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	<title>AllThingsD &#187; Spark Capital</title>
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	<link>http://allthingsd.com</link>
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		  <title>All Things Digital</title>
		  <link>http://allthingsd.com/</link>
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		<title>JOBS Act Could Kickstart Both Entrepreneurs and Equity Ownership</title>
		<link>http://allthingsd.com/20120509/jobs-act-could-kickstart-both-entrepreneurs-and-equity-ownership/</link>
		<comments>http://allthingsd.com/20120509/jobs-act-could-kickstart-both-entrepreneurs-and-equity-ownership/#comments</comments>
		<pubDate>Wed, 09 May 2012 21:25:07 +0000</pubDate>
		<dc:creator>Beth Callaghan</dc:creator>
				<category><![CDATA[Eye to Eye]]></category>
		<category><![CDATA[Voices]]></category>
		<category><![CDATA[500 Startups]]></category>
		<category><![CDATA[crowdfunding]]></category>
		<category><![CDATA[Dave McClure]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[JOBS Act]]></category>
		<category><![CDATA[Kickstarter]]></category>
		<category><![CDATA[Pebble watch]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Todd Dagres]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=206181</guid>
		<description><![CDATA[Considering that the new JOBS Act makes crowdfunding so much easier, what sorts of things do you see coming out of the grass roots?]]></description>
			<content:encoded><![CDATA[<p>Crowdfunding site Kickstarter turned three this week, and one of its projects &#8212; the Pebble watch &#8212; has famously raised $7 million against a $100K goal with a little over two weeks to go.</p>
<p>Considering that the new JOBS Act makes crowdfunding even easier, what sorts of things do you see coming out of the grass roots?</p>
]]></content:encoded>
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		<item>
		<title>Foursquare Co-Founder Naveen Selvadurai Leaving</title>
		<link>http://allthingsd.com/20120304/foursquare-cofounder-naveen-selvadurai-leaving/</link>
		<comments>http://allthingsd.com/20120304/foursquare-cofounder-naveen-selvadurai-leaving/#comments</comments>
		<pubDate>Sun, 04 Mar 2012 23:26:34 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[General]]></category>
		<category><![CDATA[Mobile]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Dennis Crowley]]></category>
		<category><![CDATA[departures]]></category>
		<category><![CDATA[Foursquare]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[GigaOM]]></category>
		<category><![CDATA[Industry Moves]]></category>
		<category><![CDATA[Naveen Selvadurai]]></category>
		<category><![CDATA[Om Malik]]></category>
		<category><![CDATA[Spark Capital]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=180328</guid>
		<description><![CDATA[Foursquare co-founder Naveen Selvadurai is leaving the company, three years after launching the check-in service. Sevaldurai says he's "not sure about my exact next steps" but will remain on the company's board. Foursquare investor Spark Capital is reportedly buying employee stock, and Selvadurai and co-founder Dennis Crowley have previously sold shares in an earlier funding round. Gigaom's Om Malik reported Selvadurai's departure earlier.]]></description>
			<content:encoded><![CDATA[<p>Foursquare co-founder Naveen Selvadurai is leaving the company, three years after launching the check-in service. Sevaldurai says he&#8217;s &#8220;not sure about my exact next steps&#8221; but will remain on the company&#8217;s board. Foursquare investor Spark Capital is <a href="http://techcrunch.com/2012/02/29/foursquare-is-doing-big-things-so-existing-investor-spark-capital-buys-50m-of-employee-stock/">reportedly</a> buying employee stock, and Selvadurai and co-founder Dennis Crowley have previously sold shares in an <a href="http://www.sec.gov/Archives/edgar/data/1470908/000147090810000002/xslFormDX01/primary_doc.xml">earlier funding round</a>. <a href="http://gigaom.com/2012/03/04/naveen-selvadurai-foursquare-co-founder-maybe-leaving/">Gigaom&#8217;s Om Malik</a> reported Selvadurai&#8217;s departure earlier.</p>
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		<title>Zynga General Manager Nabeel Hyatt Joins Spark as Venture Partner</title>
		<link>http://allthingsd.com/20120209/zynga-general-manager-nabeel-hyatt-joins-spark-as-venture-partner/</link>
		<comments>http://allthingsd.com/20120209/zynga-general-manager-nabeel-hyatt-joins-spark-as-venture-partner/#comments</comments>
		<pubDate>Thu, 09 Feb 2012 18:46:54 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Adventure World]]></category>
		<category><![CDATA[Conduit Labs]]></category>
		<category><![CDATA[Industry Moves]]></category>
		<category><![CDATA[M&A]]></category>
		<category><![CDATA[Nabeel Hyatt]]></category>
		<category><![CDATA[social gaming]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[VC]]></category>
		<category><![CDATA[Zynga]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=173180</guid>
		<description><![CDATA[Nabeel Hyatt, the founder of Zynga's Boston office, which led the development of Adventure World, has joined Spark Capital as a venture partner. Hyatt joined Zynga a little less than two years ago through the acquisition of Conduit Labs, where he was CEO and founder. Hyatt will help Spark's investments with product design, and consult on consumer Web, social and mobile projects.]]></description>
			<content:encoded><![CDATA[<p><a href=" http://nabeelhyatt.com/">Nabeel Hyatt</a>, the founder of Zynga&#8217;s Boston office, which led the development of Adventure World, has joined <a href="http://www.sparkcapital.com/">Spark Capital</a> as a venture partner. Hyatt joined Zynga a little less than two years ago through the acquisition of Conduit Labs, where he was CEO and founder. Hyatt will help Spark&#8217;s investments with product design, and consult on consumer Web, social and mobile projects.</p>
]]></content:encoded>
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		<title>Spark Capital Funds Academia.edu to Make Research Social</title>
		<link>http://allthingsd.com/20111130/spark-capital-funds-academia-edu-to-make-research-social/</link>
		<comments>http://allthingsd.com/20111130/spark-capital-funds-academia-edu-to-make-research-social/#comments</comments>
		<pubDate>Wed, 30 Nov 2011 20:00:51 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Academia.edu]]></category>
		<category><![CDATA[Benchmark Capital]]></category>
		<category><![CDATA[Bijan Sabet]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[ResearchGate]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[start-ups]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=148779</guid>
		<description><![CDATA[Academic research operates on an entirely different calendar than the rest of the world, but maybe the pace would be sped up if researchers could more easily follow and share with one another. That's the premise of Academia.edu, a social network that has three million monthly visitors and gets 3,000 new academic papers per day. It has now raised $4.5 million in funding, led by Bijan Sabet at Spark Capital. Competitors include the Benchmark-funded ResearchGate.]]></description>
			<content:encoded><![CDATA[<p>Academic research operates on an entirely different calendar than the rest of the world, but maybe the pace would be sped up if researchers could more easily follow and share with one another. That&#8217;s the premise of <a href="http://academia.edu/">Academia.edu</a>, a social network that has three million monthly visitors and gets 3,000 new academic papers per day. It has now raised $4.5 million in funding, led by Bijan Sabet at Spark Capital. <a href="http://gigaom.com/2010/09/08/matt-cohler-leads-funding-for-social-network-for-scientists/">Competitors include</a> the Benchmark-funded <a href="http://www.researchgate.net/">ResearchGate</a>.</p>
]]></content:encoded>
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		<title>RunKeeper Raises $10M for Health App Platform</title>
		<link>http://allthingsd.com/20111121/runkeeper-raises-10m-for-health-app-platform/</link>
		<comments>http://allthingsd.com/20111121/runkeeper-raises-10m-for-health-app-platform/#comments</comments>
		<pubDate>Mon, 21 Nov 2011 15:00:41 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[fitness]]></category>
		<category><![CDATA[health]]></category>
		<category><![CDATA[OATV]]></category>
		<category><![CDATA[Revolution Ventures]]></category>
		<category><![CDATA[RunKeeper]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[start-ups]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=146105</guid>
		<description><![CDATA[This summer, RunKeeper tried to transition from being a fitness app maker to a platform for data sharing between apps that track users' personal health. Now it has gotten some VCs to buy into that broader vision, with $10 million in new funding from Spark Capital, OATV and Revolution Ventures.]]></description>
			<content:encoded><![CDATA[<p>This summer, <a href="http://runkeeper.com/home">RunKeeper</a> tried to transition from being a fitness app maker to a <a href="http://runkeeper.com/apps">platform for data sharing between apps that track users&#8217; personal health</a>. Now it has gotten some VCs to buy into that broader vision, with $10 million in new funding from Spark Capital, OATV and Revolution Ventures.</p>
]]></content:encoded>
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		<title>Exclusive: Aviary Launches iPad Extensions Today, Keeps on Pivoting</title>
		<link>http://allthingsd.com/20111010/exclusive-aviary-launches-ipad-extensions-today-keeps-on-pivoting/</link>
		<comments>http://allthingsd.com/20111010/exclusive-aviary-launches-ipad-extensions-today-keeps-on-pivoting/#comments</comments>
		<pubDate>Mon, 10 Oct 2011 17:00:55 +0000</pubDate>
		<dc:creator>Drake Martinet</dc:creator>
				<category><![CDATA[Mobile]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Adobe]]></category>
		<category><![CDATA[Android]]></category>
		<category><![CDATA[Apple]]></category>
		<category><![CDATA[Avi Muchnick]]></category>
		<category><![CDATA[Aviary]]></category>
		<category><![CDATA[biz-dev]]></category>
		<category><![CDATA[browser]]></category>
		<category><![CDATA[Flash]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[image editing]]></category>
		<category><![CDATA[Industry Moves]]></category>
		<category><![CDATA[iOS]]></category>
		<category><![CDATA[iPad]]></category>
		<category><![CDATA[iPhone]]></category>
		<category><![CDATA[iPod touch]]></category>
		<category><![CDATA[Jeff Bezos]]></category>
		<category><![CDATA[Microsoft Office]]></category>
		<category><![CDATA[New York]]></category>
		<category><![CDATA[Paul Murphy]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Start-up]]></category>
		<category><![CDATA[Web app]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=130348</guid>
		<description><![CDATA[In the next move of a massive pivot away from Flash, Aviary, the New York-based media editing start-up, released a new SDK for iPad developers today.]]></description>
			<content:encoded><![CDATA[<p><img src="http://allthingsd.com/files/2011/10/ipad_landing-380x285.png" alt="" title="Aviary iPad " width="380" height="285" class="alignright size-medium wp-image-130351" /></p>
<p>In a continuation of its pivot away from Flash, Aviary, the New York-based multimedia editing start-up, is launching an iPad SDK and several new API extensions today. </p>
<p>If the Aviary name<a href="http://allthingsd.com/20091113/almost-famous-aviarys-israel-derdik/"> rings a bell</a>, you might be more familiar with the company’s last round of products, which brought Adobe-style media editing programs into the Web browser via &#8212; you guessed it &#8212; loads of Flash. </p>
<p>Though the SDK products are a huge departure from the company&#8217;s direction over the last three years, CEO Avi Muchnick said: &#8220;The overall goal has been about democratizing creativity &#8212; that hasn&#8217;t changed.&#8221;</p>
<p>But just about everything else has. </p>
<p>Muchnick said Aviary would no longer be actively adding to their impressive Flash-based editing suite, which includes tools for images, vector graphics and audio, among other things.</p>
<p>Today, rather than hoping you&#8217;ll drop an image into their in-browser editor, Aviary makes tools for iOS and Android app developers. </p>
<p>Specifically, Aviary&#8217;s kit allows app makers to quickly add image editing features like cropping, red-eye removal and filters into their existing iPhone, Android, and, now, iPad apps. </p>
<p><img src="http://allthingsd.com/files/2011/10/ipad_crop-380x285.png" alt="" title="ipad_crop" width="380" height="285" class="alignleft size-medium wp-image-130349" /></p>
<p>And as of today&#8217;s launch, Aviary’s iPad interface will be available in the <a href="http://pic-collage.com/">Pic Collage</a> iPad app,  as well as inside an update to <a href="http://flickrstudioapp.com/">Flickr Studio</a>, a third-party iPad app built on Yahoo&#8217;s Flickr API. </p>
<p>The turn-key image editing tools have a look and feel somewhere between Apple&#8217;s iOS itself and the old Aviary Flash apps.</p>
<p>But Muchnick is eager to please the new app developer partners Aviary is hoping to win.</p>
<p>&#8220;One of my goals was to make this customizable to fit the partner,&#8221; he said. &#8220;[Partners] can change colors to match their app, or grab just the features they want.&#8221;</p>
<p>The new focus on partnerships seems to be moving along well enough. </p>
<p>Aviary claims that mobile and API users edited over a million images last month, and the company has brought on former Microsoft Office&#8217;s Paul Murphy to be their VP of business development. </p>
<p>Prior to its new direction, Aviary had raised about $11 million total, most recently from Spark Capital and Amazon founder Jeff Bezos.</p>
<p>Aviary is yet another company abandoning Flash, after Apple and Steve Jobs declared it persona non grata for iOS devices. </p>
<p>The company has cut virtually all of its Flash developers and hired mobile developers to  build up its SDK offerings. </p>
<p>Massive organizational and directional shifts are tough on any start-up, but Muchnick says that the new direction is really not that at all. </p>
<p>&#8220;Aviary doesn&#8217;t need to be a destination anymore,&#8221; he said. &#8220;We want to power all the photo creativity that happens online, and apps are how that will happen.&#8221;</p>
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		<title>Another $85 Million for Tumblr</title>
		<link>http://allthingsd.com/20110926/another-85-million-for-tumblr/</link>
		<comments>http://allthingsd.com/20110926/another-85-million-for-tumblr/#comments</comments>
		<pubDate>Mon, 26 Sep 2011 11:55:54 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[David Karp]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[Greylock Partners]]></category>
		<category><![CDATA[Insight Venture Partners]]></category>
		<category><![CDATA[Peter Chernin]]></category>
		<category><![CDATA[Richard Branson]]></category>
		<category><![CDATA[Sequoia Capital]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Tumblr]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=124678</guid>
		<description><![CDATA[Tumblr, the booming blogging platform that has yet to spend much time generating revenue, now has even more time before it has to get down to business. The four-year-old company has raised an $85 million round led by Greylock Partners and Insight Venture Partners, along with new money from Peter Chernin and Richard Branson. Earlier investors Spark Capital, Union Square Ventures and Sequoia Capital re-upped as well.]]></description>
			<content:encoded><![CDATA[<p>Tumblr, the booming blogging platform that has yet to spend much time generating revenue, now has even more time before it has to get down to business. The four-year-old company has raised an $85 million round led by Greylock Partners and Insight Venture Partners, along with new money from Peter Chernin and Richard Branson. Earlier investors Spark Capital, Union Square Ventures and Sequoia Capital re-upped as well.</p>
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		<title>Twitter Shakes Things Up Again: Fred Wilson, Bijan Sabet Leaving Board</title>
		<link>http://allthingsd.com/20110916/twitter-shakes-things-up-again-fred-wilson-bijan-sabet-leaving-board/</link>
		<comments>http://allthingsd.com/20110916/twitter-shakes-things-up-again-fred-wilson-bijan-sabet-leaving-board/#comments</comments>
		<pubDate>Fri, 16 Sep 2011 14:52:55 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
		<category><![CDATA[Mobile]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Bijan Sabet]]></category>
		<category><![CDATA[Fred Wilson]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Twitter]]></category>
		<category><![CDATA[Union Square Ventures]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=121570</guid>
		<description><![CDATA[Twitter's is reshaping itself yet again, this time at a corporate level, as two prominent and early investors leave the company's board at the end of the month. Sources say Twitter won't fill their seats.]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/files/2011/09/fred-wilson.png"><img class="alignright size-medium wp-image-121615" title="fred wilson" src="http://allthingsd.com/files/2011/09/fred-wilson-380x259.png" alt="" width="380" height="259" /></a>Twitter is reshaping itself yet again, this time at a corporate level: Investors Fred Wilson and Bijan Sabet are leaving the company&#8217;s board at the end of the month. Sources say the company won&#8217;t fill their seats.</p>
<p>[<strong>UPDATE:</strong> Twitter confirmed our post in a statement: </p>
<p>"Bijan Sabet and Fred Wilson both played important and greatly appreciated roles in our success. Both saw what Twitter could become before most anyone else. We look forward to their continued input as both investors in the company and passionate users of the product."]</p>
<p>Wilson, a high-profile principal at Union Square Ventures, was one of Twitter&#8217;s earliest backers, and for a long period helped to steer the company&#8217;s direction. Sabet&#8217;s Spark Capital was also an early investor.</p>
<p>Both funds have sold some of their Twitter holdings via secondary market sales. But people familiar with the companies say both continue to hold a majority of their stake in Twitter, now valued at $8.4 billion.</p>
<p>If there&#8217;s a backstory here, it will be hard to tease out. People familiar with all three companies tell me there&#8217;s no bad blood behind the move. The one thing that&#8217;s easy to understand &#8212; for now, at least &#8212; is that Twitter&#8217;s board is a little less unwieldy.</p>
<p>It has been swelling over time, and last year got even bigger when Flipboard’s Mike McCue, former DoubleClick CEO David Rosenblatt and Silicon Valley advisor-to-many Peter Currie all joined. Other board members include Benchmark&#8217;s Peter Fenton and CEO Dick Costolo.</p>
<p>And, for a relatively young company, Twitter&#8217;s corporate history is full of twists and turns. The most recent and prominent ones were <a href="http://allthingsd.com/20101004/breaking-twitter-replaces-ceo-ev-williams-with-deputy-dick-costolo/">Costolo&#8217;s ascension from COO to CEO a year ago</a>, when he replaced co-founder Evan Williams; and co-founder <a href="http://allthingsd.com/20110328/twitter-gets-its-messiah-dorsey-officially-returns-to-lead-product/">Jack Dorsey&#8217;s return to the company last spring</a> to head its product efforts, after being pushed out in 2008.</p>
<p>I&#8217;ve asked Wilson, Sabet and Twitter for comment.</p>
<p>[<em>Image credit: <a href="http://www.flickr.com/photos/lachlanhardy/5197829385/sizes/l/in/photostream/">Lachlan Hardy</a></em>]</p>
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		<title>Take the Money and Run? Twitter Shareholders Now Mulling Cash-Out Offer From DST.</title>
		<link>http://allthingsd.com/20110831/take-the-money-and-run-twitter-shareholders-now-mulling-cash-out-offer-from-dst/</link>
		<comments>http://allthingsd.com/20110831/take-the-money-and-run-twitter-shareholders-now-mulling-cash-out-offer-from-dst/#comments</comments>
		<pubDate>Wed, 31 Aug 2011 17:13:08 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Andreessen Horowitz]]></category>
		<category><![CDATA[angel]]></category>
		<category><![CDATA[Benchmark Capital]]></category>
		<category><![CDATA[Biz Stone]]></category>
		<category><![CDATA[California]]></category>
		<category><![CDATA[Chris Sacca]]></category>
		<category><![CDATA[common]]></category>
		<category><![CDATA[creator]]></category>
		<category><![CDATA[Dick Costolo]]></category>
		<category><![CDATA[DST Global]]></category>
		<category><![CDATA[employee]]></category>
		<category><![CDATA[Evan Williams]]></category>
		<category><![CDATA[firm]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[holdings]]></category>
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		<category><![CDATA[T. Rowe Price]]></category>
		<category><![CDATA[Take the Money and Run]]></category>
		<category><![CDATA[tender offer]]></category>
		<category><![CDATA[transaction]]></category>
		<category><![CDATA[Twitter]]></category>
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		<category><![CDATA[valuation]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=115651</guid>
		<description><![CDATA[To sell or not to sell any of their shares is the question facing Twitter stakeholders right now, as the second $400 million part of the company's funding by Russia's DST Global nears completion.]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20110831/take-the-money-and-run-twitter-shareholders-now-mulling-cash-out-offer-from-dst/images-12/" rel="attachment wp-att-115704"><img src="http://allthingsd.com/files/2011/08/images1.png" alt="" title="images" width="190" height="266" class="alignright size-full wp-image-115704" /></a></p>
<p>Whether or not to sell any of their shares in Twitter is the big decision facing stakeholders of the microblogging service right now, as the second $400 million part of the company&#8217;s recent funding by Russia&#8217;s DST Global is completed in the next several weeks.</p>
<p>That includes everyone from early angel investors to those who bought it on the secondary markets to Twitter&#8217;s 600 employees, all of whom can sell a portion &#8212; up to 20 percent, sources said &#8212; of their holdings.</p>
<p>It&#8217;s all part of a <a href="http://allthingsd.com/20110720/twitter-poised-to-close-a-two-stage-800m-funding-with-half-used-to-cash-out-investors-and-employees/">recent $800 million mega-funding</a> by Twitter, <a href="http://allthingsd.com/20110801/twitter-confirms-funding-with-dst/">valuing the San Francisco company at $8.4 billion</a>.</p>
<p>While $400 million went to Twitter, the second tranche of $400 million of the total was targeted to cash out current investors and also employees of the company.</p>
<p>Current investors include Benchmark Capital, Union Square Ventures, Spark Capital and several other venture firms, as well as a spate of prominent angel investors, such as Ron Conway.</p>
<p>Whether DST &#8212; as well as other smaller buyers, including early Twitter investor Chris Sacca and T. Rowe Price, according to the tender offer &#8212; gets them and others to sell enough shares is the big question, especially since few want to get caught in what one shareholder called the &#8220;Facebook idiot box.&#8221;</p>
<p>That would be referring to those who sold their investments in Facebook two years ago, when the <a href="http://allthingsd.com/20090713/facebookers-start-cashing-out-with-new-100-million-investment/">social networking giant allowed its employees to sell</a> 20 percent of their stakes to DST.</p>
<p>The financing was part of a $100 million add-on to a $200 million investment in the social networking company by the aggressive Russian investor.</p>
<p>At the time, the tender offer valued Facebook at $6.5 billion for the common stock, or $14.77 a share.</p>
<p>Of course, Facebook is worth upward of more than 10 times that now. <em>Oops!</em></p>
<p>That&#8217;s why high-profile Silicon Valley venture firm Andreessen Horowitz, for example, is not selling out any of the shares it bought earlier this year in an <a href="http://allthingsd.com/20110209/exclusive-andreessen-horowitz-invests-80-million-in-twitter/">$80 million transaction in private secondary markets</a>. </p>
<p>Reasons to sell, of course, are also compelling.</p>
<p>Some investors might want to lock in upside, especially if they think the latest valuation is too high. </p>
<p>For venture capitalists in the company, some might want to return a win to their limited partners, while Twitter employees might want to put a down payment on a house after years of toiling in the start-up.</p>
<p>Others might also be worried about Twitter&#8217;s prospects going forward and might determine that the recent round was the high point of its market value. Twitter has indeed struggled to find a sustainable and lucrative business model, focused on advertising. </p>
<p>In addition, although it has recently stabilized, others might worry about Twitter&#8217;s management changes over the last year, as co-founders Biz Stone and Evan Williams have departed. Twitter creator and other co-founder Jack Dorsey is now running the company&#8217;s product efforts, with CEO Dick Costolo (who looks a lot like that Woody Allen shot above from the classic movie, &#8220;Take the Money and Run&#8221;).</p>
<p>Then again, that was exactly the take on Facebook several years ago, so it is now a case on all sides of seller beware.</p>
<p>Twitter declined to comment and I have not heard back yet from DST about the status of the transaction.</p>
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		<title>Twitter Poised to Close a Two-Stage $800M Funding, With Half Used to Cash Out Investors and Employees</title>
		<link>http://allthingsd.com/20110720/twitter-poised-to-close-a-two-stage-800m-funding-with-half-used-to-cash-out-investors-and-employees/</link>
		<comments>http://allthingsd.com/20110720/twitter-poised-to-close-a-two-stage-800m-funding-with-half-used-to-cash-out-investors-and-employees/#comments</comments>
		<pubDate>Wed, 20 Jul 2011 19:42:45 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[angel]]></category>
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		<category><![CDATA[common]]></category>
		<category><![CDATA[conference]]></category>
		<category><![CDATA[deal]]></category>
		<category><![CDATA[Dick Costolo]]></category>
		<category><![CDATA[DST Global]]></category>
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		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[financing]]></category>
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		<category><![CDATA[Google]]></category>
		<category><![CDATA[Groupon]]></category>
		<category><![CDATA[growth]]></category>
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		<guid isPermaLink="false">http://allthingsd.com/?p=100662</guid>
		<description><![CDATA[In a move reminiscent of one done by Facebook in 2009, Twitter is zeroing in on a complex $800 million funding deal, which includes a tasty $400 million payout for its current investors and also employees.]]></description>
			<content:encoded><![CDATA[<p><a href="http://allthingsd.com/20110720/twitter-poised-to-close-a-two-stage-800m-funding-with-half-used-to-cash-out-investors-and-employees/payday/" rel="attachment wp-att-100735"><img class="alignright size-medium wp-image-100735" title="payday" src="http://allthingsd.com/files/2011/07/payday-285x285.png" alt="" width="285" height="285" /></a></p>
<p>In a <a href="http://allthingsd.com/20090713/facebookers-start-cashing-out-with-new-100-million-investment/">move reminiscent of one done by Facebook</a> in 2009, Twitter is close to completing an $800 million funding deal that will include a second part in which around $400 million of the total will be used to cash out current investors and also employees.</p>
<p>According to several sources close to the situation, the complex transaction could be completed within two weeks.</p>
<p>Along with basic funding needs, this is largely being done this way to give those with stakes in the San Francisco microblogging company an ability to monetize their privately held common stock and also to do this selling in a more organized &#8212; and legal &#8212; manner.</p>
<p>That is especially important since the company is not likely to go public for at least a year or more. And, while it could also be sold to a bigger company such as Google, that is also not in Twitter&#8217;s immediate future.</p>
<p>Before this secondary follow-on, the first part of the deal will be a $400 million investment for preferred shares by new and also existing shareholders, as was <a href="http://dealbook.nytimes.com/2011/07/07/investment-values-twitter-at-8-billion/">reported by the New York Times</a> last week.</p>
<p>That round will indeed value Twitter at $8 billion, as the Times reported, which is a higher number than in other earlier reports.</p>
<p>This is more than double what Twitter was valued at when it got <a href="http://allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/">$200 million in venture funding from Kleiner Perkins in December</a> at a $3.7 billion valuation.</p>
<p>Once the latest investments are complete, Twitter&#8217;s total cash haul since it was founded five years ago will be $760 million.</p>
<p>Key new moneybags are expected to be Russian investing heavyweight DST Global, which has invested in Facebook, Zynga and Groupon; as well as the digital growth fund of J.P. Morgan and perhaps others.</p>
<p>Current investors include Benchmark Capital, Union Square Ventures, Spark Capital and several other venture firms, as well as a spate of prominent angel investors.</p>
<p>The latest funding is an important one for Twitter and will up the pressure for its management, including CEO Dick Costolo, to really get its business growing in terms of revenue and profits.</p>
<p>Twitter is still struggling with coming up with a truly lucrative business model, and its execs have presented a number of them, such as promoted tweets, largely based on advertising.</p>
<p>It reportedly has $200 million in annual revenue from its efforts, which is still small in comparison to other Web 2.0 start-ups.</p>
<p>Interestingly, that was a similar situation to where Facebook found itself two years ago, when it allowed its employees to sell 20 percent of their shares.</p>
<p>That financing was part of a $100 million add-on to a $200 million investment in the social networking company by DST. At the time, the tender offer valued the company at $6.5 billion for the common stock, or $14.77 a share.</p>
<p>Of course, Facebook is worth upward of more than 10 times that now, so any Twitter sellers might want to consider their options carefully.</p>
<p>It is not clear exactly who can sell their Twitter shares, and in what amount, in the new deal. When Facebook did a similar move, for example, its top leadership could not sell any of their stakes.</p>
<p>A Twitter spokeswoman would not comment about any fund raising.</p>
<p>But, interestingly, in an <a href="http://allthingsd.com/20110719/liveblogging-twitters-dick-costolo-at-fortune-brainstorm-tech/?refcat=social">onstage interview</a> at a Fortune magazine tech conference this week, Costolo criticized stock trading of the shares of popular start-ups on secondary exchanges as a &#8220;distraction.&#8221; Like other companies, he said, Twitter had instituted stricter policies to limit the ability of its employees and investors to trade on those markets.</p>
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		<title>Online Home Furnishings Retailer CSN Stores Raises $165 Million</title>
		<link>http://allthingsd.com/20110622/online-home-furnishings-retailer-csn-stores-raises-165-million/</link>
		<comments>http://allthingsd.com/20110622/online-home-furnishings-retailer-csn-stores-raises-165-million/#comments</comments>
		<pubDate>Wed, 22 Jun 2011 17:00:25 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[AllModern.com]]></category>
		<category><![CDATA[Battery Ventures]]></category>
		<category><![CDATA[Cookware.com]]></category>
		<category><![CDATA[CSN Stores]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[flash sales]]></category>
		<category><![CDATA[Great Hill]]></category>
		<category><![CDATA[HarbourVest Partners]]></category>
		<category><![CDATA[JossandMain.com]]></category>
		<category><![CDATA[Luggage.com]]></category>
		<category><![CDATA[Niraj Shah]]></category>
		<category><![CDATA[retail]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Strollers.com]]></category>
		<category><![CDATA[Wayfair.com]]></category>

		<guid isPermaLink="false">http://allthingsd.com/?p=89637</guid>
		<description><![CDATA[CSN Stores, an online retailer of housewares and home furnishings, has raised capital for the first time ever in its nine-year history -- and it's a whopper of a round.]]></description>
			<content:encoded><![CDATA[<p>CSN Stores, an online retailer of housewares and home furnishings, has raised capital for the first time ever in its nine-year history &#8212; and it&#8217;s a whopper of a round.</p>
<p><a rel="attachment wp-att-89663" href="http://allthingsd.com/20110622/online-home-furnishings-retailer-csn-stores-raises-165-million/csnstores_logo/"><img class="alignright size-full wp-image-89663" title="csnstores_logo" src="http://allthingsd.com/files/2011/06/csnstores_logo.jpg" alt="" width="242" height="55" /></a>The Boston-based company has just closed a round totaling $165 million from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital.</p>
<p>The funding will go toward expansion both internationally and in the U.S.; for acquisitions; and to support the launch of its new brand, Wayfair.com.</p>
<p>While you may not have heard of the parent company, it&#8217;s likely that you&#8217;ve stumbled upon some of its major brands, like Cookware.com, Luggage.com and Strollers.com. Going forward, CSN plans to consolidate its more than 200 sites into the Wayfair.com brand in late summer.</p>
<p><a rel="attachment wp-att-89667" href="http://allthingsd.com/20110622/online-home-furnishings-retailer-csn-stores-raises-165-million/wayfair_logo/"><img class="alignleft size-full wp-image-89667" title="wayfair_logo" src="http://allthingsd.com/files/2011/06/wayfair_logo.png" alt="" width="172" height="75" /></a>Its two other brands of focus are AllModern.com, which offers modern design, and JossandMain.com, which is CSN&#8217;s new flash sale site offering high-end items for the home at up to 70 percent off.</p>
<p>In a release, CSN&#8217;s CEO and co-founder, Niraj Shah, said the company has been profitable since 2002 despite aggressive growth. The company said it expects revenues to surpass $500 million, increasing from $383 million in 2010.</p>
<p>With 800 employees now, CSN could reach 1,000 staffers by year&#8217;s end.</p>
<p>Shah said with the additional cash, the company will be able to grow even faster. &#8220;Looking ahead four or five years, we think with the help of our investors, we are on the path to becoming a much larger, publicly traded company,&#8221; he said.</p>
<p>CSN estimates that the U.S. home goods market for furniture, decor, housewares and home improvement industry is more than $500 billion, but only a small percentage has gone online. CSN said it attracts more than 100 million visits to its sites every year and offers more than three million items from 5,000 brands for sale.</p>
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		<title>Txteagle Has 2.1 Billion Phone Numbers and $8.5 Million Dollars</title>
		<link>http://allthingsd.com/20110405/txteagle-has-2-1-billion-phone-numbers-and-8-5-million-dollars/</link>
		<comments>http://allthingsd.com/20110405/txteagle-has-2-1-billion-phone-numbers-and-8-5-million-dollars/#comments</comments>
		<pubDate>Tue, 05 Apr 2011 07:28:30 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[NetworkEffect]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[text messages]]></category>
		<category><![CDATA[Txteagle]]></category>
		<category><![CDATA[United Nations]]></category>

		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=5177</guid>
		<description><![CDATA[Txteagle, which conducts surveys via text message in emerging markets, has raised $8.5 million in Series A funding from Spark Capital and seed investors RBC Venture Partners, Flywheel Ventures, and Qualcomm Ventures.]]></description>
			<content:encoded><![CDATA[<p><a href="http://txteagle.com/">Txteagle</a>, which conducts surveys via text message in emerging markets, has raised $8.5 million in Series A funding from Spark Capital and seed investors RBC Venture Partners, Flywheel Ventures, and Qualcomm Ventures.</p>
<p>The Boston-based company has deals with 220 phone carriers in nearly 100 countries, for an astounding 2.1 billion consumers in its database.</p>
<p>Those carriers support the usage of a proprietary messaging protocol with an integrated compensation mechanism that allows Txteagle to ask users questions via text and pay them for their participation by crediting their accounts with money and airtime.</p>
<p>Earlier this year when he was visiting California, Txteagle co-founder and CEO Nathan Eagle explained the company&#8217;s business in a video interview with NetworkEffect.</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=E69AC7DB-3705-492B-B867-79E15359BD0C&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={E69AC7DB-3705-492B-B867-79E15359BD0C}&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>Eagle said the United Nations spends approximately $5 million per year to do surveys on disaster preparedness with face-to-face interviews. Txteagle helped the U.N. with its disaster preparedness surveys this year, and got more than five times as many people to participate via mobile phones in 49 countries for a fraction of that cost.</p>
<p>Meanwhile, customers in Txteagle&#8217;s emerging markets average 10 percent of their annual income spent on their phones, so they value participating as well.</p>
<p>Eagle said hundreds of thousands of people have taken Txteagle surveys so far. Potential and current Txteagle customers could be large consumer goods companies, large multinational organizations, market research companies, hedge funds and financial institutions, he said.</p>
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		<title>If You Want to Be a CEO, Work at Microsoft Instead of Google, Says Top Prospect*</title>
		<link>http://allthingsd.com/20110404/if-you-want-to-be-a-ceo-work-at-microsoft-instead-of-google-says-top-prospect/</link>
		<comments>http://allthingsd.com/20110404/if-you-want-to-be-a-ceo-work-at-microsoft-instead-of-google-says-top-prospect/#comments</comments>
		<pubDate>Mon, 04 Apr 2011 12:00:54 +0000</pubDate>
		<dc:creator>Liz Gannes</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Social]]></category>
		<category><![CDATA[Andreessen Horowitz]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[LinkedIn]]></category>
		<category><![CDATA[NetworkEffect]]></category>
		<category><![CDATA[Okcupid]]></category>
		<category><![CDATA[Spark Capital]]></category>
		<category><![CDATA[Top Prospect]]></category>

		<guid isPermaLink="false">http://networkeffect.allthingsd.com/?p=5128</guid>
		<description><![CDATA[Today, Top Prospect--which uses Facebook and LinkedIn and hefty bounties to help companies recruit employees--is posting on its blog a widget that shows, based on other people's profile data, how working at a certain company might improve a person's likeliness of having a certain title later in his or her career.]]></description>
			<content:encoded><![CDATA[<p>OKCupid, which was recently <a href="http://emoney.allthingsd.com/20110202/okcupid-and-match-com-to-marry/">bought by Match.com</a>, famously raised its profile with <a href="http://blog.okcupid.com/">hilarious blog posts</a> that analyzed and illustrated user data to find trends, expose lies and give advice about online dating. Finding a job is kind of like finding a mate, and <a href="http://www.topprospect.com/">Top Prospect</a> is hoping to follow the OKCupid data-crunching path to success&#8211;or at least attention.</p>
<p>Today, Top Prospect&#8211;which uses Facebook and LinkedIn and hefty bounties to help companies recruit employees&#8211;is <a href="http://blog.topprospect.com/2011/04/microsoft-alum-more-likely-to-be-ceos-than-former-googlers/">posting on its blog</a> a widget that shows, based on other people&#8217;s profile data, how working at a certain company might improve a person&#8217;s likeliness of having a certain title later in his or her career.</p>
<p>By aggregating employment histories from the 1.5 million profiles in its network, Top Prospect found that former Microsoft employees were 111 percent more likely to be CEOs than former Googlers, with a 2.9 percent chance versus 1.4 percent chance for Google.</p>
<p style="text-align: center;"><a href="http://blog.topprospect.com/2011/04/microsoft-alum-more-likely-to-be-ceos-than-former-googlers/"><img class="size-Medium380 wp-image-5140 aligncenter" title="TopProspect" src="http://networkeffect.allthingsd.com/files/2011/04/TopProspect-380x223.png" alt="" width="380" height="223" /></a></p>
<p>But, as Top Prospect admits, this perspective is skewed since Microsoft has been around for 20 more years than Google. (That&#8217;s why I put the asterisk in my headline.)</p>
<p>What would be preferable is if Top Prospect delved deeper and compared what happened to Microsoft and Google alums with similar timing and tenure at each company.</p>
<p>But as is, the data did show that former Google employees are three percent more likely to at some later date have the title &#8220;founder&#8221; than former Microsoft employees.</p>
<p>In addition, former Apple employees are 74 percent more likely to become CEOs and 15 percent more likely to found companies than people who worked at Microsoft.</p>
<p>Meanwhile, have you heard about the disproportionate Silicon Valley dominance of the PayPal mafia? Well, by the numbers, former Google employees are 33 percent more likely to be founders than former PayPal employees.</p>
<p>The latest Top Prospect post follows a <a href="http://blog.topprospect.com/2011/02/test/">previous one</a> that compared users&#8217; college histories, finding that UCLA grads are one percent more likely than Stanford grads to found companies.</p>
<p>Top Prospect, which launched an alpha version of its main site at the end of last year and <a href="http://networkeffect.allthingsd.com/20110104/holy-start-up-pileup-social-networking-gets-professional/">raised funding</a> from Andreessen Horowitz and Spark Capital, has far fewer than 1.5 million users, but it sucks in profile information for all the people connected to its users on Facebook and LinkedIn.</p>
<p>LinkedIn especially must have more comprehensive information about these same topics, though that company says it is <a href="http://networkeffect.allthingsd.com/20110401/reid-hoffman-on-how-to-handle-user-data-video/">wary of aggregating data in ways its users don&#8217;t anticipate</a>.</p>
<p>Not to say the Top Prospect widget isn&#8217;t harmless and fun, even if it doesn&#8217;t bring the LOLs and the hard-hitting analysis like OKCupid.</p>
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		<title>Former DoubleClick Execs Create Groupon Competitor, But It&#039;s Not Exactly A Clone</title>
		<link>http://allthingsd.com/20110309/former-doubleclick-execs-create-groupon-competitor-but-its-not-exactly-a-clone/</link>
		<comments>http://allthingsd.com/20110309/former-doubleclick-execs-create-groupon-competitor-but-its-not-exactly-a-clone/#comments</comments>
		<pubDate>Wed, 09 Mar 2011 12:00:11 +0000</pubDate>
		<dc:creator>Tricia Duryee</dc:creator>
				<category><![CDATA[Commerce]]></category>
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		<guid isPermaLink="false">http://emoney.allthingsd.com/?p=3394</guid>
		<description><![CDATA[Think there's already too many Groupon clones? Think again. Group Commerce, which is coming out of stealth today, has the pedigree and the funding to be a viable contender. What's more, it is coming out of the gate running with four major publishing partners already signed up on its publisher platform.]]></description>
			<content:encoded><![CDATA[<p>Think there&#8217;s already too many Groupon clones?</p>
<p>Think again.</p>
<p><img class="alignright size-medium wp-image-3408" title="groupcommerce_logo" src="http://emoney.allthingsd.com/files/2011/03/groupcommerce_logo-275x86.jpg" alt="" width="275" height="86" />New York-based <a href="http://groupcommerce.com/">Group Commerce</a>, which is coming out of stealth today, has the funding and the pedigree to be a viable contender.</p>
<p>Founded by former Google and DoubleClick executives David Rosenblatt, Jonty Kelt, and Andrew Glenn, has raised $8 million in capital.</p>
<p>Investors include: Spark Capital, Carmel Ventures, Lerer Media Ventures, and Bob Pittman, the founder of MTV Networks and now chairman of media and entertainment platforms at Clear Channel.</p>
<p>What&#8217;s more, it is coming out of the gate running with four major publishers added to its platform: DailyCandy, Meredith Corporation, Thrillist and The New York Times.</p>
<p>In an exclusive interview with eMoney, Rosenblatt and Kelt explain that unlike Groupon or LivingSocial, Group Commerce is not building its own consumer brand, and won&#8217;t be targeting deals directly at consumers. Rather, it&#8217;s banking on building a platform that other media companies can leverage.</p>
<p>Rosenblatt, who was the former CEO of DoubleClick, is the company&#8217;s chairman, Kelt is CEO, and Glenn is the company&#8217;s CTO. All three were at DoubleClick when it was acquired by Google for $3.1 billion</p>
<p>Ironically, they are now building a business that Google desperately wants to get into, but failed after an unsuccessful $6 billion bid to acquire Groupon.</p>
<p>Rosenblatt said:</p>
<p><img class="alignright size-full wp-image-3406" title="groupcommerce_davidrosenblatt" src="http://emoney.allthingsd.com/files/2011/03/groupcommerce_davidrosenblatt.jpg" alt="" width="148" height="207" /> &#8220;Of course, this is going to be a very big market, and there will be many more players than just two. Each participant will have a different approach. Google clearly has one, but we believe collectively that publishers have the strongest advantage. They have the audience and the brand loyalty, but they are missing the mechanics and industry expertise.&#8221;</p>
<p>The daily deals space is getting exceedingly crowded.</p>
<p>The market is expected to soar to as much as $3.9 billion in the next four years, and there&#8217;s roughly 200 players in the space, <a href="nearly 200 other players trying to get into the space, a">according to estimates by BIA/Kelsey</a>.</p>
<p>Rosenblatt compared the market to the early days of online advertising when AOL and Yahoo dominated.</p>
<p>&#8220;In the early days of the display market, a big share of the market was dominated by two players, but overtime advertising was redistributed to where the audience was. Groupon and LivingSocial have done a great job creating a market, and they will continue to be very large, but there will be a similar redistribution in favor of publishers,&#8221; he said.</p>
<p>Beyond Groupon and LivingSocial, which are considered the market leaders, there&#8217;s other companies attacking several niches, ranging from furniture to baby apparel, travel and families. There&#8217;s also companies that say they offer exactly what Group Commerce is describing&#8211;a white label solution for publishers&#8211;including Seattle-based Tippr and ReachLocal, which recently acquired DealOn.</p>
<p>&#8220;There&#8217;s a huge number of Groupon clones,&#8221; Rosenblatt said. &#8220;The insight here is that none of those clones have established publishers, they don’t have brands or trusted relationships, or customer lists&#8230;.We don’t have a b2c business, but that is the case with most of the other white label providers. They also don’t have teams and our breadth of services.&#8221;</p>
<p>He says the three components that you must have in order to be successful in the space are: A loyal audience; great content and deals; and a technology platform.</p>
<p>&#8220;The publishers we&#8217;ve worked with for many years [at DoubleClick] are in the process of transitioning to a new digital economy,&#8221; Rosenblatt said. &#8220;They have an audience and the ability to match the audience to deals that are contextually relevant. Our role is to offer the third part.&#8221;</p>
<p><img class="alignright size-full wp-image-3407" title="groupcommerce_jontykelt" src="http://emoney.allthingsd.com/files/2011/03/groupcommerce_jontykelt.jpg" alt="" width="148" height="207" />Group Commerce is not just offering a technology platform, but also is sourcing the deals for its media partners, and finding a large audience and wide range of demographics for the merchants across publications.</p>
<p>Daily deals typically offer discounts at restaurants or other services for as much as 50 to 70 percent off. The customer pays for the voucher up front and then redeems it later. Typically, the merchant only gets half of that cash, while the other half goes to Groupon or another provider. For the merchant it&#8217;s a new form of advertising, replacing traditional methods, like Yellow Pages or newspaper ads.</p>
<p>Group Commerce would not disclose its revenue splits, but said it is paid with a portion of gross revenue of each deal, and that it&#8217;s a shared risk model. &#8220;If the deals don’t work, we don’t get paid,&#8221; Kelt said.</p>
<p>Kelt added that they believe their model will work because it combines the publisher&#8217;s knowledge of the audience with the merchants. For instance, DailyCandy&#8217;s audience is young and female, and a reader may be interested in an offer for a ladies night out at an upscale restaurant.</p>
<p>Although a potential customer does not have necessarily have to be a publisher, Kelt notes. It can be anyone with an audience, including a celebrity with a large following on Twitter.</p>
<p>Today, Group Commerce has 35 employees in New York, Chicago, Florida, San Francisco and Los Angeles. It&#8217;s planning to grow to 100 employees by the end of the year with the majority being sales people.</p>
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		<title>Roll ’Em Up! Video Back-End Company KIT Digital Buys KickApps, Kyte, Kewego</title>
		<link>http://allthingsd.com/20110131/roll-em-up-video-backend-company-kit-digital-buys-kickapps-kyte-kewego/</link>
		<comments>http://allthingsd.com/20110131/roll-em-up-video-backend-company-kit-digital-buys-kickapps-kyte-kewego/#comments</comments>
		<pubDate>Mon, 31 Jan 2011 12:43:38 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
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		<category><![CDATA[acquisitions]]></category>
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		<category><![CDATA[Alex Blum]]></category>
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		<category><![CDATA[deals]]></category>
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		<category><![CDATA[Kaleil Isaza Tuzman]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=28894</guid>
		<description><![CDATA[One buyer, three exits: KIT Digital, which helps big companies manage Web video delivery, has picked up three start-ups for a total of $77 million.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2011/01/big-gulp.jpeg"><img class="alignright size-medium wp-image-28896" title="big gulp" src="http://mediamemo.allthingsd.com/files/2011/01/big-gulp-158x300.jpg" alt="" width="158" height="300" /></a>One buyer, three exits: <a href="http://kitd.com/">KIT Digital</a>, which helps big companies manage Web video delivery, has picked up three start-ups in the last week. KIT paid a total of $77.2 million for <a href="http://www.kickapps.com/">KickApps</a>, a New York-based social media app maker, <a href="http://www.kyte.com/">Kyte</a>, a San Francisco-based mobile video company and Paris-based <a href="http://www.kewego.com/en/">Kewego</a>, which helps push video to multiple kinds of screens.</p>
<p>KickApps CEO Alex Blum will become KIT&#8217;s COO, and Blum and KIT CEO Kaleil Isaza Tuzman say almost all of the three acquired companies&#8217; employees will hang on to their jobs.</p>
<p>Tuzman said his company paid about $62 million in KIT&#8217;s Nasdaq-traded stock for the three companies, and the balance in cash.</p>
<p>KickApps and Kyte had collectively raised some $55 million, so the companies&#8217; backers aren&#8217;t going to do much more than break even in these deals. And the deal may be a coulda-shoulda for KickApps, which had <a href="http://kara.allthingsd.com/20080314/is-kickapps-next-to-board-aols-gravy-train/">talked to AOL about a $90 million deal</a> three years ago, but never got it done.</p>
<p>Blum wouldn&#8217;t comment directly about the AOL non-deal, except to note that the spring of 2008 &#8220;was a different era.&#8221; And he says that all of his investors, which include North Atlantic Capital, Spark Capital and Softbank, have gotten &#8220;more than their money back,&#8221; and that all of them have taken KIT stock instead of cash. Spark general partner Santo Politi will join KIT&#8217;s board.</p>
<p>Tuzman, meanwhile, has an interesting story. During the first bubble he ran GovWorks, a failed start-up that happened to have a <a href="http://www.forbes.com/forbes/2001/0430/064.html">movie crew documenting its rise and fall</a>. (Sadly, you can&#8217;t get &#8220;Startup.com&#8221; from <a href="http://www.netflix.com/Movie/Startup.com/70003079">Netflix</a> or any other obvious place&#8211;can anyone point us to a copy?)</p>
<p>But this <a href="http://www.forbes.com/forbes/2010/1025/entrepreneurs-jumptv-kit-digital-startup-the-sequel_2.html">Forbes profile</a> documents his efforts to build a second career. And at the very least, his newest company appears to be growing. In its last public filing, KIT reported quarterly losses of $8 million on sales of $28 million, which was up 151 percent from the previous year.</p>
<p>And late last year, KIT raised more than $100 million earmarked for acquisitions. None of that money, Tuzman says, was spent on these three deals.</p>
<p>[<em>Image credit: <a href="http://en.wikipedia.org/wiki/User:Tyw7#pic">Tyw7</a> via <a href="http://en.wikipedia.org/wiki/File:Big_gulp6480.JPG">Wikipedia</a></em>]</p>
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		<title>OMGPOP Wins a $10 Million Round for Social Games From Rho, Softbank</title>
		<link>http://allthingsd.com/20110106/omgpop-wins-a-10-million-round-for-social-games-from-rho-softbank/</link>
		<comments>http://allthingsd.com/20110106/omgpop-wins-a-10-million-round-for-social-games-from-rho-softbank/#comments</comments>
		<pubDate>Thu, 06 Jan 2011 19:17:07 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=27714</guid>
		<description><![CDATA[Here's that serious investment money for casual/social games company OMGPOP that I told you about in November. The money will go into development for more games for Facebook, and a move into Android and iPhone, too.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2010/11/OMGPOP_logo.png"><img class="alignright size-full wp-image-25423" title="OMGPOP_logo" src="http://mediamemo.allthingsd.com/files/2010/11/OMGPOP_logo.png" alt="" width="200" height="135" /></a>Here&#8217;s that <a href="http://mediamemo.allthingsd.com/20101102/casual-games-startup-omgpop-raising-a-serious-funding-round/">serious investment money for casual/social games company OMGPOP </a>that I told you about in November: The company has raised $10.1 million in a funding round led by Rho Ventures and Softbank; earlier investors Spark Capital and Betaworks have re-upped as well.</p>
<p>The company, which has made a big push into Facebook games in the last six months, says it will use the new money to develop more games for the social network, as well as for Apple&#8217;s iPhone and Google&#8217;s Android platform.</p>
<p>The new money brings OMGPOP&#8217;s total funding to $16.6 million over its four-year history.</p>
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		<title>Do You Want To Save Your Web Ads? AdKeeper Bets $35 Million That You Will</title>
		<link>http://allthingsd.com/20110102/do-you-want-to-save-you-web-ads-adkeeper-bets-35-million-that-you-will/</link>
		<comments>http://allthingsd.com/20110102/do-you-want-to-save-you-web-ads-adkeeper-bets-35-million-that-you-will/#comments</comments>
		<pubDate>Mon, 03 Jan 2011 05:01:05 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
				<category><![CDATA[Media]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[About.com]]></category>
		<category><![CDATA[AdKeeper]]></category>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=27515</guid>
		<description><![CDATA[Oak Investment leads a giant funding round in Scott Kurnit's new startup, which thinks that Web surfers will stop ignoring ads, and start saving them. If he's right, it's a big deal. If not...]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2011/01/scott-kurnit1.jpg"><img class="alignright size-full wp-image-27522" title="scott kurnit" src="http://mediamemo.allthingsd.com/files/2011/01/scott-kurnit1.jpg" alt="" width="188" height="194" /></a>Want to save and store your favorite Web ads? <a href="http://www.adkeeper.com/">AdKeeper</a> thinks you do. And now the startup has convinced investors to make a huge bet on the concept, too: The company, which has yet to launch, has raised $35 million in a round led by Oak Investment Partners.</p>
<p>Add that to the $8 million AdKeeper rounded up earlier in 2010 from investors including DCM, Spark Capital, First Round Capital, and the New York Times, and you get a sense of the ambition involved here. CEO Scott Kurnit thinks he&#8217;ll end up creating a new kind of advertising platform &#8212; if Internet users cooperate.</p>
<p>The <a href="http://www.adkeeper.com/how-works/">concept</a> is pretty simple: Web visitors click on ads they like, and store them in a digital locker so they can check them out later. Advertisers will pay AdKeeper a premium.</p>
<p>If it works, it could be huge, but that assumes consumers play along. More than that, really: AdKeeper expects consumers to <em>change their behavior</em>, and start embracing Web ads instead of ignoring them.</p>
<p>Google works brilliantly because it can show searchers relevant ads. But the overwhelming majority of Web surfers ignore conventional display ads &#8212; the kind that AdKeeper wants to work with. So who&#8217;s going to save ads they&#8217;re not looking at in the first place?</p>
<p>Kurnit&#8217;s short answer is that he expects marketers to start making ads people will want to hang on to. For a longer answer, check out this <a href="http://adage.com/digital/article?article_id=147691">AdAge</a> interview. He&#8217;s an excellent salesman, and does a good job of banishing the <a href="http://en.wikipedia.org/wiki/CueCat">CueCat</a> comparisons I keep thinking of. For now.</p>
<p>This is normally the part in a funding story where a startup talks about its impressive growth in users/traffic/ad impressions or <em>something</em>. But AdKeeper  can&#8217;t do any of that, because it&#8217;s not on any ads yet. Kurnit says that should happen by mid-February.</p>
<p>Instead, the company points to a long list of advertisers, like Pepsi and AT&amp;T, that have said they like the idea. It also points to market research it commissioned which it says shows a majority of Web users would like to save their ads.</p>
<p>And perhaps the company&#8217;s biggest selling point is Kurnit, who built About.com during the first Web boom and sold it to Primedia for $700 million in 2001. The company, a forerunner to Web story mills like Demand Media, ended up at the New York Times, where it still makes up a big chunk of the paper&#8217;s online business. And its success made Kurnit wealthy and well-respected.</p>
<p>How well-respected? Enough to round up endorsements from people who might not be convinced about AdKeeper, but like its CEO quite a bit.</p>
<p>Here&#8217;s the response I got from a member of Kurnit&#8217;s advisory board when I asked them to explain AdKeeper to me: &#8220;Not sure I get it myself. But I love Scott!&#8221;</p>
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		<title>The Men and No Women of Web 2.0 Boards (BoomTown&#039;s Talking to You: Twitter, Facebook, Zynga, Groupon and Foursquare)</title>
		<link>http://allthingsd.com/20101221/the-men-and-no-women-of-web-2-0-boards-boomtowns-talking-to-you-twitter-facebook-zynga-groupon-and-foursquare/</link>
		<comments>http://allthingsd.com/20101221/the-men-and-no-women-of-web-2-0-boards-boomtowns-talking-to-you-twitter-facebook-zynga-groupon-and-foursquare/#comments</comments>
		<pubDate>Tue, 21 Dec 2010 22:44:05 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=38810</guid>
		<description><![CDATA[Simply put: The five top Web 2.0 superstar companies have no women on their board of directors.

As in zero.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/12/our-gang.jpeg"><img src="http://kara.allthingsd.com/files/2010/12/our-gang-275x210.jpg" alt="" title="our gang" width="275" height="210" class="alignright size-medium wp-image-38826" /></a></p>
<p>In one memorable episode of the famous old short films &#8220;The Little Rascals,&#8221; after not getting invited to a party, the Our Gang little dudes decided to form their own group, comically called &#8220;The He-Man Woman-Haters Club.&#8221;</p>
<p>In other words: <em>No girls allowed!</em></p>
<p>While it was wink-wink cute when Spanky, Alfalfa and Buckwheat huffed and puffed about keeping out Darla&#8211;which they never ever could do&#8211;back in the last century, it&#8217;s not quite as adorkable when it comes to the boards of all the major Web 2.0 hotshots these days.</p>
<p>That would be Twitter, Facebook, Zynga, Groupon and Foursquare, none of which have any women as directors.</p>
<p>As in <em>zero</em>.</p>
<p>What&#8217;s most remarkable is that most of these start-ups are run by what I consider enlightened and open-minded entrepreneurs, mostly young enough to be part of a generation more inclined to value equality and diversity in the workplace.</p>
<p>In addition, each of these companies has a massive base of women consumers, in some cases well over 50 percent of its audience.</p>
<p>Thus, it would seem logical that in casting about for those to help guide these companies, one or two women leaders might slip in.</p>
<p>To be fair, it&#8217;s not for lack of trying, but of completion, as was the case with Twitter&#8217;s <a href="http://kara.allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/">recent addition of three new board members</a>.</p>
<p>They were longtime Silicon Valley exec Peter Currie, Flipboard CEO and co-founder Mike McCue and former DoubleClick leader David Rosenblatt.</p>
<p><a href="http://kara.allthingsd.com/files/2010/12/182.jpeg"><img src="http://kara.allthingsd.com/files/2010/12/182-380x97.jpg" alt="" title="182" width="380" height="97" class="aligncenter size-Medium380 wp-image-38827" /></a></p>
<p>All are deeply qualified for the Twitter board, which is obviously prepping for its next stage of growth and maturity.</p>
<p>But in its search, the San Francisco microblogging site did not manage to cast the net quite wide enough.</p>
<p>While sources said at least one prominent online woman exec was considered, there were some legitimate issues with her appointment, and it was not completed.</p>
<p>Still, one might imagine Twitter could have tried harder to find other workable choices.</p>
<p>Currently, the Twitter board is made up of the new trio, as well as Benchmark Capital&#8217;s Peter Fenton, Union Square Ventures&#8217; Fred Wilson, Bijan Sabet of Spark Capital, CEO Dick Costolo and co-founders Evan Williams and Jack Dorsey.</p>
<p>Things are not any better over at Facebook, which has several prominent women execs running the show, most especially its high-profile COO Sheryl Sandberg.</p>
<p>But, inexplicably, though she does attend board meetings, she is not yet a director of Facebook, nor is any other woman.</p>
<p>In fact, here is Sandberg on topic at a recent TED event for women, in an eloquent speech titled &#8220;Why We Have So Few Women Leaders&#8221;:</p>
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<p>Instead, the Facebook board is all men, all the time, composed of CEO and co-founder Mark Zuckerberg, prominent techie and venture capitalist Marc Andreessen, investor Peter Thiel, Accel Partners&#8217; Jim Breyer and Washington Post head Don Graham.</p>
<p>It is no better at three of the most prominent recent Web 2.0 start-ups, which one source attributes to the lack of woman VCs, who are often the first board members after major investment rounds.</p>
<p>At Zynga, the hot social gaming company in San Francisco, it continues, with an all-male board, despite a very heavily female audience for its casual social games.</p>
<p>That would be co-founder and CEO Mark Pincus, COO Owen Van Natta, investor Bing Gordon of Kleiner Perkins, investor Reid Hoffman and Brad Feld of the Foundry Group.</p>
<p>The same is true at woman-targeted&#8211;spas, spas and more spas&#8211;social buying site Groupon, which has an unusually large board for a start-up and made up of&#8211;as per usual&#8211;all men.</p>
<p><a href="http://kara.allthingsd.com/files/2010/12/cautionmenworking.gif"><img src="http://kara.allthingsd.com/files/2010/12/cautionmenworking-275x195.gif" alt="" title="cautionmenworking" width="275" height="195" class="alignleft size-medium wp-image-38828" /></a></p>
<p>The list: Co-founder and CEO Andrew Mason, Accel Partners&#8217; Kevin Efrusy, former AT&#038;T President and COO John Walter, New Enterprise Associates&#8217; Harry Weller and Peter Barris, former AOL exec Ted Leonsis, 37Signals co-founder Jason Fried and early investors Eric Lefkofsky and Brad Keywell.</p>
<p>And, much smaller, is Foursquare&#8217;s board, which is the trio of co-founder and CEO Dennis Crowley, co-founder Naveen Selvadurai and Union Square Ventures&#8217; Albert Wenger.</p>
<p>New investors&#8211;Ben Horowitz of Andreessen Horowitz and O&#8217;Reilly AlphaTech Ventures&#8217; Bryce Roberts&#8211;have observer status and both are, needless to say, dudes.</p>
<p>There is no question it is tough to make sure there is a good balance of qualified women leaders to men in tech&#8211;it is an issue we wrestle with every single year for the program of speakers at our own <strong>All Things Digital</strong> conference, although we are most excellent on this issue on our Web site and conference staff.</p>
<p>But it can be done, especially at public tech companies. Google has two women on its board of nine directors; Yahoo has three of 10; even Oracle has two of a dozen.</p>
<p>But a grand total of zero at the leading companies of Web 2.0 is not just a coincidence.</p>
<p>It&#8217;s a shame.</p>
<p>Tomorrow, BoomTown will post a list of great women who would be superb directors for any of these companies, but until then, let&#8217;s not follow in Spanky&#8217;s steps:</p>
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]]></content:encoded>
			<wfw:commentRss>http://allthingsd.com/20101221/the-men-and-no-women-of-web-2-0-boards-boomtowns-talking-to-you-twitter-facebook-zynga-groupon-and-foursquare/feed/</wfw:commentRss>
		<slash:comments>60</slash:comments>
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		<title>Tumblr Counts Its Money&#8211;$30 Million of New Funding</title>
		<link>http://allthingsd.com/20101217/tumblr-counts-its-money-30-million-of-new-funding/</link>
		<comments>http://allthingsd.com/20101217/tumblr-counts-its-money-30-million-of-new-funding/#comments</comments>
		<pubDate>Sat, 18 Dec 2010 03:36:53 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=27208</guid>
		<description><![CDATA[Prompted by an SEC filing, Tumblr finally fesses up about its big funding round, which we noted a month ago. The final numbers: Sequoia, Spark and Union Square Ventures put in $30 million, for a post-money valuation of $155 million.]]></description>
			<content:encoded><![CDATA[<p>Prompted by an SEC filing, <a href="http://techcrunch.com/2010/12/17/confirmed-tumblr-raises-25-million/">Tumblr finally fesses up</a> about its big funding round, which<a href="http://mediamemo.allthingsd.com/20101119/tumblr-falls-into-a-really-big-pile-of-money/"> we noted a month ago</a>. The final numbers: Sequoia, Spark and Union Square Ventures put in $30 million, for a post-money valuation of $155 million.</p>
]]></content:encoded>
			<wfw:commentRss>http://allthingsd.com/20101217/tumblr-counts-its-money-30-million-of-new-funding/feed/</wfw:commentRss>
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		<title>Q: Why No Twitter Board Seat for Kleiner&#039;s John Doerr? A: His Google Board Seat (Plus, Is the Star VC Looking at Spotify and Groupon Next?)</title>
		<link>http://allthingsd.com/20101216/q-why-no-twitter-board-seat-for-kleiners-john-doerr-a-his-google-board-seat-plus-is-the-star-vc-looking-at-spotify-and-groupon-next/</link>
		<comments>http://allthingsd.com/20101216/q-why-no-twitter-board-seat-for-kleiners-john-doerr-a-his-google-board-seat-plus-is-the-star-vc-looking-at-spotify-and-groupon-next/#comments</comments>
		<pubDate>Thu, 16 Dec 2010 13:14:41 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=38683</guid>
		<description><![CDATA[Star venture capitalist John Doerr of Kleiner Perkins paid $150 million for a stake in Twitter and all he didn't get was a board seat.

That's due to another directorship he has at search giant Google.

Maybe Doerr will get one at Spotify or Groupon, where he could be investing next.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/12/John-Doerr3.jpeg"><img src="http://kara.allthingsd.com/files/2010/12/John-Doerr3-217x300.jpg" alt="" title="John Doerr3" width="217" height="300" class="alignright size-medium wp-image-38685" /></a></p>
<p>Yesterday, star venture capitalist John Doerr of Kleiner Perkins <a href="http://kara.allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/">forked over $150 million in funding</a> to Twitter.</p>
<p>At at $3.7 billion valuation, that got him a big chunk of the San Francisco microblogging site.</p>
<p>But what it didn&#8217;t get him was a seat on the board of Twitter, which many figured he would be given for after handing over so much moolah.</p>
<p>According to sources familiar with the situation, that&#8217;s due to Doerr&#8217;s being a director on another board: Google.</p>
<p>Several sources who BoomTown spoke to, after breaking news of the massive funding, said that his being on the board of the search giant was seen as too much of a conflict of interest.</p>
<p>A conflict because Google has plans to wade deeply into the social space. And also, of course, because it is the No. 1 potential acquirer of Twitter, as the Silicon Valley company seeks to gather more tools to fight its latest rival, Facebook.</p>
<p>Doerr has very deep ties at Google, having been on its board since mid-1999.</p>
<p>He got that seat, along with Sequoia Capital&#8217;s Mike Moritz, after he ponied up a <a href="http://www.google.com/press/pressrel/pressrelease1.html">critical $25 million equity round</a> for Google in June of that year.</p>
<p>Interestingly, no other Kleiner partner was named to a Twitter board seat either.</p>
<p>But, some speculate, it might make sense for <a href="http://kara.allthingsd.com/20101129/hire-like-its-1999-kleiners-doerr-finally-lands-meeker-after-11-years-of-trying-and-its-about-time/">Mary Meeker</a>&#8211;who just joined Kleiner to head up digital investing efforts, after a long-time stint as a Wall Street analyst for Morgan Stanley&#8211;to eventually become a Twitter director.</p>
<p><a href="http://kara.allthingsd.com/files/2010/11/prince-meeker-doerr-v2.jpg"><img src="http://kara.allthingsd.com/files/2010/11/prince-meeker-doerr-v2-275x151.jpg" alt="" title="prince-meeker-doerr-v2" width="275" height="151" class="alignleft size-medium wp-image-37765" /></a></p>
<p>Meeker has, of course, deep IPO and M&#038;A experience.</p>
<p>And, frankly, after adding Flipboard&#8217;s Mike McCue and former DoubleClick exec David Rosenblatt yesterday and former Netscape exec Peter Currie recently to its all-boy board band, a woman director might be a good idea to consider.</p>
<p>Other directors at Twitter include Benchmark Capital&#8217;s Peter Fenton, Union Square Venture&#8217;s Fred Wilson, Bijan Sabet of Spark Capital, Co-founders Evan Williams and Jack Dorsey and CEO Dick Costolo.</p>
<p>I reached out to Doerr for a comment, but he has not yet replied; Twitter declined to comment.</p>
<p>Even more interesting to consider is what Kleiner will invest in next after this mega-funding, given how <a href="http://kara.allthingsd.com/20101206/russias-dst-out-of-twitter-funding-race-as-kleiner-poised-to-take-the-deal/">aggressively many sources said Doerr had pushed</a> to lead the Twitter round.</p>
<p>And, in fact, sources said that Kleiner is looking closely at new funding rounds for both the Spotify music streaming service and Groupon, the social buying start-up that recently decided to <a href="http://kara.allthingsd.com/20101203/breaking-groupongoogle-talks-end">turn down a $6 billion acquisition offer</a> from Google and an earlier $3 billion one from Yahoo.</p>
<p>Groupon is now seeking more funds to remain independent and hold onto its lead in the fast-growing local discounting market, sources said.</p>
<p>(<a href="http://www.bloomberg.com/news/2010-12-16/groupon-said-to-seek-new-funding-after-rebuffing-google-s-6-billion-offer.html">Bloomberg</a> also reported on Groupon&#8217;s new fundraising efforts, although it was written about after it turned down the Google offer.)</p>
<p>And Spotify, which is hugely popular outside the U.S., is trying to enter this market, but needs more funding to expand and perhaps strike better deals with music labels.</p>
<p><a href="http://kara.allthingsd.com/files/2010/12/denied.gif"><img src="http://kara.allthingsd.com/files/2010/12/denied-275x275.gif" alt="" title="denied" width="225" height="225" class="alignright size-medium wp-image-38693" /></a></p>
<p>Both are the just the kind of companies Doerr has targeted in what looks like a serious effort to compete with other firms&#8211;especially Andreessen Horowitz and Russia&#8217;s DST Global.</p>
<p>They have garnered the heat Kleiner used to have, largely by backing more of the top entrepreneurs recently.</p>
<p>Doerr has already put money into social gaming phenom Zynga and also started an <a href="http://kara.allthingsd.com/20101021/liveblogging-unveiling-of-the-sfund-at-facebook-with-guest-stars-kleiner-amazon-and-zynga/">sFund</a> for social-focused investments.</p>
<p>Add Twitter to the pile and you can see where this is headed: Except for the board seat, John Doerr will <em>no</em> longer be denied.</p>
]]></content:encoded>
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		<title>Exclusive: Twitter Raises $200 Million at a $3.7 Billion Valuation; Adds McCue and Rosenblatt to Board</title>
		<link>http://allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/</link>
		<comments>http://allthingsd.com/20101215/exclusive-twitter-raises-200-million-at-3-7-billion-valuation-adds-mccue-and-rosenblatt-to-board/#comments</comments>
		<pubDate>Wed, 15 Dec 2010 20:15:48 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=38535</guid>
		<description><![CDATA[Twitter has completed its latest round of funding--$200 million at a $3.7 billion valuation--with Kleiner Perkins as the lead investor.

The San Francisco microblogging service is also adding two new board members: Flipboard's Mike McCue and former DoubleClick head David Rosenblatt.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/12/images.jpeg"><img src="http://kara.allthingsd.com/files/2010/12/images.jpeg" alt="" title="images" width="204" height="247" class="alignright size-full wp-image-38628" /></a></p>
<p>Twitter has completed its latest round of funding&#8211;$200 million at a $3.7 billion valuation&#8211;with Kleiner Perkins as the lead investor, according to sources familiar with the situation.</p>
<p>Sources said the San Francisco microblogging service is also adding two new board members: Flipboard&#8217;s Mike McCue and David Rosenblatt, who ran DoubleClick until a bit after it sold to Google.</p>
<p>Twitter recently added former Netscape exec Peter Currie to the board, as BoomTown <a href="http://kara.allthingsd.com/20101201/silicon-valley-go-to-guy-peter-currie-to-join-twitter-board">previously reported</a>.</p>
<p>A Twitter spokesman confirmed the funding and the board appointments, but declined further comment.</p>
<p>The moves are big ones for Twitter, which is moving fast to upgrade its management and business model under CEO Dick Costolo, who just <a href="http://blog.twitter.com/2010/12/stocking-stuffer.html">posted a blog</a> (see below) on the new funding and directors, titled &#8220;Meaningful Growth (although it was first curiously called, &#8220;Stocking Stuffers,&#8221; and was much funnier).</p>
<p>But, indeed, a big slug of cash will surely help the start-up&#8217;s expansion efforts and essentially declares it is not for sale to bigger companies such as Google (quite yet, that is).</p>
<p>As I <a href="http://kara.allthingsd.com/20101206/russias-dst-out-of-twitter-funding-race-as-kleiner-poised-to-take-the-deal/">reported last week</a>, Kleiner partner John Doerr has been pushing hard to fund Twitter, beating out Russia&#8217;s DST Global.</p>
<p>Kleiner is the only new investor in the latest round, which brings its funding total to $360 million since it was founded about five years ago.</p>
<p>The storied Silicon Valley venture firm, which has been aggressively moving into the Web 2.0 space of late, put in $150 million, with the remaining $50 million coming from existing investors.</p>
<p>Past investors include Benchmark Capital, Union Square Ventures, Spark Capital and several other venture firms and angel investors.</p>
<p>Adding Currie, McCue and Rosenblatt are very strong choices for the board. Currie has deep financial and IPO experience, McCue is a well-connected and innovative entrepreneur and Rosenblatt brings much-needed online advertising heft.</p>
<p>As it happens, <a href="http://kara.allthingsd.com/20101215/dces-what-happens-to-twitters-dick-costolo-in-vegas-stays-on-atd/">Costolo will appear at our D@CES</a> event in January, where I am interviewing him and we can talk about all the changes.</p>
<p>(Thank goodness the funding is done, since I was worried about all those awkward pauses.)</p>
<p>Here is new version of <a href="http://blog.twitter.com/2010/12/stocking-stuffer.html">Costolo&#8217;s blog post</a> on McCue and Rosenblatt (the old one is below it for you to compare and contrast):</p>
<blockquote class="memo"><p><strong>Meaningful Growth</strong></p>
<p>In the past 12 months, Twitter users sent an astonishing 25 billion Tweets and we added more than 100 million new registered accounts. In that time, our team has grown from 130 people to more than 350 today. We&#8217;re thankful for every Tweet, every account, and every talented employee who has decided to join the Twitter team. This week, we&#8217;ve got some big news to share.</p>
<p>As part of a significant new round of funding with investor Kleiner Perkins Caufield Byers and existing investors, we&#8217;ve added two new members to Twitter&#8217;s board of directors. Please join us in welcoming Mike McCue and David Rosenblatt. The experience these new directors bring to Twitter, along with this renewed investment, will help us continue to grow as a company and business.</p>
<p>2010 was one of the most meaningful years since Twitter, Inc. was founded in 2007. We operate on a principle that people are basically good&#8211;when you give them a simple way to express this trait, they prove it to you every day. We&#8217;re proud of what Twitter users have accomplished, we&#8217;re proud of our work, and we&#8217;re very proud of our team. Thanks for being a part of this work; it means a lot to us.</p></blockquote>
<blockquote class="memo"><p><strong>Stocking Stuffer</strong></p>
<p>Growth is fun. In the past 12 months, Twitter users sent an astonishing 25 billion Tweets and we added more than 100 million new registered accounts. In that time, our team has grown from 130 people to more than 350 today.</p>
<p>This week, we added two new members to Twitter&#8217;s board of directors who have strong experience running technology companies: Mike McCue and David Rosenblatt. Mike was the CEO of Tellme Networks, is currently CEO at Flipboard and also worked for Netscape and Microsoft (which acquired Tellme in 2007). David is the former CEO of DoubleClick and an ex-Google executive.</p>
<p>We also closed a significant new round of funding, with new investor Kleiner Perkins Caulfield Byers leading the round. KPCB brings to Twitter a track record of helping build great companies, ranging from Amazon to Zynga (get it? A to Z? See how we did that?), and a team with expertise in Internet, mobile and social platforms. The additional resources and expertise will be extremely helpful as Twitter continues to grow as a company and business.</p>
<p>Thank you to Twitter users everywhere for making 2010 such a good year.</p></blockquote>
]]></content:encoded>
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		<title>Exclusive: Silicon Valley Go-To Guy Peter Currie Joining Twitter Board</title>
		<link>http://allthingsd.com/20101201/silicon-valley-go-to-guy-peter-currie-to-join-twitter-board/</link>
		<comments>http://allthingsd.com/20101201/silicon-valley-go-to-guy-peter-currie-to-join-twitter-board/#comments</comments>
		<pubDate>Wed, 01 Dec 2010 11:53:56 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=37832</guid>
		<description><![CDATA[According to sources close to the situation, well-known Silicon Valley power player Peter Currie is joining the board of directors of Twitter.

It's an interesting choice to bring the well-regarded moneyman to the microblogging start-up, and could indicate an intent to push to an IPO eventually.

With much hot start-up experience, Currie is also suited to helping Twitter sort through its current funding round.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2009/04/picture-2091.jpg"><img src="http://kara.allthingsd.com/files/2009/04/picture-2091.jpg" alt="picture-2091" title="picture-2091" width="197" height="150" class="alignright size-full wp-image-11522" /></a></p>
<p>According to sources close to the situation, well-known Silicon Valley power player Peter Currie is joining the board of directors of Twitter.</p>
<p>It&#8217;s an interesting choice to bring the well-regarded moneyman to the microblogging start-up, and could indicate an intent to push to an IPO eventually.</p>
<p>As <a href="http://networkeffect.allthingsd.com/20101129/twitters-buffet-of-options-investors-like-dst-or-acquirers-like-google/">first reported by NetworkEffect&#8217;s Liz Gannes</a> earlier this week, Twitter is now considering funding offers from big venture funds, specifically Russia&#8217;s DST Global and Silicon Valley&#8217;s Kleiner Perkins, as well as fielding incoming acquisition interest from Google and Facebook.</p>
<p>Currie should know about this kind of noisy swirl around a hot start-up.</p>
<p>Back in the heyday of Web 1.0, as the CFO of Netscape Communications, he led the iconic browser software company into history, as the first great Internet rocket ship, when it went public on August 9, 1995.</p>
<p>While the Netscape experience ended in tears, Currie&#8217;s career has not, and he has become a kind of go-to elder statesman in the Web 2.0 era.</p>
<p>A year ago, for example, he joined <a href="http://kara.allthingsd.com/20090401/meet-peter-currie-facebooks-new-money-man-for-now/">Facebook as its temporary CFO</a>.</p>
<p>That <a href="http://kara.allthingsd.com/20090331/former-netscape-cfo-peter-currie-will-be-new-facebook-financial-adviser-until-new-cfo-is-found/">move came after the social networking site</a>, in a bit of turmoil, <a href="http://kara.allthingsd.com/20090331/facebook-cfo-gideon-yu-out-fast-growing-social-network-says-its-doing-fine-financially/">parted ways with its then CFO</a>, Gideon Yu, following mutual disagreements.</p>
<p>Indeed, Currie plays the calm, collected wise man well.</p>
<p>Unusually tall, aggressively avuncular and laid-back, he loves Elvis and enjoys pranking reporters like BoomTown.</p>
<p>(Case in point: Back in the day, he spread the rumor around Silicon Valley that I was short due to a medical condition.)</p>
<p>Now the president of Currie Capital, a private investment firm, he had previously worked at General Atlantic in private equity.</p>
<p>After Netscape, he was a partner and co-founder of the Barksdale Group, an early-stage (and ill-fated) venture capital firm.</p>
<p>Before Netscape, he was CFO of McCaw Cellular Communications and also worked at Morgan Stanley.</p>
<p>Currie is also board-happy, serving as a director of a variety of tech firms, private and public, which have had varying degrees of success.</p>
<p>They have included CNET, Critical Path, Clearwire, Safeco, Ofoto, Tellme Networks and Zantaz, as well as Sun Microsystems.</p>
<p>He has an MBA from Stanford University and went to Williams College.</p>
<p>In other words, just the kind of pedigree needed to give some additional burnish to the Twitter board, which now includes Fred Wilson of Union Square Ventures, Spark Capital&#8217;s Bijan Sabet, Benchmark Capital&#8217;s Peter Fenton, co-founder and former CEO Evan Williams, co-founder Jack Dorsey and CEO Dick Costolo.</p>
<p>Apparently, it&#8217;s time to toss another dude in there!</p>
]]></content:encoded>
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		<title>The Anti-EBay? Yardsellr Closes $5 Million Series A Round</title>
		<link>http://allthingsd.com/20101122/yardsellr-closes-5-million-series-a-round/</link>
		<comments>http://allthingsd.com/20101122/yardsellr-closes-5-million-series-a-round/#comments</comments>
		<pubDate>Mon, 22 Nov 2010 15:00:07 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=37580</guid>
		<description><![CDATA[Yardsellr is announcing today that it has closed a $5 million Series A funding round led by Accel Partners.

Harrison Metal, which is run by investor Michael Dearing and gave the social listings and transactions site seed financing last year, also participated in the round.

Yardsellr says it uses "social plumbing to power all interactions between buyers and sellers, although users create listings and consummate transactions."

Welcome to eBay, Facebook-style!]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2010/11/Yardsellr.png"><img src="http://kara.allthingsd.com/files/2010/11/Yardsellr-275x107.png" alt="" title="Yardsellr" width="275" height="107" class="alignright size-medium wp-image-37587" /></a></p>
<p>Yardsellr is announcing today that it has closed a $5 million Series A funding round led by Accel Partners.</p>
<p>Harrison Metal, which is run by investor Michael Dearing and gave the social listings and transactions site seed financing last year, also participated in the round.</p>
<p><a href="http://yardsellr.com/">Yardsellr</a> says it uses &#8220;social plumbing to power all interactions between buyers and sellers, although users create listings and consummate transactions.&#8221;</p>
<p>Welcome to eBay, Facebook-style!</p>
<p>Online shopping with a social element is starting to boom, at least in terms of financings.</p>
<p>Earlier today, Svpply&#8211;a social retail discovery site stocked with stuff you and your friends think are cool&#8211;<a href="http://mediamemo.allthingsd.com/20101122/svpply-is-a-social-shopping-site-with-a-funny-name-good-buzz-and-a-new-funding-round/">got a $550,000 seed round</a> investment led by Spark Capital and Founder Collective, along with high-profile angels like Ron Conway, Foursquare co-founder Dennis Crowley and former Myspace co-President Jason Hirschhorn.</p>
<p>And Topguest, a check-in loyalty service that was founded just five months ago, announced last week that it <a href="http://kara.allthingsd.com/20101115/topguest-checks-in-with-2-million-series-a-round-and-peter-thiel-as-advisor/">nabbed $2 million in Series A funding</a>, as well as nabbing well-known Facebook investor Peter Thiel as an adviser.</p>
<p>Yardsellr takes yet another social tack, organizing the Internet shopping experience around &#8220;Blocks&#8221;&#8211;using the traditional neighborhood yard sale as an analog inspiration for innovation.</p>
<p>Blocks are micro-communities of people interested in the same products, determined via social networking, specifically following them on Twitter or liking them on Facebook.</p>
<p>Founder Daniel Leffel said in an email that it was better to organize this way  &#8220;instead of categories, because categories organize products while Blocks organize people.&#8221;</p>
<p>Then, he said, when sellers list items, for free, they go out into the feeds of members who have joined the relevant blocks. Sellers can then buy additional traffic to their listings.</p>
<p>Yardsellr also handles payments for sales, with the buyer paying a small transaction fee.</p>
<p>That&#8217;s opposite from eBay, where Leffel once worked. Several former eBay execs are also working at the start-up.</p>
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		<title>Svpply Is a Social Shopping Site With a Funny Name, Good Buzz and a New Funding Round</title>
		<link>http://allthingsd.com/20101122/svpply-is-a-social-shopping-site-with-a-funny-name-good-buzz-and-a-new-funding-round/</link>
		<comments>http://allthingsd.com/20101122/svpply-is-a-social-shopping-site-with-a-funny-name-good-buzz-and-a-new-funding-round/#comments</comments>
		<pubDate>Mon, 22 Nov 2010 12:00:21 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=26171</guid>
		<description><![CDATA[It's Tumblr meets Amazon! Svpply is a shopping site for stuff you want your friends to know you own, or at least that you'd like to own. Which could be a very good idea--good enough that several start-ups are taking a crack at it.]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2010/11/svpply_11.jpg"><img class="alignright size-medium wp-image-26185" title="svpply_1" src="http://mediamemo.allthingsd.com/files/2010/11/svpply_11-275x253.jpg" alt="" width="250" height="230" /></a>One thing the first Web boom got right: Amazon, eBay and the other big e-commerce sites that made it really easy to buy stuff on the Internet.</p>
<p>But those sites are efficient places to get the things you <em>know</em> you want. They&#8217;re not good at finding cool stuff you didn&#8217;t know you wanted. The way that catalogs used to do, or that your friends still do.</p>
<p>This is the problem that <a href="http://svpply.com/">Svpply</a> is supposed to solve: It&#8217;s a social, online retail &#8220;discovery&#8221; site stocked with stuff you and your friends think are cool. Simple, right?</p>
<p>That&#8217;s the pitch, at least. And it&#8217;s been enough to get the year-old company a $550,000 seed-round investment led by Spark Capital and Founder Collective, along with high-profile angels like Ron Conway, Foursquare co-founder Dennis Crowley and former Myspace co-President Jason Hirschhorn.</p>
<p>One reason the company gets a warm reception: It boasts Founder Collective&#8217;s <a href="http://foundercollective.com/people/Zach-Klein">Zach Klein</a> as a co-founder. Klein, who helped start College Humor and later Vimeo, still has a day job as chief product officer at Boxee. But last spring he connected with <a href="http://pieratt.com/">Ben Pieratt</a>, a Boston-based designer who started Svpply in late 2009.</p>
<p>If you take a look at Svpply (you pronounce it &#8220;Supply,&#8221; but the V is supposed to make it look Roman and/or cool), you&#8217;ll figure it out right away.</p>
<p>But in case you don&#8217;t click over: Using a browser-based &#8220;bookmarklet&#8221; (a la <a href="http://www.instapaper.com/u">Instapaper</a>), you tag images of stuff you own or like, along with a link that tells people where to buy it. And you look at images that your friends, or people you&#8217;d like to be your friends, have tagged, too. Apps for Apple&#8217;s iPhone and Google&#8217;s Android platform are on the way.</p>
<p>When you do head over to Svpply, you&#8217;ll find that both the images and the stuff they depict are probably better-looking than you are. And while the company&#8217;s founders won&#8217;t come out and say it, that&#8217;s sort of intentional. Svpply is supposed to exude the same sort of digital cool, and attract the same kind of early adopters, that social Web hits like Twitter, Tumblr and Foursquare did.</p>
<p><a href="http://mediamemo.allthingsd.com/files/2010/11/svpply_21.jpg"><img class="alignleft size-medium wp-image-26178" title="svpply_2" src="http://mediamemo.allthingsd.com/files/2010/11/svpply_21-275x228.jpg" alt="" width="200" height="165" /></a></p>
<p>And like those networks, Svpply is based around the activity feed/stream concept&#8211;you can follow a few people or a lot of people. And if you don&#8217;t have anything cool to add yourself, that&#8217;s okay too.</p>
<p>The main thing is that everything there is supposed to be interesting and, well, cool. Anyone can set up shop at Svpply and show off their stuff, but if no one likes it, no one likes it. As Pieratt puts it: &#8220;People are very sensitive to being sold to.&#8221;</p>
<p>Of course, the reason people are funding Svpply is because it has such obvious potential for selling&#8211;by designers, by brands, by retailers, etc.</p>
<p>Which may be why it&#8217;s not the only start-up taking this approach. Poke around and you&#8217;ll see several sites doing something similar: <a href="http://pinterest.com/">Pinterest</a>, <a href="http://www.wanelo.com/index.action">Wanelo</a>, etc.</p>
<p>One particularly notable competitor: <a href="http://www.thefancy.com/">Fancy</a>, a project from <a href="http://www.thingd.com/">ThingD</a>, the semi-mysterious <a href="http://www.observer.com/2010/media/creating-facebook-stuff">&#8220;Facebook of Stuff&#8221;</a> that has super-high profile backers like Allen &amp; Co. and is generating a lot of attention from Silicon Valley&#8217;s deal guys.</p>
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		<title>Tumblr Falls Into a Really Big Pile of Money</title>
		<link>http://allthingsd.com/20101119/tumblr-falls-into-a-really-big-pile-of-money/</link>
		<comments>http://allthingsd.com/20101119/tumblr-falls-into-a-really-big-pile-of-money/#comments</comments>
		<pubDate>Fri, 19 Nov 2010 18:39:40 +0000</pubDate>
		<dc:creator>Peter Kafka</dc:creator>
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		<guid isPermaLink="false">http://mediamemo.allthingsd.com/?p=26101</guid>
		<description><![CDATA[Sequoia leads a giant round that could value the company at more than $140 million. Whatever the final number is, it's a lot. So it's either too much for a company that still doesn't generate real revenue, or a bargain for a company that's growing like gangbusters. Place your bets!]]></description>
			<content:encoded><![CDATA[<p><a href="http://mediamemo.allthingsd.com/files/2010/11/david-karp-new.jpg"><img class="alignright size-medium wp-image-26103" title="david karp new" src="http://mediamemo.allthingsd.com/files/2010/11/david-karp-new-275x183.jpg" alt="" width="250" height="166" /></a>Tumblr, the super-hot blogging service, has finished up a <a href="http://www.businessinsider.com/tumblr-sequoia-funding-2010-11">very, very big funding round</a> that&#8217;s going to put the company&#8217;s value well above $100 million.</p>
<p><a href="http://finance.fortune.cnn.com/2010/11/19/tumblr-dives-into-a-boatload-of-money/">Fortune.com&#8217;s Dan Primack</a> reports that Sequoia is leading a round that will add &#8220;between $25 million and $30 million&#8221; in funding at a valuation &#8220;in the ballpark of $135 million.&#8221;</p>
<p>Someone familiar with the transaction tells me that Primack&#8217;s numbers are &#8220;not a bad guess.&#8221; And it&#8217;s possible the numbers will end up somewhere higher than his report. Another source tells me that the round will end up bringing in between $20 million and $30 million, at a pre-money valuation of $120 million. That would put Tumblr&#8217;s value at $140 million or more.</p>
<p>In any case, it&#8217;s a lot of money. And as wise <a href="http://gigaom.com/2010/11/09/repeat-after-me-investors-are-never-the-story/">Om Malik</a> says, &#8220;Investors are never the story.&#8221; (Except when they are. And what&#8217;s really relevant here is that at these prices, the list of potential Tumblr acquirers gets much smaller: Google, sure.  Facebook, perhaps. Yahoo, theoretically, etc.)</p>
<p>The real story for Tumblr remains the one we&#8217;ve asked every other time the company has raised money (<a href="http://mediamemo.allthingsd.com/20081211/who-said-web-20-was-rip-microblog-tumblr-raises-45-million-expectations/">$4.5 million in 2008</a>; <a href="http://mediamemo.allthingsd.com/20100420/tumblr-raises-another-5-million-from-spark-and-union-square-now-it-wants-your-money/">$5 million earlier this year</a>): How&#8217;s it going to <em>make</em> money? Founder <a href="http://www.davidslog.com/1591283761/biiiiiiiig-pimpin-at-the-nyse-does-anyone-know">David Karp</a> has offered several different ideas in the past, but as far as I can tell, none of them have really taken off (the fact that big publishers like Newsweek now maintain Tumblr sites, which are free to set up, does not constitute a business).</p>
<p>Best I can tell, the real appeal for Tumblr is its go-go growth, and the fact that it&#8217;s doing it on a very light footprint. But don&#8217;t take my word for it: Ask <a href="http://bijansabet.com/post/1600581075/a-look-back-at-the-early-days-of-tumblr">Spark Capital&#8217;s Bijan Sabet</a> and <a href="http://www.avc.com/a_vc/2010/11/self-expression-matters.html">Union Square Ventures&#8217; Fred Wilson</a>, who have been the primary investors in the company to date and who both wrote glowingly about the company in recent days.</p>
<p>Presumably, the company&#8217;s pitch to investors went something like this: &#8220;Look at <a href="http://techcrunch.com/2010/11/12/tumblr-1540-percent-pageview-growth/">our hockey stick</a>! Hockey sticks like this only come around a few times a lifetime&#8211;<a href="http://mediamemo.allthingsd.com/20090415/twitters-astonishing-hockey-stick/">perhaps you&#8217;ve heard of Twitter</a>?&#8221; That is: <em>Buy now, and we&#8217;ll figure out money later.</em></p>
<p>And it looks like it worked.</p>
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