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.

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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

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Foursquare Raises $50 Million At $600 Million Valuation

Foursquare just raised $50 Million at a post money valuation of $600 Million. Andreessen Horowitz led the round.

Spark Capital joined the round.

No insiders sold stock, unlike last time.

The money will go toward hiring and building out the merchant platform.

TechCrunch broke the story.

O'Reilly AlphaTech Ventures and Union Square Ventures also participated.

It's a mild upset that Union Square Ventures didn't lead the round with its new later stage fund.

Here's CEO Dennis Crowley's blog post on the news:

Foursquare is not just about the check-in, or recommendations, or points, or badges. It’s about making the world easier to use. It’s about discovering new places, connecting with friends, and forging new relationships with the places you visit. It’s finding new ways to layer technology on the real world. All of our employees believe strongly in this vision, and we’re incredibly lucky to have investors and a board that feel the same way.

Today, we’re really excited to announce that we’ve raised $50 million in funding so that we can keep working towards our goals. The new round, led by Andreessen-Horowitz, includes our current VCs (O’Reilly AlphaTech Ventures and Union Square Ventures), as well as Spark Capital. Having our current investors double down on us is a tremendous gesture of support for foursquare and for the direction we’re headed.

The additional capital will allow us to move more quickly; we can hire more engineers (we’re hiring in New York and San Francisco!), evolve our merchant offerings, expand internationally, and try a ton of new things. In the last year, we’ve grown from 15 employees to over 70, and our community has grown from under 1 million to over 10 million. The opportunity to build something meaningful in the location space is HUGE, and we feel well-positioned to capitalize on it. We’re encouraged by how far we’ve come, and we’re so excited to have such great support, from both our community and our investors, as we work to build what’s next.

Thanks (and looking forward to more great things)!

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See Also:

• $41 Million Startup Color Is Forced Into An Early, Buzzword-Laden Pivot
• Foursquare Hits 10 Million User Accounts
• SAICAST: Why Color’s Pivot Is Not A Big Deal

Foursquare Raises $50 Million At $600 Million Valuation

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

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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See Also:

• Now Square Is Looking To Raise $50 Million At A $1 Billion Valuation
• Gossip From An Evening With All The New York Tech Greats
• Zynga's New Headquarters Will Have A Dog Run On The Roof

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

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Now Square Is Looking To Raise $50 Million At A $1 Billion Valuation

Payment processing company Square is looking to raise a new round of up to $50 million with a $1 billion valuation, multiple sources tell Mike Arrington at TechCrunch.

Square has been selling the latest version of its tiny credit card reader since last fall, and just rolled out an iPhone app called Card Case that could replace the loyalty and discount cards that merchants use, and an iPad app that could replace the cash register.

Founder Jack Dorsey recently tweeted that Square is processing more than $3 million in transactions per day. A picture of the company's dashboard back in April revealed it was pulling in about $60,000 in revenue per day on $2 million in transactions, so that means it's probably close to $100,000 per day.

See also: Jack Dorsey, Apple CEO? Probably Not.

 

 

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See Also:

• Gossip From An Evening With All The New York Tech Greats
• iPad 3 Coming For Holiday Season, Says Asian Research Firm CLSA
• Zynga's New Headquarters Will Have A Dog Run On The Roof

Now Square Is Looking To Raise $50 Million At A $1 Billion Valuation

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Facebook Valuation Hitting $75 Billion

Facebook's soaring valuation just cannot be stopped.

Institutional investors are looking to buy $1 billion worth of Facebook shares from employees at a valuation of either $60 billion or $75 billion, depending on who you ask, the Wall Street Journal reports.

For some perspective, Goldman just raised money for Facebook at a $50 billion valuation in January.

Don't Miss: NO CONFLICT, NO INTEREST: John Doerr And The Rise Of Secondary Markets →

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Facebook Valuation Hitting $75 Billion

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