Submitted by Danielpatricio
from Google Reader:
Recession — and social network glut — be damned! Frank DeRose, managing partner of Ferrata Capital Management, plans to invest at least $1 million into Total Prestige, an invitation-only networking site for one of the world's most underserved internet demographics: the super- and super-duper rich.The 15-year-old organizati (Read More)
Submitted by The Puck
from Google Reader:
A lot of conversations having been going on since the email announcing that Pownce had been acquired by Six Apart. Of course the real news wasn’t the purchase so much but that the Pownce service was going to be shutdown in two weeks. As irritating as it might seem to have services that users invest time in building up get s (Read More)
Silicon Alley Insider:
Huffington Post raises $25 million from Oak, $10 million more than previously reported. Kara Swisher puts the valuation at just south of $100 million (presumably post-money).This is a lot of money and a good (if not great) valuation. The company is smart to raise this much now, given the collapse of the global economy. The (Read More)
Submitted by Magitam
from Google Reader:
Editor’s note: The following guest post is written by Glenn Kelman, the CEO of Redfin, an online real estate broker. His industry went into recession a year ago, so he’s had a little more time than most startup CEOs to think about how to deal with the current downturn. Below is his advice to his fellow entrepreneurs.Startu (Read More)
Submitted by Magitam
from Google Reader:
It’s rare to hear about genetics and advertising platforms in the same sentence, but new startup SnapAds has put together an impressive ad service that effectively combines the theory of natural selection with banner ads - with very impressive results. The startup, which shares a number of founders with Weebly (though the (Read More)
Silicon Alley Insider:
The gray market for virtual goods has grown so large China has moved to tax the trade, but Valley-based startup Playspan wants to take it above ground. The company says it's raised $16.7 million dollars in a Series B round from investors including Easton Capital Group, Menlo Ventures, Novel TMT Ventures, and STIC to make it (Read More)
Submitted by Jny2cornell
from Google Reader:
There is one topic on the minds of all entrepreneurs right now: the impact of the economy on their startups. The economy is the centerpiece of every networking event and panel, and it even consumed the Q&A session after my speech at VANJ last week on how to raise VC. It’s inescapable.
The financial crisis has and will c (Read More)