WebProNews » Funding http://www.webpronews.com Breaking News in Tech, Search, Social, & Business Fri, 24 May 2013 16:40:24 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Jelly, Biz Stone’s Mysterious Startup, Reveals Bono, Al Gore, and More as Investors http://www.webpronews.com/jelly-biz-stones-mysterious-startup-reveals-bono-al-gore-and-more-as-investors-2013-05 http://www.webpronews.com/jelly-biz-stones-mysterious-startup-reveals-bono-al-gore-and-more-as-investors-2013-05#comments Thu, 16 May 2013 15:45:07 +0000 Josh Wolford http://www.webpronews.com/?p=230350 On April 1st, Twitter co-founder Biz Stone confirmed that he was working on a new startup called Jelly. He was kind of forced into revealing his hand, after news of the project leaked in late March. When Stone announced the company, he said that he was going to wait to share much of the details, since “news of Jelly emerged unexpectedly.”

Since then, we’ve received little else to go on. The project’s focus continues to be shrouded in secrecy, and we really only know that it will be primarily mobile-based, free, and won’t be ready for quite a while. In the meantime, Biz Stone has been revealing team members – including former Twitter employee Ben Finkel (co-founder and CTO), Twitter’s Kevin Thau (COO), and employee #1, designer Austin Sarner.

Today, in a blog post, Stone has announced that Jelly has just closed its Series A funding, lead by Spark Capital with investment from SV Angel. With that, Spark General Partner Bijan Sabet in now on Jelly’s Board of Directors.

Stone has also revealed some of Jelly’s early investors, and it’s an interesting list:

  • Jack Dorsey, Co-founder and CEO of Square
  • Bono, Musician and Activist
  • Reid Hoffman with the Greylock Discovery Fund
  • Steven Johnson, Author and Entrepreneur
  • Evan Williams and Jason Goldman via Obvious
  • Al Gore, Politician, Philanthropist, Nobel Laureate
  • Greg Yaitanes, Emmy Winning Director
  • Roya Mahboob, Afghan Entrepreneur and Businesswoman

Dorsey and Evan Williams – duh. But Bono and Al Gore? Hmm.

“We chose angels like Al Gore, a Partner at KPCB and Chairman and Co-founder of Generation Investment Management, Greg Yaitanes, a Hollywood director, and Roya Mahboob, an entrepreneur doing amazing work for women in Afghanistan partly because they work in divergent fields. Knowledge diversity is something we prize highly and is also something that will be represented in our product,” says Stone.

When Jelly was first officially announced, Stone said this:

People are basically good – when provided a tool that helps them do good in the world, they prove it. Jelly is a new company and product named after the jellyfish. We are inspired by this particular animal because neurologically, its brain is more “we” than “me.” Also, for the past 700 million years, this decentralized structure has been wildly successful.

“Help them do good in the world.” Is that the key phrase here? Is Jelly some sort of mobile social good app? Who knows, I guess we’ll just have to wait and see, as Stone is quite serious about keeping a tight lid on this thing. But the addition of Bono, Al Gore, and an Afghani activist hints that Jelly will be striving to do some sort of international good at the very least.

]]> http://www.webpronews.com/jelly-biz-stones-mysterious-startup-reveals-bono-al-gore-and-more-as-investors-2013-05/feed 0 Foursquare Gets $41 Million in Funding to Help Build the ‘Location Layer for the Internet,’ Better Monetize http://www.webpronews.com/foursquare-gets-41-million-in-funding-to-help-build-the-location-layer-for-the-internet-better-monetize-2013-04 http://www.webpronews.com/foursquare-gets-41-million-in-funding-to-help-build-the-location-layer-for-the-internet-better-monetize-2013-04#comments Thu, 11 Apr 2013 13:29:59 +0000 Josh Wolford http://www.webpronews.com/?p=224590 Foursquare has announced that the company has secured $41 million in funding from private equity firm Silver Lake Waterman, as well as existing investors Andreessen Horowitz, O’Reilly AlphaTech Ventures, Spark Capital, and Union Square Ventures.

CEO Dennis Crowley announced the funding Thursday morning.

“The stuff we’re building takes a lot of work. Look at yesterday’s big update, for example. The most amazing thing about it is that it tells you interesting things around you, anywhere in the world, the second you open the app. That’s not easy. We have to crunch your 3,500,000,000 check-ins, layer your social data over it, semantically analyze our tens of millions of tips, and take a look at real-time activity around you. We do all that in under a second, all to recommend two or three places that are perfect for you,” says Crowley.

“We’ve got a ton left to do. We’re building tools for local businesses to connect with their customers. We’re making search better, every single day. We’re building that location layer for the internet – the platform that all other companies use to power location in their apps. This takes time and a lot of work, and great investors.”

On Wednesday, Foursquare launched version 6.0, a significant update to both their iOS and Android platforms that puts local search and recommendations front and center. This update is more in line with the vision that Crowley has for the service – to move well beyond the check-in.

And along with the stated goals of expanding the service and building better tools, you know that Foursquare has to now focus more on monetization.

According to Bloomberg, Foursquare is planning on a whole new slew of ad partnerships, letting every merchant it works with buy ads. They’ll also be expanding their sales team to around 40 people. Foursquare has had ads for a while in the form of sponsored location posts inside the feed and in search results in the app. But they haven’t really taken off, with reports alleging Foursquare only generated about $2 million in revenue last year.

The majority of this $41 million comes in the form of a multiyear loan from Silver Lake, and everything else is convertible debt which can be exchanged for shares later. Taking on this debt allows Foursquare to buy itself some time to figure out how to monetize.

According to Crowley, 1.3 million businesses and 33 million users have “given a try” to Foursquare.

]]> http://www.webpronews.com/foursquare-gets-41-million-in-funding-to-help-build-the-location-layer-for-the-internet-better-monetize-2013-04/feed 0 Google May Be Working To Cut Off Funds To Pirate Sites http://www.webpronews.com/google-may-be-working-to-cut-off-funds-to-pirate-sites-2013-02 http://www.webpronews.com/google-may-be-working-to-cut-off-funds-to-pirate-sites-2013-02#comments Mon, 18 Feb 2013 14:10:54 +0000 Zach Walton http://www.webpronews.com/?p=217194 For the longest time, the media industry has lobbied Google to censor its search results in favor of “legitimate” Web sites. Google gave in a little last year when it introduced a new ranking signal that puts pirated content lower on the search results page. Now Google may be working towards a new, more radical, way of removing pirated content from the net.

The Telegraph reports that Google is now working on a plan that would hit pirate sites where it hurts – their wallets. The search giant would work with payment companies to block funds from going to sites that collect fees or donations in return for access to pirated content. The hope is that blocking funds to these sites will hurt them far worse than Google censoring its results. In that way, Google’s search results can stay neutral and the media industry can kill off pirate sites.

Blocking funds from reaching certain Web sites is a slippery slope, however, and it’s reported that Google is a little concerned. The company reportedly fears that the big media players could use such a ploy to block funds from reaching smaller, yet legitimate, competitors.

Despite these concerns, it’s reported that Google is working with businesses to have something in place by Spring. Media companies would definitely want to have something out sooner than later, but hopefully Google will take its time to ensure this newest ploy doesn’t cause any collateral damage.

It should be noted that this plan may never actually see the light of day. Google and the media industry may not be able to reach an agreement that’s satisfactory for both parties. Heck, it may already be dead, and rumors of its existence may just finally be reaching the press.

Regardless, we’ve reached out to Google for comment on the matter, and will update if, and when, we hear back.

]]> http://www.webpronews.com/google-may-be-working-to-cut-off-funds-to-pirate-sites-2013-02/feed 3 Google Ventures Is The Third Most Active VC Firm In The U.S. [Report] http://www.webpronews.com/google-ventures-is-the-third-most-active-vc-firm-in-the-u-s-report-2013-02 http://www.webpronews.com/google-ventures-is-the-third-most-active-vc-firm-in-the-u-s-report-2013-02#comments Fri, 15 Feb 2013 16:23:09 +0000 Chris Crum http://www.webpronews.com/?p=217026 Google Ventures is now the third most active venture captial firm in the U.S., according to the New York Post, citing info from CB Insights.

Google Ventures launched in 2009 with the goal of “discovering and growing great companies,” and has barley looked back. Currently, Google’s VC arm has over 150 companies under its belt. These range across a variety of fields like mobile, gaming, energy, and life sciences – still all territory you would expect Google itself to cover.

The investing team consists of: Bill Maris, David Krane, Joe Kraus , Karim Faris, Kevin Rose, Krishna Yeshwant, Rich Miner, Wesley Chan, Anish Acharya, Andy Wheeler, Anthony Philippakis, Blake Byers, Chris Hutchins, Lindsay Ullman, Luis Garcia, and Scott Davis.

Google Ventures recently shared this year in review infographic and video, which will give you an idea of where it stands:

Google Ventures Year in Review

[via reddit]

]]> http://www.webpronews.com/google-ventures-is-the-third-most-active-vc-firm-in-the-u-s-report-2013-02/feed 1 Starbucks to Sell Square’s Mobile Card Readers in Store http://www.webpronews.com/starbucks-to-sell-squares-mobile-card-readers-in-store-2013-01 http://www.webpronews.com/starbucks-to-sell-squares-mobile-card-readers-in-store-2013-01#comments Thu, 03 Jan 2013 16:25:39 +0000 Josh Wolford http://www.webpronews.com/?p=209377 ]]> Would you like a mobile payments processing unit with your caramel macchiato?

Square and Starbucks are further bolstering their relationship, building on one that already includes millions in investment and a payment option deal. Starting soon, Starbucks customers will be able to purchase Square mobile card readers at their coffee giant’s 7,000 stores.

The Square card reader normally sells for $10, but the company offers a full rebate for new Square-using businesses.

Last August, Square and Starbucks entered into a (slightly more important) partnership that saw Starbucks’ 7,000 stores offer Square as a payment option. Square now processes Starbucks’ credit and debit transactions, and customers can also use their Square Wallet (cardless app) to buy their morning cup of coffee.

Starbucks’ further investment in helping Square become the top mobile payments option in major stores around the country is no surprise considering Starbucks is a major investor in Square. Last September, Square closed a round of funding that included $25 million from Starbucks.

Starbucks CEO Howard Schultz also joined Square’s Board.

At the time, Square boasted that it was now processing over $8 billion in payments annually. To keep that growth, more small businesses will need to start using Square as their mobiel payments option. And getting their card readers in 7,000 of the most popular retail stores around is a pretty good start.

[via TechCrunch]

]]> http://www.webpronews.com/starbucks-to-sell-squares-mobile-card-readers-in-store-2013-01/feed 3 BuzzFeed Lands $19.3 Million in Funding, Passes 40 Million Uniques in December http://www.webpronews.com/buzzfeed-lands-19-3-million-in-funding-passes-40-million-uniques-in-december-2013-01 http://www.webpronews.com/buzzfeed-lands-19-3-million-in-funding-passes-40-million-uniques-in-december-2013-01#comments Thu, 03 Jan 2013 14:11:50 +0000 Josh Wolford http://www.webpronews.com/?p=209311 Viral trendsetters BuzzFeed have just announced a significant cash injection – $19.3 million led by NEA. Previous investors RRE, Hearst, SoftBank, and Lerer Ventures also participated – as did Michael and Kass Lazerow, Buddy Media co-founders.

“We have the senior management, board, and investors we need to build the next great media company: socially native, tech enabled, with massive scale. We are all focused on that big goal and raised this capital to move even faster,” said Jonah Peretti, BuzzFeed Founder and CEO.

In a release, BuzzFeed touts their coverage of the 2012 election aided by their “ten content verticals and bureaus in Washington D.C.” They say that this round of funding will help them “build a media company for the social age.” And $19.3 million is a pretty hefty chunk of change for the site, which received 15 million last year.

“We couldn’t be more excited to build the defining media company for the social era with Jonah and the team,” said Patrick Kerins, NEA investor and BuzzFeed Board member. “We think BuzzFeed will be one of the great media companies of the next decade.”

According to BuzzFeed, the site topped 40 million unique visitors last month. The claim that much of that was driven my social referrals – mainly Facebook, Twitter, and Pinterest. They also claim that mobile accounts for over one third of all BuzzFeed traffic. BuzzFeed currently employs 180 people.

]]> http://www.webpronews.com/buzzfeed-lands-19-3-million-in-funding-passes-40-million-uniques-in-december-2013-01/feed 0 Spotify Gets New Funding From Goldman Sachs, Coke [Report] http://www.webpronews.com/spotify-gets-new-funding-from-goldman-sachs-coke-report-2012-11 http://www.webpronews.com/spotify-gets-new-funding-from-goldman-sachs-coke-report-2012-11#comments Wed, 14 Nov 2012 21:13:44 +0000 Chris Crum http://www.webpronews.com/?p=202741 Spotify has attracted a new $100 million round of funding, valuing the company at nearly $3 billion, according to various reports.

According to the New York Times’ Media Decoder, Coca-Cola is becoming a minority investor in the company as part of the round, and that Goldman Sachs is contributing about half of the investment, with Coca-Cola contributing 10% and Fidelity Investments also contributing 15%.

News came out in April that Spotify had partnered with Coca-Cola. The announcement was that Spotify would provide technology for Coca-Cola Music globally. Coke would integrate Spotify into its Facebook Timeline media.

“Coca-Cola is the most recognized and respected brand in the world and we are proud to be their music partner,” Spotify CEO Daniel Ek said at the time. Spotify and Coca-Cola both believe that music, technology and creativity can connect people around the globe.”

There has been no official announcement or statement from Spotify at this point.

]]> http://www.webpronews.com/spotify-gets-new-funding-from-goldman-sachs-coke-report-2012-11/feed 0 Twitch Raises $15 Million in VC Funding http://www.webpronews.com/twitch-raises-15-million-in-vc-funding-2012-09 http://www.webpronews.com/twitch-raises-15-million-in-vc-funding-2012-09#comments Thu, 20 Sep 2012 14:31:36 +0000 Sean Patterson http://www.webpronews.com/?p=193213 Twitch, the leading online platform for streaming games and eSports events, announced this week that it has received a $15 million investment from venture capital firms during its latest funding round. Venture capital firm Bessemer Venture Partners provided the bulk of the funding, with Alsop Louie Partners and Draper Associates also participating the the round. Twitch stated that the investment will “accelerate the growth of Twitch’s engineering department.”

“We launched Twitch a little over a year ago, and already we have more than 20 million unique viewers per month,” said Emmett Shear, CEO of Twitch. “We have also partnered with more than 2,000 incredible broadcasters and have integrated our product with leading game publishers. “I’m very proud of our accomplishments, but there’s so much more to do. Our current team has put us at the forefront of the live video game streaming movement, and we can now invest aggressively to support our growing community with new ways to stream, watch, and chat.”

The growth of Twitch parallels the growth of the eSports market in general. Back in April Twitch partnered with CBS Interactive and Major League Gaming to provide eSports coverage. Over the past two years, games such as StarCraft II and League of Legends have garnered a large community of gamers willing to watch professionals play them. Riot Games, the developer behind League of Legends, announced last month that it will establish a professional eSports league for its game.

“Twitch is exactly the kind of company that we seek for investment,” said Ethan Kurzweil, vice president at Bessemer Venture Partners. “Twitch is not just a game changer: they created the game and are creating new experiences for their community. We’re looking forward to them accelerating their lead, and continuing to change the rules as they go.”

]]> http://www.webpronews.com/twitch-raises-15-million-in-vc-funding-2012-09/feed 0 Square Closes New Round Of Funding From Starbucks And Co. http://www.webpronews.com/square-closes-new-round-of-funding-from-starbucks-and-co-2012-09 http://www.webpronews.com/square-closes-new-round-of-funding-from-starbucks-and-co-2012-09#comments Mon, 17 Sep 2012 15:08:07 +0000 Chris Crum http://www.webpronews.com/?p=192514 Square announced today that it has closed a Series D round of funding from Citi Ventures, Rizvi Traverse Management, and Starbucks Coffee Company.

The company said in its announcement:

One year ago, Square had approximately 150 employees and processed over $1 billion in payments on an annualized basis. Today, Square has over 400 employees and is processing over $8 billion in payments on an annualized basis.

Square’s growing revenue and workforce precedes the company’s plans for international expansion later this year.

Last month, Square announced that Starbucks had signed up for Square, but also that the company would invest $25 million in Square. Additionally, Starbucks Chairman, President and CEO, Howard Schultz, joined the company’s board. More on the Starbucks deal here.

Square also recently announced a flat monthly fee for small businesses, who can pay $275 a month with 0% processing fees and no additional costs or contracts.

]]> http://www.webpronews.com/square-closes-new-round-of-funding-from-starbucks-and-co-2012-09/feed 0 Soon, Bing Is Going To Have Something Fun http://www.webpronews.com/soon-bing-is-going-to-have-something-fun-2012-07 http://www.webpronews.com/soon-bing-is-going-to-have-something-fun-2012-07#comments Mon, 09 Jul 2012 20:07:47 +0000 Chris Crum http://www.webpronews.com/?p=180821 Bing is working on something called Bing Fund, but not any details are available yet. Apparently it will be fun though. If you visit BingFund.com, all you’ll get is the image/message above.

ITProPortal reports that Bing Fund will launch in July, and is being led by VoodooPC founder Rahul Sood, as an investment program for startups and entrepreneurs.

BingFund has been tweeting. Here are all of the messages so far:

Bing also has BingBooster, a program “aimed to help ideas flourish, stuff get built and services grow”. It’s unclear whether there is any direct connection between BingBooster and Bing Fund.

In its Twitter bio, BingFund says, “We are here to help you make the world a better place.”

]]> http://www.webpronews.com/soon-bing-is-going-to-have-something-fun-2012-07/feed 4