Not included in the long list of investors betting $100 million on Twitter today: Union Square Ventures, one of the messaging service’s most prominent backers. What happened? Best guess: The $1 billion valuation priced the early investor out.
One of the hottest start-ups of 2009 had to fend off investors this summer–even if many people don’t understand exactly what the service does or who is supposed to use it. Foursquare co-founder Dennis Crowley explains.
Yet another sign that revenue-free start-ups can still attract investors, given the right pitch: Boxee, the software company that makes it easy to get Web video onto your TV, has raised a $6 million B round led by General Catalyst. I’m told the new round pegs the company’s value in the $25 million to $30 million range. What’s the appeal? The chance that the company could play a role in the disruption of the $70 billion TV business.
One downside of being the world’s most talked-about start-up: You become an irresistible target for hackers. And now someone’s made off with a pile of Twitter’s corporate documents, apparently with Google’s unwitting assistance. Time to for a realistic solution to the cloud computing security problem.
Just in case anyone was wondering: Hulu, the Web video service that lets you watch Fox and NBC shows on your computer, really doesn’t want you to plug that computer into your TV. And Boxee, a start-up that makes it easy for you to plug your computer into your TV so you can watch Web video, doesn’t care.
Dave Morgan made his reputation, and fortune, by building RealMedia and Tacoda–two pioneering Web advertising technology companies. So it’s no surprise to see him launch another ad start-up. But it is surprising to hear about the market he’s targeting: TV ads for TV shows.
Tumblr is exactly the kind of start-up that’s supposed to be gasping for air in today’s dismal economy: A trendy but niche Web service with a prominent founder and exactly zero revenue. Instead, it has raised a $4.5 million funding round from Union Square Ventures and Spark Capital, which values the company at around $15 million.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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