Digg raised a $5 million-ish inside round.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
Digg raises a $5 million-ish inside round.
Showing posts with label round. Show all posts
Showing posts with label round. Show all posts
Tuesday, July 12, 2011
Thursday, July 7, 2011
CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation
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.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
See Also:
- Can This Startup Beat IBM, Microsoft, SAP And Oracle?
- Travel Site Ostrovok Is Launching Next Week With $13 Million From Accel and General Catalyst
- How Groupon Is Like Google And Why Recruiting Is A Nightmare Now
CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation
Thursday, May 5, 2011
Mobile Ad Network Jumptap Closes $25 Million Funding Round
As we reported a month ago, mobile ad network JumpTap has raised a round of new funding. The company confirmed this today, announcing a $25 million financing round from AllianceBernstein, General Catalyst, Redpoint Ventures, Summerhill Ventures, Valhalla Partners and WPP, as well as several new investors, who are not being disclosed. This brings the company's funding to over $90 million.
JumpTap is one of the largest remaining independent mobile advertising networks, in addition to Millennial Media, 4INFO, InMobi and others (another remaining network Greystripe was just acquired). Jumptap’s data-driven technology promises highly targeted advertising and the company partners with digital and media agencies, publishers, wireless carriers and brand advertisers to serve an array of mobile advertising solutions.
Mobile Ad Network Jumptap Closes $25 Million Funding Round
Backlink: http://feedproxy.google.com/~r/Techcrunch/~3/ma1ZYEqLiLc/
Monday, May 2, 2011
6-Month-Old Startup Lot18 Closes $10 Million Series B Round
Last week we told you New York-based startup Lot18 was already doing $1 million+ in sales.
Investors seem to be impressed with that figure, because the wine flash sales site just raised a $10 million Series B round.
It took two months to round up the cash; investors include NEA Ventures and FirstMark Capital, which led the Series A round.
"When we launched in mid-November, we originally said that we would start raising the B round when we had our first million-dollar month," cofounder Kevin Fortuna tells us. "We thought that would be later this year."
"The revenue numbers blew past expectations from the day we launched [on November 10]. November was a half month and we did $80,000 in sales. Based on the February numbers we saw, we knew March would be a million-dollar month, and April was way bigger than that."
Fortuna says Lot18 will use the money to grow its 60-person staff. It's hiring 35+ positions and is mostly looking for engineers and designers. To accommodate everyone, Lot18 will put money toward a larger office.
Another portion of the money will be dedicated to developing an excellent experience for both customers and wine partners. It will also be spent launching other sales categories.
"We’re going to be investing in other merchandising opportunities for wine, but wine will stay our main focus," Fortuna tells us. He mentions wine accessories and liquor sales are likely in the near future. The travel category is another thought.
Fortuna says he expects Lot18 to be profitable one year from now. Then again, at the rate Lot18 is growing (50,000+ new users per month), profitability could come much sooner than that.
For the latest tech news, visit SAI: Silicon Alley Insider. Follow us on Twitter and Facebook.
Join the conversation about this story »
See Also:
- Accel Leads $35 Million Round For Design Marketplace, 99Designs
- Digg Founder's No-Product Startup Raises Big Round From Silicon Valley Royalty
- OF COURSE Dropbox Is Going To Kill A Program That Turns It Into Bittorrent
6-Month-Old Startup Lot18 Closes $10 Million Series B Round
Thursday, March 24, 2011
How The #*&% Did Color Raise A Crazy $41 Million For Its First Round?
An iPhone photo app called Color announced last night that it raised $41 million from Sequoia Capital and Bain Capital pre-launch.
To use a favorite expression of Foursquare CEO Dennis Crowly, that's banana town.
It's OK.
How could this have happened?
A VC you've heard of but doesn't want us sharing his name for obvious reasons, has a purely speculative theory:
I just couldn't grok why the best early stage investor [Sequoia] would put that crazy amount of money in a pre-launch company and moreover do it alongside one of the worst [Bain]. But then figured it out.
I have no facts at all about this but bet you Sequoia seeded it and then Bain came in at higher price and got them to agree to say they did it jointly. Basically Bain paid $40 million to look Like Sequoia's peer and get Valley mojo they desperately need. No other way this could have happened.
Update: CNET's Caroline McCarthy tweets at us: "Sounds like a good theory, except that a Color exec told me Sequoia's $$ was nearly triple Bain's." So we're back to: HOW DID THIS HAPPEN?
Related: Take A Tour Of Color, The $41 Million App Everyone Is Freaking Out About
Join the conversation about this story »
See Also:
- Former Lala Founder Bill Nguyen Just Scored $41 Million For His New Startup: Color
- Take A Tour Of Color, The $41 Million App Everyone Is Freaking Out About
- Introducing The Kind Of Partner Twitter Doesn't Want To Kill: Sulia
How The #*&% Did Color Raise A Crazy $41 Million For Its First Round?
Subscribe to:
Posts (Atom)