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	<title>AllThingsD &#187; Silicon Valley Bank</title>
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		  <title>All Things Digital</title>
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		<title>Ribbit Capital Raises $100 Million With the Goal of Modernizing Money</title>
		<link>http://allthingsd.com/20130122/ribbit-capital-raises-100-million-with-the-goal-of-modernizing-money/</link>
		<comments>http://allthingsd.com/20130122/ribbit-capital-raises-100-million-with-the-goal-of-modernizing-money/#comments</comments>
		<pubDate>Tue, 22 Jan 2013 21:06:03 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[General]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[Bling Nation]]></category>
		<category><![CDATA[Borro]]></category>
		<category><![CDATA[Capital Access Networks]]></category>
		<category><![CDATA[ContaAzul]]></category>
		<category><![CDATA[financial services industry]]></category>
		<category><![CDATA[fund]]></category>
		<category><![CDATA[Fuze Network]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[Lemon]]></category>
		<category><![CDATA[Meyer Malka]]></category>
		<category><![CDATA[Micky Malka]]></category>
		<category><![CDATA[mobile payments]]></category>
		<category><![CDATA[mobile wallet]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[Ribbit Capital]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[Square]]></category>
		<category><![CDATA[tax preparation]]></category>
		<category><![CDATA[VC]]></category>
		<category><![CDATA[Wonga]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=287456</guid>
		<description><![CDATA[Ribbit Capital's motto is, "It takes money to change money."]]></description>
				<content:encoded><![CDATA[<p><a href="http://ribbitcap.com/">Ribbit Capital</a> is a new Silicon Valley fund focused on making investments in anything to do with money &#8212; from lending to tax preparation to mobile payments.</p>
<p><img class="alignright size-full wp-image-268659" alt="monopoly_money_bag_380" src="http://allthingsd.com/files/2012/11/monopoly_money_bag_380.png" width="380" height="285" />The Palo Alto, Calif., company is officially announcing a $100 million fund today. It will target the financial services sector, which has seen a flood of startups over the past couple of years as companies try to create new ways for customers to pay using online and mobile services.</p>
<p>Several companies have sprouted up to challenge incumbent providers, such as Square, but many other large institutions, like PayPal and Google, are also interested in making transactions digital.</p>
<p>Ribbit is critical of the amount of innovation that has occurred to date. Fittingly, Ribbit&#8217;s motto is, &#8220;It takes money to change money.&#8221;</p>
<p>Today&#8217;s announcement by Ribbit is its formal launch, but since getting off the ground last year, it has made four early-stage investments. They are:</p>
<ul>
<li><strong>Borro</strong>: The U.K.-based startup provides financing to high-net-worth individuals who want cash for their fine arts, antiques, vintage cars and jewelry.</li>
<li><strong>Fuze Network</strong>: A U.S.-based payments company that provides merchants with new ways for their customers to make payments at banks and retail locations nationwide.</li>
<li><strong>ContaAzul</strong>: The company provides accounting and invoicing solutions to small and medium-sized businesses in Brazil.</li>
<li><strong>Capital Access Networks</strong>: A non-bank lender to small businesses.</li>
</ul>
<p>The fund was founded by Meyer Malka, who goes by the name Micky. He has been an active entrepreneur in the space &#8212; he co-founded Lemon, a mobile wallet company, and Bling Nation, a mobile payments company &#8212; and currently serves on the board of Wonga, an alternative lender for consumers and businesses.</p>
<p>Malka has a global perspective, having lived all around the world, including stints in Venezuela and Brazil, where he witnessed more than half of the banks fail.</p>
<p>Ribbit’s investors include Spanish banking group Banco Bilbao Vizcaya Argentaria, Silicon Valley Bank, and various institutional investors and high-net-worth individuals.</p>
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		<title>Enterprise Is So Hot Right Now: Zendesk Raises $60M for Customer Service (Video)</title>
		<link>http://allthingsd.com/20120912/enterprise-is-so-hot-right-now-zendesk-raises-60m-for-customer-service/</link>
		<comments>http://allthingsd.com/20120912/enterprise-is-so-hot-right-now-zendesk-raises-60m-for-customer-service/#comments</comments>
		<pubDate>Wed, 12 Sep 2012 13:00:07 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[Enterprise]]></category>
		<category><![CDATA[General]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[customer service]]></category>
		<category><![CDATA[enterprise]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[Mikkel Svane]]></category>
		<category><![CDATA[Redpoint Ventures]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[Zendesk]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=249948</guid>
		<description><![CDATA[Zendesk, the online customer service platform, has raised $60 million in Series D funding.]]></description>
				<content:encoded><![CDATA[<p><a href="http://www.zendesk.com/">Zendesk</a>, the online customer service platform, has raised $60 million in Series D funding.</p>
<p>The round includes a venture portion led by Redpoint Ventures, and $15 million in debt financing from Silicon Valley Bank.</p>
<p><div id="attachment_249969" class="wp-caption alignright" style="width: 390px"><a href="http://allthingsd.com/files/2012/09/MikkelSvane.png"><img class="size-medium wp-image-249969" title="MikkelSvane" src="http://allthingsd.com/files/2012/09/MikkelSvane-380x285.png" alt="" width="380" height="285" /></a><p class="wp-caption-text">Zendesk CEO Mikkel Svane</p></div></p>
<p>Alongside the funding, Zendesk is launching a complete rewrite of its service, as well as a new app platform.</p>
<p>Given its familiarity with customer service pitfalls, Zendesk is trying to avoid alienating users who don&#8217;t like the change. The company promises to keep its old version running indefinitely and give users the option to switch back and forth, said CEO Mikkel Svane in an interview Tuesday.</p>
<p>Some 20,000 companies use Zendesk for customer service, and the company plans to apply at least part of its new funding to expanding around the world.</p>
<p>Svane mentioned that it took him less than a week to land those tens of millions in funding. Other investors included Index Ventures, GGV Capital, Goldman Sachs, Charles River Ventures, Benchmark Capital and Matrix Partners.</p>
<p>Why were investors so raring to go? Svane said they had heard about Zendesk increasing its monthly recurring revenue by 500 percent since its last funding round, in November 2010.</p>
<p>Also, this notion of &#8220;enterprise 2.0&#8243; is pretty hot right now. Where people used to love talking about &#8220;the consumerization of enterprise&#8221; because consumer was sexy, now the emphasis seems to be more on the enterprise part.</p>
<p>I asked Svane whether he thought investors were flocking to enterprise because they liked the sound of paying customers, after all the problems ad-supported consumer tech businesses have been having as they try to enter the public markets.</p>
<p>Svane laughed it off and said that was just a storyline reporters like to tell. (I told him I&#8217;d bet that if he were Aaron Levie from Box, he would have said &#8220;Absolutely,&#8221; and run with it &#8212; and probably gotten some IPO innuendo in there, while he was at it.)</p>
<p>But no, Svane is a straight shooter, and an incredibly amiable one. See more in our video interview:</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=257162E2-710C-41FB-AD3F-EC05AF65209D&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={257162E2-710C-41FB-AD3F-EC05AF65209D}&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>Now Old Media Wants in on Facebook Marketing, Too: Conde Nast Parent Advance Invests Takes a Flier on Unified</title>
		<link>http://allthingsd.com/20120607/now-old-media-wants-in-on-facebook-marketing-too-conde-nast-parent-advance-invests-takes-a-flier-on-unified/</link>
		<comments>http://allthingsd.com/20120607/now-old-media-wants-in-on-facebook-marketing-too-conde-nast-parent-advance-invests-takes-a-flier-on-unified/#comments</comments>
		<pubDate>Thu, 07 Jun 2012 11:30:15 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Enterprise]]></category>
		<category><![CDATA[Media]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[Condé Nast]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[LinkedIn]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[Twitter]]></category>
		<category><![CDATA[YouTube]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=217715</guid>
		<description><![CDATA[The enterprise guys are spending big money to buy social marketing companies. Here's a much more modest bet from a traditional ad player.]]></description>
				<content:encoded><![CDATA[<p><a href="http://allthingsd.com/files/2011/09/a-big-fat-wad-of-money.png"><img class="alignright size-medium wp-image-118416" title="a-big-fat-wad-of-money" src="http://allthingsd.com/files/2011/09/a-big-fat-wad-of-money-380x253.png" alt="" width="380" height="253" /></a>And here&#8217;s even more money for Facebook marketing: <a href="http://www.unifiedsocial.com/">Unified</a>, a year-old start-up that helps companies buy and manage social ad campaigns, has raised $14 million.</p>
<p>What&#8217;s particularly interesting here is the company that accounted for $10 million of the round &#8212; Conde Nast&#8217;s parent company, Advance Publications.</p>
<p>The money for the deal comes from a <a href="http://allthingsd.com/20101213/conde-nast-gets-ready-to-go-shopping-adds-500-million-and-an-ex-yahoo/">$500 million fund Advance set up a couple years ago</a>, which is managed by former Yahoo M&amp;A executive Andrew Siegel. Siegel will take a seat on Unified&#8217;s board.</p>
<p>The rest of the round comes via a debt deal with Silicon Valley Bank. The start-up had previously raised about $1.5 million in an angel round.</p>
<p>Unified will function as a media-buying service for advertisers, if that&#8217;s what their clients want. But the company is trying to emphasize its analytics/dashboard services, which is supposed to help advertisers figure out how their ad buys are performing across multiple platforms.</p>
<p>Like other social marketing start-ups, the bulk of its business comes from Facebook, but it will also work with Twitter, LinkedIn, YouTube, etc.</p>
<p>Here&#8217;s an explainer/teaser video featuring a woman with a Madonna-like British accent:</p>
<p><iframe src="http://player.vimeo.com/video/35172489?title=0&amp;byline=0&amp;portrait=0" frameborder="0" width="400" height="300"></iframe></p>
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		<title>SugarCRM Raises $33 Million in Round Led by NEA</title>
		<link>http://allthingsd.com/20120404/sugarcrm-raises-33-million-in-round-led-by-nea/</link>
		<comments>http://allthingsd.com/20120404/sugarcrm-raises-33-million-in-round-led-by-nea/#comments</comments>
		<pubDate>Wed, 04 Apr 2012 13:30:21 +0000</pubDate>
		<dc:creator>Arik Hesseldahl</dc:creator>
				<category><![CDATA[Enterprise]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Brooke Seawell]]></category>
		<category><![CDATA[cloud computing]]></category>
		<category><![CDATA[CRM]]></category>
		<category><![CDATA[customer relationship management]]></category>
		<category><![CDATA[Draper Fisher Fisher Jurvetson]]></category>
		<category><![CDATA[enterprise software]]></category>
		<category><![CDATA[Gold Hill Capital]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[NetSuite]]></category>
		<category><![CDATA[New Enterprise Associates]]></category>
		<category><![CDATA[Oracle]]></category>
		<category><![CDATA[Salesforce.com]]></category>
		<category><![CDATA[SAP]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[SugarCRM]]></category>
		<category><![CDATA[Walden International]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=192977</guid>
		<description><![CDATA[The company that positions itself as an alternative to Salesforce.com saw its sales grow by 67 percent last year.]]></description>
				<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20120404/sugarcrm-raises-33-million-in-round-led-by-nea/sugarcrm_logo/" rel="attachment wp-att-193000"><img src="http://allthingsd.com/files/2012/04/sugarcrm_logo.png" alt="" title="sugarcrm_logo" width="307" height="84" class="alignright size-full wp-image-193000" /></a>Usually when there&#8217;s any discussion around customer relationship management software, it inevitably turns to Salesforce.com, which built its reputation and a $22 billion market capitalization around a cloud-based system for keeping track of sales contacts and customers. It also positioned itself as an alternative to Oracle and SAP, which also do CRM. Other players are Microsoft and NetSuite, which offers CRM as part of its larger enterprise resource-planning suite.</p>
<p>But there&#8217;s another alternative, called SugarCRM, that has been gaining traction, and which positions itself as an alternative to Salesforce. It&#8217;s open source, runs both in the cloud and on-premise, and it has a million end users at 7,000 companies in 192 countries.</p>
<p>Today, SugarCRM announced that it had raised $33 million in equity and debt financing. New Enterprise Associates led the round, and Brooke Seawell, an NEA partner, joined Sugar&#8217;s board. Silicon Valley Bank and Gold Hill Capital joined as new investors, while prior investors Draper Fisher Jurvetson and Walden International also participated. </p>
<p>The company saw sales increase by 67 percent last year and added 2,700 new customer companies, making SugarCRM, by its count, the third-most popular CRM product in the world.</p>
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		<title>Median Angel Round Was $700K in 2011, Up From $500K in 2010</title>
		<link>http://allthingsd.com/20120308/median-angel-round-was-700k-in-2011-up-from-500k-in-2010/</link>
		<comments>http://allthingsd.com/20120308/median-angel-round-was-700k-in-2011-up-from-500k-in-2010/#comments</comments>
		<pubDate>Thu, 08 Mar 2012 17:30:09 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[General]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[angel investing]]></category>
		<category><![CDATA[Angel Resource Institute]]></category>
		<category><![CDATA[CB Insights]]></category>
		<category><![CDATA[early stage funding]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[Halo Report]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[start-ups]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=181663</guid>
		<description><![CDATA[The early-stage funding frenzy seems to be a real phenomenon, with the numbers to prove it. The median angel round for American start-ups grew 40 percent last year, to $700,000 from $500,000.]]></description>
				<content:encoded><![CDATA[<p>The so-called <a href="http://allthingsd.com/20111115/sean-parker-and-jim-breyer-slam-silicon-valley-angel-investing/">early-stage funding frenzy</a> seems to be a real phenomenon, with the numbers to prove it. The median angel round for American start-ups grew 40 percent last year, to $700,000 from $500,000.</p>
<p>In the same period, the <em>mean</em> angel round was $1.11 million, up from $840,000 the year before.</p>
<p>The same figures are more than twice as big when you count angel rounds that also included non-angel investors.</p>
<p>All these assessments come from analysis of 573 deals in 2011, worth a total of $873.3 million dollars, as compiled in the first &#8220;<a href="http://www.cbinsights.com/blog/angel-investment/angel-investment-data-2011-halo-report">Halo Report</a>,&#8221; a joint project of the Angel Resource Institute, Silicon Valley Bank and CB Insights.</p>
<p><a href="http://allthingsd.com/files/2012/03/HaloReport.png"><img class="aligncenter size-Hero wp-image-181665" title="HaloReport" src="http://allthingsd.com/files/2012/03/HaloReport-640x474.png" alt="" width="640" height="474" /></a></p>
<p>One important caveat, so as not to overstate the report&#8217;s findings: Median angel funding for Internet and healthcare companies, which are the two largest categories, was relatively steady year over year; the big growth came from other categories, which included mobile, software and energy.</p>
<p>It&#8217;s possible that part of the lift came from a move by top accelerator programs to give participating start-ups on the order of $100,000 in addition to their normal stipend, following the example set by Yuri Milner&#8217;s Start Fund and Y Combinator. However, the companies in those programs are mainly Internet start-ups.</p>
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		<title>TrueCar Fuels Up With $200 Million in Funding and Two Acquisitions</title>
		<link>http://allthingsd.com/20110907/truecar-fuels-up-with-200-million-in-funding-and-two-acquisitions/</link>
		<comments>http://allthingsd.com/20110907/truecar-fuels-up-with-200-million-in-funding-and-two-acquisitions/#comments</comments>
		<pubDate>Wed, 07 Sep 2011 19:39:12 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[acquisitions]]></category>
		<category><![CDATA[Allen & Company]]></category>
		<category><![CDATA[Automotive Lease Guide]]></category>
		<category><![CDATA[Capricorn Investment]]></category>
		<category><![CDATA[Carperks]]></category>
		<category><![CDATA[DealerTrack]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[Groupon]]></category>
		<category><![CDATA[GRP Partners]]></category>
		<category><![CDATA[GSV Capital]]></category>
		<category><![CDATA[Kelley Blue Book]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[McCombs Family Partners]]></category>
		<category><![CDATA[Passport Capital]]></category>
		<category><![CDATA[Silicon Valley Bank]]></category>
		<category><![CDATA[TrueCar]]></category>
		<category><![CDATA[USAA]]></category>
		<category><![CDATA[VC]]></category>
		<category><![CDATA[venture capital]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=118099</guid>
		<description><![CDATA[TrueCar, a Kelley Blue Book competitor that also sells cars online, has raised $200 million in debt and equity following the announcement of two major acquisitions.]]></description>
				<content:encoded><![CDATA[<p>Santa Monica, Calif.- based <a href="http://www.truecar.com/">TrueCar</a>, a Kelley Blue Book competitor that also sells cars online, has raised $200 million in debt and equity following the announcement of two major acquisitions.</p>
<p><img class="alignright size-full wp-image-118109" title="truecar_logo" src="http://allthingsd.com/files/2011/09/truecar_logo.png" alt="" width="261" height="101" />Participants in the financing include a mix of strategic and financial investors, such as USAA, Capricorn Investment Group and GRP Partners, McCombs Family Partners and DealerTrack Holdings, GSV Capital, Passport Capital, International Investment House and Allen &amp; Company. Debt capital was provided by Silicon Valley Bank.</p>
<p><img class="alignleft size-medium wp-image-118114" title="gaspump_futureatlascom" src="http://allthingsd.com/files/2011/09/gaspump_futureatlascom-380x285.png" alt="" width="380" height="285" />The financing comes on the heels of two recent acquisitions made by TrueCar: Automotive Lease Guide (ALG), which tracks car values, and Carperks, which is a group-buying site that offers discounts on cars through programs offered to employees of major companies, like Coca Cola, Wells Fargo and Home Depot.</p>
<p>Terms of the acquisitions were not disclosed.</p>
<p>In August, the company said it sold 20,000 vehicles, bringing the total number sold since inception to more than 350,000. It estimates that it saves consumers an average of $4,154 off of a car&#8217;s suggested retail price.</p>
<p><a href="http://www.reuters.com/article/2011/09/07/trucar-idUSN1E7851SA20110907">Reuters reports</a> that the company is gearing up for an IPO in the first half of next year, and executives likened the company to the &#8220;Groupon for cars,&#8221; by offering group discounts and feeding off consumers&#8217; desires to find the best deal possible using the Internet.</p>
<p><em>Photo Credit: <a href="http://www.flickr.com/photos/87913776@N00/460375914/sizes/z/in/photostream/">futureatlas.com</a>.</em></p>
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		<title>iPhone Video App Collabracam Makes a Case for Co-Creation</title>
		<link>http://allthingsd.com/20110616/iphone-video-app-collabracam-makes-a-case-for-co-creation/</link>
		<comments>http://allthingsd.com/20110616/iphone-video-app-collabracam-makes-a-case-for-co-creation/#comments</comments>
		<pubDate>Fri, 17 Jun 2011 03:38:34 +0000</pubDate>
		<dc:creator>Drake Martinet</dc:creator>
				<category><![CDATA[Media]]></category>
		<category><![CDATA[Mobile]]></category>
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		<category><![CDATA[Collabracam]]></category>
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		<category><![CDATA[Kyle Hilla]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=87708</guid>
		<description><![CDATA[The only thing newly social about media right now is the ability to share it instantly.

Now, the iPhone app Collabracam allows a team of users to collaborate on creating live video the way TV studios do it. Will it be opening the door to a new kind of really social media?]]></description>
				<content:encoded><![CDATA[<p><img src="http://allthingsd.com/files/2011/06/Screen-shot-2011-06-16-at-5.08.22-PM-380x216.png" alt="" title="Screen shot 2011-06-16 at 5.08.22 PM" width="380" height="216" class="alignright size-medium wp-image-87758" /></p>
<p>If social media today means sharing, what is media co-creation? </p>
<p><em>Really</em> social media?</p>
<p>That&#8217;s the premise behind Collabracam, an app for Apple iOS that is attempting to offer a new way to create video collaboratively, in real time by using the iPhone as both the directing and recording platform.  </p>
<p>To understand how Collabracam works, it&#8217;s useful to think of the traditional television production experience the app tries to recreate. </p>
<p>In a TV studio, a director stares at a bank of screens in one room, while talking through headsets to multiple camera operators in the studio. The director then gives orders to the camera operators, such as &#8220;pan right&#8221; or &#8220;zoom in,&#8221; and finally cuts between the various cameras. </p>
<p>Similarly, using Collabracam, up to five people sharing a WiFi connection can use their iPhones to become director and camera-persons for an instant video studio.  </p>
<p>One iPhone in the group is designated &#8220;director&#8221; and the others are &#8220;cameras.&#8221; The cameras stream live video to the director, who makes the  decisions about camera switching and shot selection.</p>
<p>The app then spits out a single movie file on the director&#8217;s iPhone with the cuts that were selected during filming.</p>
<p>The idea man behind Collabracam is Kyle Hilla, a designer based in Grand Rapids, Michigan. He&#8217;s the sole employee of Apptopus Inc., the company that officially makes the app.  </p>
<p><img src="http://allthingsd.com/files/2011/06/Screen-shot-2011-06-16-at-3.59.21-PM-380x213.png" alt="" title="Screen shot 2011-06-16 at 3.59.21 PM" width="380" height="213" class="alignleft size-medium wp-image-87757" /></p>
<p>The inspiration for the app came from Hilla&#8217;s previous work at a community TV station.</p>
<p>&#8220;I was hauling around hundreds of feet of big, heavy cables,&#8221; he said. &#8220;I knew there had to be a better way.&#8221;</p>
<p>This kind of synchronous, multi-camera collaboration isn&#8217;t yet common in the app store. </p>
<p>But Hilla sees more on the horizon: &#8220;Bringing people together for social media creation is going to be the next big thing.&#8221; </p>
<p>And Hilla isn&#8217;t alone in his thinking.   </p>
<p>Venture firms Sequoia Capital, Bain Capital and Silicon Valley Bank funded beleaguered app maker Color to the tune of $41 million, in an attempt to tackle similar questions.</p>
<p>And while Color has spent the last few months stabbing in the dark spaces of multi-user media and storytelling as well, Hilla explained that Collabracam is designed to be different.</p>
<p>&#8220;Collabracam is for deliberate creation &#8212; it&#8217;s not passive,&#8221; he said. </p>
<p>The team aspect of Collabracam&#8217;s user experience may hold part of the key to cracking the group-media creation nut. </p>
<p>But Collabracam has its barriers to adoption. </p>
<p>The app is useless without a group of users, of course. And users have to be able to think about recording video in parts and they have to work as a team.</p>
<p>Still, Hilla said some interesting use cases have popped up, giving some Brazilian videographers who used it as a pre-production tool to make a video storyboard before moving on to making the real thing with HD cameras as a good example.</p>
<p>That&#8217;s an outlying consumer audience, of course, but Hilla thinks it&#8217;s a good start &#8212; he chatted about this and more via Skype video from Michigan:</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=970F4454-7B91-4400-8251-E743FD98F03D&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={970F4454-7B91-4400-8251-E743FD98F03D}&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>Video: With $41M in Hand, Color Offers New Proximity-Based Social Network</title>
		<link>http://allthingsd.com/20110323/with-41m-in-hand-color-deploys-new-proximity-based-social-network/</link>
		<comments>http://allthingsd.com/20110323/with-41m-in-hand-color-deploys-new-proximity-based-social-network/#comments</comments>
		<pubDate>Thu, 24 Mar 2011 00:00:17 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
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		<category><![CDATA[Bill Nguyen]]></category>
		<category><![CDATA[color]]></category>
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		<category><![CDATA[Lala]]></category>
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		<category><![CDATA[Peter Pham]]></category>
		<category><![CDATA[Sequoia Capital]]></category>
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		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=4692</guid>
		<description><![CDATA[Bill Nguyen, the serial entrepreneur who most recently sold Lala to Apple for around $80 million, is today launching Color, a proximity-based social network with no privacy settings.]]></description>
				<content:encoded><![CDATA[<p>I can hear the haters already: ANOTHER photo-sharing app? ANOTHER social network?</p>
<p><em>Yes.</em></p>
<p>Bill Nguyen, the serial entrepreneur who most recently <a href="http://mediamemo.allthingsd.com/20091207/lalas-fire-sale-that-wasnt-what-apple-really-paid/">sold Lala to Apple for around $80 million</a>, is today launching <a href="http://www.color.com/">Color</a>, a proximity-based social network with no privacy settings.</p>
<p><a href="http://networkeffect.allthingsd.com/files/2011/03/Colormultilens.jpg"><img class="alignright size-medium wp-image-4696" title="Colormultilens" src="http://networkeffect.allthingsd.com/files/2011/03/Colormultilens-180x300.jpg" alt="" width="180" height="300" /></a>The effulgent Nguyen has already gotten Sequoia Capital, Bain Capital and Silicon Valley Bank to buy into his next act, raising $41 million in seed and Series A rounds in the eight months since he left Apple last year.</p>
<p>Color launches today on <a href="http://itunes.apple.com/us/app/color/id427763573?mt=8&#038;ls=1">iPhone</a> and Android (BlackBerry and Windows Phone are said to be coming soon). It is primarily a photo-sharing app, though text and video are also supported.</p>
<p>Rather than friending or following each other, Color&#8217;s users simply post pictures. Then, other users open the app and see pictures that Color has determined are relevant to them.</p>
<p>Users see pictures posted recently and nearby to their current location, as well as pictures posted by other members they&#8217;ve expressed an interest in by looking at, liking or commenting on their content.</p>
<p>This concept seems fitting for events&#8211;say, a sports game or a wedding&#8211;where lots of people who don&#8217;t necessarily know each other are taking photos of the same thing.</p>
<p>Everything posted on Color is public, and Color owns the rights to all content on the service (though users can delete their own uploads.)</p>
<p>What&#8217;s different about Color is relationships are implicit rather than explicit. This tweak may well resonate with people who feel their Facebook and Twitter friend lists are random, outdated and overwhelming.</p>
<p>Color hired away LinkedIn Chief Scientist DJ Patil to lead a team that dynamically determines what pictures and users are relevant.</p>
<p>So, for instance, to augment a location signal from GPS, Color will use clues like lighting and ambient noise to understand that two photos were taken in the same place. It will also try to understand which people users are interested in, and how that changes over time&#8211;so if a user hasn&#8217;t interacted with someone&#8217;s pictures for the while, that person&#8217;s icon will appear further out and darker in the user&#8217;s list of relevant people (Color calls this the &#8220;elastic network&#8221;).</p>
<p>Color hopes that the public nature of its service combined with the personal nature of a single user&#8217;s smartphone photos will ensure that people keep it decent. Its business model is to be location-based advertising.</p>
<p>Color also counts Peter Pham, formerly of BillShrink and Photobucket, as co-founder and president. (There are seven total with the co-founder title.) Pham and Nguyen showed off the product and described the company vision and business model in a video interview at the company&#8217;s expansive downtown Palo Alto offices earlier this week, which seem mostly empty despite Color&#8217;s team of 30 employees.</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=E492511C-7C93-4F67-A1E8-14AC575CCB89&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={E492511C-7C93-4F67-A1E8-14AC575CCB89}&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>The real test, of course, will be not how many employees it can hire and how much money it can raise, but how many people actually find the product useful.</p>
<p>Will people see the value in contributing their experiences to Color&#8217;s massive repository? Will they understand how the app works, with its ample use of coinages like &#8220;bulletins&#8221; (proximity-based view), &#8220;visual diary&#8221; (chronological diary view) and &#8220;multilens&#8221; (albums of multiple people&#8217;s photos of the same thing)? We&#8217;ll have to see.</p>
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