=324</guid>
		<description><![CDATA[While there are many interesting photo-sharing apps out these days, Dave Morin and Path are the most convincing about there being a larger idea behind what they're doing. San Francisco-based Path is stubbornly focused on close personal connections--a.k.a. real friends.]]></description>
			<content:encoded><![CDATA[<p>Silicon Valley is in the midst of a mini photo-sharing app boomlet. We have <a href="http://instagr.am/">Instagram</a> (which started adding 100,000 users per week as soon as it launched last month), <a href="http://picplz.com/">Picplz</a> (which beat out Instagram to get a <a href="http://mediamemo.allthingsd.com/20101110/no-its-not-instagram-photo-sharing-app-picplz-raises-5-million/">Series A</a> round with their shared investor, Andreessen Horowitz) and as of tonight <a href="https://www.path.com/">Path</a>, from former Facebook exec Dave Morin.</p>
<p><div id="attachment_331" class="wp-caption alignright" style="width: 160px"><img src="http://networkeffect.allthingsd.com/files/2010/11/DaveMorin-150x150.png" alt="" title="DaveMorin" width="150" height="150" class="size-thumbnail wp-image-331" /><p class="wp-caption-text">Dave Morin</p></div></p>
<p>All three companies make mobile apps (primarily on the iPhone) that allow users to take and immediately share images with friends. It seems kind of simple and mundane, but all these smart people seem to think photo-sharing is the future.</p>
<p>Morin and Path are the most convincing about there being a larger idea behind what they&#8217;re doing. San Francisco-based Path is stubbornly focused on close personal connections&#8211;a.k.a. real friends.</p>
<p>Unlike every other social site, where there&#8217;s an implicit pressure to collect as many friends and followers as you can (and at the same time increase the site&#8217;s user numbers), Path is only for the people you really know and trust.</p>
<p>In order to force and foster that kind of sharing, Morin&#8217;s team has left out many of the social Web features we&#8217;re used to. Users can do only two things on Path: Share photos and view them.</p>
<p>There are no reciprocal friend relationships, no likes or comments, no fun photo-editing filters, no publishing photos to services like Facebook and Flickr, no editing something after you post and no global user search (you have to know the email or phone number for anyone you want to add).</p>
<p>And there are additional restrictions. Users can only ever share with a maximum of 50 people (though they can follow more than 50 people, if invited). Every single post has its own privacy settings&#8211;you can share with either only the people tagged in it, or only your share list. If you get sick of someone who&#8217;s sharing with you, you can &#8220;pause&#8221; that person until further notice. Users who don&#8217;t have iPhones can view photos on the Web.</p>
<p><img src="http://networkeffect.allthingsd.com/files/2010/11/IMG_0626-200x300.jpg" alt="" title="IMG_0626" width="200" height="300" class="alignleft size-medium wp-image-330" />The most interesting feature for me is that users see which of their contacts have viewed any one photo. So on Path, you can&#8217;t lurk in peace. People know when you&#8217;ve seen their posts. This might be a little creepy, but it also could cut down on those annoying awkward conversations that sometimes happen when you&#8217;ve seen someone post about something online and then they start telling you about it in person.</p>
<p>Photos are tagged with the location where they&#8217;re taken automatically, and users can add people and tags. If someone else takes a picture at that same location, tags that have been previously used near that place recently will be at the top of the list.</p>
<p>The idea is those tags will be used to help users relive their memories stored on the service. So, for instance, someone Morin shares with could retrace his &#8220;path&#8221; of wine tasting in Napa by zooming in on a map of the pictures he posted from California wine country.</p>
<p>But the thing is, if you want to go try Path (which you&#8217;ll be able to do in the U.S. and Canada as of 9 pm PT tonight by going to <a href="http://itunes.apple.com/us/app/path/id403639508?mt=8">Apple&#8217;s App Store</a>, and in the rest of the world within a few hours), it&#8217;s going to seem rather empty at first. You&#8217;ll have to seek out friends to share with from scratch&#8211;but even worse, nobody will be sharing with you until they decide to add you.</p>
<p>Unlike just about every other social service, Path is not really viral. At all. So even though it&#8217;s interesting, its numbers are highly unlikely to correspond favorably to those of competitors like Instagram. And after all, how many mobile photo-sharing apps are you really going to use?</p>
<p>&#8220;We really prioritize slow organic growth over hyper-viral growth and going after influencers to build this really steep graph,&#8221; said Morin, who formerly helped lead Facebook Platform and Facebook Connect before leaving the company in January. &#8220;We are building Path to be a 30-year brand.&#8221;</p>
<p>He added, &#8220;Many of the photo-sharing apps are photo-blogging apps and popularity contests. On Path, you should always feel comfortable being yourself.&#8221;</p>
<p>This antiviral stuff almost seems like overkill, but Morin grounds Path&#8217;s feature decisions in the theories of the evolutionary anthropologist Robin Dunbar (known for the oft-cited &#8220;Dunbar&#8217;s Number&#8221; of 150 acquaintances, he also proposes that 40-60 people is the outer bound of our personal networks) and Nobel prize-winning psychologist Daniel Kahneman (who talked about the difference between experience and memory in a <a href="http://www.ted.com/talks/daniel_kahneman_the_riddle_of_experience_vs_memory.html">well-received TED Talk</a> on happiness).</p>
<p>If this hyper-personal stuff works, I think Path could potentially create a third major category of social network, distinct from the kind of relationships found on the two current giants, Facebook and Twitter. But let&#8217;s not get too far ahead of ourselves&#8211;and c&#8217;mon Dave, you should really let people comment on and like their friends&#8217; photos.</p>
<p>Path was co-founded by Morin, Shawn Fanning and Dustin Mierau, both formerly of Napster. The staff also includes Mallory Paine, who helped engineer the iPhone photo and camera apps for Apple, and Matt Van Horn, who formerly did business development at Digg. Fanning is chairman and landlord of the company but is working on his own other projects day-to-day.</p>
<p>Path has already raised a jumbo seed round with Index Ventures, First Round Capital, Founders Fund and Betaworks. The company also provided us with an extensive list of individual angel investors: Ron Conway, Kevin Rose, Ashton Kutcher, Keith Rabois, Dustin Moskovitz, Marc Benioff, Gary Vaynerchuk, Steve Anderson, Tim Draper, Joi Ito, Fadi Ghandour, Matt Cohler, Sam Lessin, Bill Randuchel, Karl Jacob, Paul Buchheit, Ruchi Sanghvi, John Couch, Michael Parekh, Claudio Chiuchiarelli, Maurice Werdegar, Don Dodge, and Chris Kelly.</p>
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		<title>AllThingsD: All Things (Re-)Designed!</title>
		<link>http://allthingsd.com/20080512/allthingsd-all-things-re-designed/</link>
		<comments>http://allthingsd.com/20080512/allthingsd-all-things-re-designed/#comments</comments>
		<pubDate>Mon, 12 May 2008 14:00:17 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Adam Tow]]></category>
		<category><![CDATA[AllThingsD]]></category>
		<category><![CDATA[Barrons]]></category>
		<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Digg]]></category>
		<category><![CDATA[Digital Daily]]></category>
		<category><![CDATA[Dow Jones]]></category>
		<category><![CDATA[GigaOM]]></category>
		<category><![CDATA[John Paczkowski]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[Mailbox]]></category>
		<category><![CDATA[MarketWatch]]></category>
		<category><![CDATA[Mike Monteiro]]></category>
		<category><![CDATA[Mule Design Studio]]></category>
		<category><![CDATA[paidContent]]></category>
		<category><![CDATA[Personal Technology]]></category>
		<category><![CDATA[redesign]]></category>
		<category><![CDATA[Slide]]></category>
		<category><![CDATA[TechMeme]]></category>
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		<guid isPermaLink="false">http://kara.allthingsd.com/20080512/allthingsd-all-things-re-designed/</guid>
		<description><![CDATA[Today, we debut our new redesign of the home screen of AllThingsD.com.

It is, in fact, our second redesign since we launched the site in late April of 2007, although it is a much more drastic redesign, with a lot more elements added.

Why did we do it? No, we are not hyperactive (OK, we are, but we are taking medication for that).]]></description>
			<content:encoded><![CDATA[<p><img src='http://voices.allthingsd.com/files/2008/03/skybox-video.jpg' alt='dsymbol' /></p>
<p>Today, we debut our new redesign of the home screen of <a href="http://allthingsd.com">AllThingsD.com</a>.</p>
<p>It is, in fact, our <em>second</em> redesign since we launched the site in late April of 2007, although it is a much more drastic redesign, with a lot more elements added.</p>
<p>Why did we do it? No, we are not hyperactive (OK, we <em>are</em>, but we are taking medication for that).</p>
<p>Actually, it is because we in the ATD brain trust (that would be Walt Mossberg and me), along with our many much-more-intelligent staffers and advisers, wanted to bring even more digital news and analysis to our readers by making more stories available on the front page from us and also from around the Web.</p>
<p>Our aim was simple: Now newsier than ever!</p>
<p>In fact, we hope you will find our new look linktastic, as we try hard to embrace the notion that ATD&#8217;s audience wants to be able to find great tech and media stories anywhere and everywhere.</p>
<p>Just fyi, the inside sections remain exactly the same&#8211;it is only the front page that has undergone the renovation.</p>
<p>Here&#8217;s a quick tour, from the top to the bottom of the page:</p>
<p><strong>Megablog:</strong> We combined the <a href="http://kara.allthingsd.com">BoomTown</a> and <a href="http://digitaldaily.allthingsd.com">John Paczkowski&#8217;s Digital Daily</a> blogs in one rolling one in the center rail.</p>
<p>We felt that it allowed us to feature a lot more of our stories on the main page longer, up to 20 typically, and also made it easier for readers to find stories before they dropped off the front.</p>
<p>We will be adding more material to this section soon, as we develop our content further.</p>
<p><a href="http://walt.allthingsd.com"><strong>Walt Mossberg:</strong></a> Walt&#8217;s weekly <a href="http://ptech.allthingsd.com">Personal Technology</a> and <a href="http://mailbox.allthingsd.com">Mailbox</a> columns and <a href="http://mossblog.allthingsd.com">Mossblog</a>, as well as <a href="http://solution.allthingsd.com">Katherine Boehret&#8217;s Mossberg Solution</a>, move up and to the right in a high-profile spot.</p>
<p>As ever, Walt is the site&#8217;s amazing anchor and a tech consumer&#8217;s greatest adviser, telling it like it is and writing reviews that matter.</p>
<p><strong>Tech Headlines:</strong> On the top left, we wanted to bring in the stellar work from our Dow Jones brethren at The Wall Street Journal, Barron&#8217;s and MarketWatch, as well as from the Dow Jones newswires, to give readers links to as many stories as we can as news breaks.</p>
<p>This section will be updated every nine minutes to keep it fresh and new.</p>
<p><a href="http://voices.allthingsd.com"><strong>Voices:</strong></a> This section on the left remains the same, except it goes vertical. We try to hand-select (no stinkin&#8217; algorithm for us) from across the digital blogosphere, so we can feature blog posts we think you need to see to keep up.</p>
<p>Also, expect more guest bloggers who write original posts just for ATD, like one tomorrow from Slide&#8217;s Keith Rabois, giving BoomTown a hard time for our problem with juvenile widgets.</p>
<p><strong>The Tech Top 10:</strong> Also on the left, just below Voices, we keep our edited Tech Top 10, a list of the stories we think you need to know about every day.</p>
<p><strong>Video:</strong> On the right is our featured video. We do a lot of video at ATD and we will feature our latest-posted here.</p>
<p><strong>Tech Around the Web:</strong> Also on the right, we are posting, via RSS, the feed from four digital news sources we like and think are useful for our audience.</p>
<p>Two are editorially driven sites, <a href="http://www.paidcontent.org">paidContent</a> and <a href="http://www.gigaom.com">GigaOm</a>, who we believe are combining the energy of the blogosphere and also providing readers with trusted reporting that also adheres to the standards of accuracy and ethics we try to operate under too.</p>
<p>This is a big focus for us at ATD and we want to point readers to high-quality material. They say you are judged by the company you keep and we could not agree more.</p>
<p>Both <a href="http://www.digg.com">Digg</a> and <a href="http://www.techmeme.com">Techmeme</a>, of course, are the key news aggregators of the sector and we like how helpful they are in surfacing important tech and media stories for readers.</p>
<p>Just click on each tab to get to each section. This section will also be constantly refreshed throughout the day.</p>
<p><strong>More ads:</strong> Well, we have to pay the bills, don&#8217;t we? We hope you do find them useful and don&#8217;t find them too intrusive.</p>
<p>There will be even more to come from us in the coming weeks, especially as we gear up for the sixth edition of the <a href="http://allthingsd.com/d"><strong>D: All Things Digital</strong></a> conference, which is taking place May 27 to 29.</p>
<p>So, please let us know what you think of our new look, as we would love feedback.</p>
<p>And special thanks to all who worked on the redesign, including Mike Monteiro of <a href="http://www.muledesign.com">Mule Design Studio</a> and especially the tireless and multi-talented <a href="http://allthingsd.com/about/adam-tow">Adam Tow</a>, our Web genius.</p>
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		<title>The Children&#039;s Crusade Strikes Back at Not-a-Teenager (aka Really Old Lady) BoomTown</title>
		<link>http://allthingsd.com/20071019/the-childrens-crusade-strikes-back-at-not-a-teenager-aka-really-old-lady-boomtown/</link>
		<comments>http://allthingsd.com/20071019/the-childrens-crusade-strikes-back-at-not-a-teenager-aka-really-old-lady-boomtown/#comments</comments>
		<pubDate>Fri, 19 Oct 2007 10:46:57 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Ali Partovi]]></category>
		<category><![CDATA[app]]></category>
		<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Dave McClure]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[iLike]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Keith Rabois]]></category>
		<category><![CDATA[Lance Tokuda]]></category>
		<category><![CDATA[Mark Zuckerberg]]></category>
		<category><![CDATA[RockYou]]></category>
		<category><![CDATA[Seth Goldstein]]></category>
		<category><![CDATA[Slide]]></category>
		<category><![CDATA[social media]]></category>
		<category><![CDATA[Web 2.0 Summit]]></category>
		<category><![CDATA[widget]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20071019/the-childrens-crusade-strikes-back-at-not-a-teenager-aka-really-old-lady-boomtown/</guid>
		<description><![CDATA[The ankle-biters have spoken and it seems that I am completely wrong in my estimation in several recent posts where I wrote that Facebook widgets are&#8211;how shall we put it delicately?&#8211;exceedingly inane. Why? Apparently because inane is the goal! Well then, I guess: Mission accomplished! At an appearance at the Web 2.0 Summit yesterday, a [...]]]></description>
			<content:encoded><![CDATA[<p>The ankle-biters have spoken and it seems that I am completely wrong in my estimation in several recent posts where I wrote that Facebook widgets are&#8211;how shall we put it delicately?&#8211;<a href="http://kara.allthingsd.com/20071009/the-childrens-hour-facebook-apps-are-for-toddlers-there-we-said-it/">exceedingly inane</a>.</p>
<p>Why? Apparently because inane is the goal! Well then, I guess: Mission accomplished!</p>
<p><img src='http://kara.allthingsd.com/files/2007/10/toys.jpg' alt='toybox' /></p>
<p>At an appearance at the <a href="http://www.web2summit.com/">Web 2.0 Summit</a> yesterday, a group on a panel called &#8220;Facebook as a Platform,&#8221; led by Dave McClure, talked about a lot of stuff.</p>
<p>But it seemed to get lively when the <a href="http://digitaldaily.allthingsd.com/20071018/web-20-summit-panel-on-facebook-as-a-platform/">discussion turned to my comparison of the boom in third party apps on Facebook to the arrival in my home of a box of shiny plastic toys from China</a>.</p>
<p>I was at home with my own actual 2-year-old playing a rousing game of hit-mama-with-the-foam-finger- and-crack-up-hysterically, when the group&#8211;which included Seth Goldstein of SocialMedia, Ali Partovi of iLike, Keith Rabois of Slide and Lance Tokuda of RockYou&#8211;declared me humorless.</p>
<p>All because I did not realize that these apps were meant to be silly and more fun than a barrel of monkeys.</p>
<p>Actually, I did know that and, by the way, monkeys are much more fun.</p>
<p>Here was my initial argument:</p>
<blockquote><p>But, so far, as popular as those apps have become, what [Facebook founder Mark] Zuckerberg and the widget-makers have wrought is mostly silly, useless and time-wasting and the kazillion users of these widgets are pretty much just acting like little children.</p>
<p>&#8220;I never thought I would call the often frivolous AOL back in the day&#8211;very simply, a Neanderthal version of Facebook&#8211;a mature offering in comparison.</p>
<p>&#8220;While I will admit when I am not chewing nails that a lot of these apps are somewhat fun, I can&#8217;t help but ask myself that lyric from the old Peggy Lee classic: &#8216;Is that all there is?&#8217;</p>
<p>&#8220;And if that is all there is, can Facebook really build a viable and long-lasting business on what is essentially a bunch of games that will ultimately become wearying for users? Doesn&#8217;t it need more robust apps that actually are useful and relevant and make Facebook the service that Zuckerberg has often told me was a &#8216;utility&#8217;?</p>
<p>&#8220;While Facebook&#8211;with a cleaner and more strict look and a better navigation&#8211;is surely less goofy than rival MySpace for anyone over 12 years old, and its video, photo and email features are nice, the vast majority of its apps are still mostly as dumb as a box of hammers.&#8221;</p></blockquote>
<p>&#8220;Kara&#8217;s argument is ridiculous,&#8221; said Slide&#8217;s Rabois, <a href="http://blog.wired.com/monkeybites/2007/10/facebooks-widge.html">according to a report on Wired.com</a>.</p>
<p>&#8220;Why do people watch movies and TV? Because they&#8217;re bored or looking for something to do to relieve stress in their lives. Apps are providing entertainment to users.&#8221;</p>
<p><img src='http://kara.allthingsd.com/files/2007/10/061018_gilligansisland_hmed_12phmedium.jpg' width='250' height='250' alt='gilligan' class='alignleft'/></p>
<p>Really, Keith? I had no idea, despite the fact that &#8220;Gilligan&#8217;s Island&#8221; was my favorite show for way too many years!</p>
<p>Seriously, I know what he is saying and I agree on the need for some fun on this tragic little spinning globe of ours, except:</p>
<p>1. I would be fine with silly widgets, if there were more serious ones too, well beyond Vampires and SuperPokes and even an app called Pop Ur Zit. All of these have the longevity of a gnat, designed to be faddish and quickly forgotten. And, if you are going to be fun, one might try a little harder to come up with some offerings that are a little less disposable.</p>
<p>In fact, on a recent visit I made to RockYou HQ (post coming Monday), its savvy tech lead noted that there was surely a limit to how much crap people wanted to throw at each other.</p>
<p>2. Entertainment, especially the idiotic kind, will not get you to massive sustained usage that characterizes a true paradigm shift that McClure claimed was happening.</p>
<p>For example, was it all the games that made the personal computer become a ubiquitous device? No, it was serious programs like VisiCalc and Lotus 1-2-3.</p>
<p>So where are those kind of apps for systems like Facebook, I wonder, as I noted in <a href="http://kara.allthingsd.com/20071010/the-childrens-hour-part-2-can-facebook-apps-grow-up/">another post about what to do</a> with a group of 2,500 techies I have gathered on the social-networking site. So far, we have a whole lot of nothing to offer them.</p>
<p>3. Another argument made on the panel was that the blogosphere used to be disdained as goofy only a few years ago and now it is a true media power.</p>
<p>Well, it was never disdained by me and, actually, there were a lot of substantive and important blogs even back then to balance out the fluffier ones. In fact, there were more.</p>
<p>4. As RockYou&#8217;s Tokuda said, referring to me: &#8220;I believe for her the apps are useless because she&#8217;s not a teenage girl.&#8221;</p>
<p><img src='http://kara.allthingsd.com/files/2007/10/fp8818hannah-montana-posters.jpg' alt='hannah' /></p>
<p>This is not a news flash, although I probably am one of the older diehard fans of &#8220;Hannah Montana.&#8221;</p>
<p>But it is not necessarily true that advertisers will flock to these widgets, just because the kids love it.</p>
<p>Because as much as advertisers want to reach a younger demographic, they also do not want to do it in an environment of frivolous engagement and I doubt there is much appeal to them when people are busy slapping each other digitally or cartoonifying their friends. In addition, advertisers want to reach people who will buy things and few are in that mindset when they are anonymously telling someone else the &#8220;honest&#8221; truth or being a Human Pet.</p>
<p>I could go on, but will stop there, so the Lollipop Guild can respond in crayon.</p>
<p>But here&#8217;s one offer I will take RockYou&#8217;s Tokuda up on: A promise he made onstage to build something just for me.</p>
<p>Just some guidance, Lance: No poking, slapping, tickling or zit-picking.</p>
<p>Call me old-fashioned, because I know you will anyway.</p>
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