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Thursday, July 7, 2011

CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation

Seth Goldstein Billy Chasen TurnTable

We read earlier today that group music/DJ site Turntable.fm was raising a multi-million-dollar round.

After speaking with sources involved in the financing, we can confirm that term sheets were indeed signed yesterday (the deal is so fresh the money has yet to hit Turntable.fm's bank account).

Turntable.fm raised $7.5 million at a $37.5 million valuation.

All of the initial investors are in on the round, plus one additional investor. They're excited by Turntable.fm's rapid growth and potential.

First Round Capital principal and Turntable.fm investor Charlie O'Donnell recently tweeted, "If Turntable.fm asked me to pay a subscription to take it mobile... I'd do it in a heartbeat."

The startup has been the talk of New York City since it launched two months ago from the ashes of failed company, StickyBits. We wrote about it last month as one of the hot 25 NYC startups you needed to watch.

Now the music startup has 300,000+ users who include prominent venture capitalists like Bijan Sabet and Fred Wilson, as well as DJ Sir Mix-A-Lot of "Baby Got Back" infamy.

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CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation

Backlink: http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/UqrY03qnfkg/turntablefm-rumored-to-be-raising-5-10-million-at-a-40-million-valuation-2011-7

Thursday, June 9, 2011

Coupons.com Just Raised $200 Million At A $1 Billion Valuation

Steven Boal

Coupons.com just raised $200 million at a $1 billion valuation, TechCrunch reports.

The company is not a Groupon clone but instead does traditional, albeit online coupons, which is the fastest-growing segment of the industry.

It helps big companies build and distribute their coupons online, which is a very complex business.

The company, founded in 1998, is a dotcom bubble-and-burst survivor, which is impressive in and of itself. The company said that it's projecting $100 million revenue this year; depending on growth and profits, this makes a 10X revenue valuation probably reasonable.

The money came from unspecified "institutional investors"--probably crossover buyers like T. Rowe Price and other mutual funds that occasionally buy stock in private companies in the expectation that they'll eventually go public.

Here's the full release.

Don't Miss: The 10 Huge Tech IPOs Coming This Year →

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Coupons.com Just Raised $200 Million At A $1 Billion Valuation

Backlink: http://feedproxy.google.com/~r/typepad/alleyinsider/silicon_alley_insider/~3/p_da6mER0lI/coupons-com-billion-dollar-valuation-2011-6

Wednesday, May 25, 2011

Om Malik: This Is Why GigaOm Raised $6 Million More

om malik by thomas hawk

In a Skype interview at TechCrunch Disrupt, Om Malik, founder of GigaOm, discussed his company's recent $6 million round.

"We are building a more analysis and research-driven business with a totally different point of view [from a blog like TechCrunch]. We're going away from the whole page view model and focusing on paid content," he says.

He says the company is not pivoting because the advertising-based content model online is dying. Rather, the paid content model compliments it.

When asked if Om felt he had one-upped Mike Arrington, Om replied: "No...kumbaya."

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