• Startups

    Seenu Banda Raises $6.5M Series A for Stealth Startup Kaybus

    According to a regulatory filing stealthy startup Kaybus has raised $6.5 in a Series A funding round. The company’s website doesn’t reveal much about what they’re doing but does say they are hiring for software engineers who know Ruby, Java, Javascript and NodeJS. Bandu’s EIR profile on the Artiman Ventures website says: He is the founder and was the CEO of Net Devices, responsible for the company’s strategic direction and corporate management. NetDevices was acquired by Alcatel-Lucent in 2007. He stayed with Alcatel-Lucent for 4 years as VP of Solutions Marketing and later as VP of Sales for South Asia. Prior to NetDevices, he was Senior Director of Marketing at…

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    The Fancy Raises $15M More, Tweets They Had 98K Signups Yesterday

    In December 2012 The Fancy quietly filed a funding event for $6M, which appears to have gone unreported by the press. Today in a regulatory filing they revised that amount to $15M, bringing total reported funding to just shy of $60 Million. This investment comes on the heels of $26.4M raised in October 2012 from American Express and a slew of well-known names including Jack Dorsey and Chris Hughes. Yesterday the company claimed on Twitter that just shy of 100K signups in a single day: Hello to the 98,365 of you who joined registered with us today twitter.com/thefancy/statu… — Fancy (@thefancy) April 30, 2013 And it looks like they’ve been…

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    Viddy Raises $2.8 Million from New Enterprise Associates & Battery Ventures

    According to a regulatory filing social video sharing service (and Vine competitor) Viddy has raised $2.9M in an equity round from New Enterprise Associates and Battery Ventures. The filing indicates that Pete Sonsini of NEA and Brian O’Malley of Battery are now on the Board of Directors. Viddy received a ton of buzz about a year ago for reportedly raising a $30M Series B at a $370M valuation, which NEA was part of according to TechCrunch. A regulatory filing from April 2012 shows that deal did happen, so this investment is in addition to that round. I’ve got to wonder how much of the $30M raised a year ago has…

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    Scooped! What Snapchat Will Be Talking About on the Colbert Report Tonight

    At a taping of the Colbert Report, which will air at 11:30pm Eastern Time tonight, the founders of Snapchat sat down for an interview. Don’t want to wait to hear what happens? You’re in luck, a source who attended the taping has the scoop. The popular image sharing service, which is sending more than 150 Million snaps a day (that 150% more per day than when they announced their funding in early February), received the most laughs when Colbert asked: “do you make a profit yet? Or does that disappear after 10 seconds too?” Colbert also equated starting an app in college to starting a band and referred to the…

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    VC Chamath Palihapitiya Attempts to Shame Entrepreneurs Once Again

    In an interview at TechCrunch Disrupt yesterday venture capitalist Chamath Palihapitiya said the tech world at large should be ashamed for being “at an absolute minimum in terms of things that are being started”. Venture capitalists telling founders they should feel badly about the work they pour every waking moment into isn’t exactly endearing, and several readers reached out anonymously to express their dismay at the hyperbole and hypocrisy of this statement. It turns out this blatant cry for attention might not be good for deal flow either. My Take: Palihapitiya’s perceived dearth of high quality startups should hardly be taken as an indictment of the broader tech sector, and…

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    Graphicly Raises $300,000 Using MicroVentures P2P Funding Platform

    Graphicly, a tools and distribution platform for visual stories like digital comics and children’s books, raised $300,000 on the MicroVentures according to an SEC filing today. This funding comes in addition to It is unclear whether this investment rounds out the $1M announced earlier this year, or additional funding, but often with crowd funding platforms a seperate entity is formed for each of the smaller investors to commit capital, and that entity in turn invests in the startup. This also keeps the cap table much simpler. I’m digging in further to find out how MicroVentures works. In 2010 Graphicly participated in Bizspark and made this video (below), which discusses the…

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    Weekly WTF: Barking Apps Files S-1 to Raise $100,000 on OTCBB

    Usually I skip over S-1 filings unless they are by companies whose names I recognize. It’s unlikley a tech company will suddenly go public without getting on the radar of the tech press in the years leading up to IPO. That’s why this S-1 filing from Barking Applications caught my eye today, and upon closer examination I’m quite confused as to why they’d want to raise $100k by listing on the OTCBB (Over-the-Counter Bulletin Board). Even more baffling is why any retail investor would consider this company a good investment after reading the prospectus. Solo founder (who only works 30 hours a week!): We currently have no employees other than…

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    Mobile Labs Raises $2.9 Million for Enterprise Software Testing

    According to an SEC filing today, Atlanta-based enterprise software testing company Mobile Labs has raised $2,962,729 from undisclosed investors in an equity financing. The company was founded in 2011 and is lead by President & CEO Don Addington. Advisory board members include Neil Edwards, who is President of PangoUSA in New York. According to the Mobile Labs LinkedIn page, has grown to 12 employees. The company provides secure 24/7 testing for enterprise mobile applications on private internal cloud infrastructure while managing applications, devices, users and test plans in the enterprise test lab. While many testing tools exist for consumer apps, Mobile Labs appears to be focused on the closed environment…

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    Good Technology Raises $50M Equity Round

    According to an SEC filing today, enterprise software company Good Technology has raised $50,000,005 from undisclosed investors in a equity round of financing. Crunchbase data appears to be out of date, showing its most recent funding event in 2005. However, according to the EDGAR database prior funding events not listed on Crunchbase include $51.3M raised in October 2006. The company was founded in 1996 and is estimated to have raised a total of $223.3M to date. I will update this post as I learn more.

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    CrunchFund Backed LikeIt.com Will Shut Down April 30th

    According to a banner across the top of the company’s website, interest-based people discovery service LikeIt will shut down tomorrow. Originally called TheComplete.me, the company relaunched as LikeIt.com in late January of this year. Its Facebook app and shows ~1,000 monthly active users, and the website doesn’t appear to have ever had enough traffic to produce a traffic graph on Alexa. According to Crunchbase, the company raised $1.22M from Intel Capital, CrunchFund, and Plentyofish 1 year ago and received an additional $500,000 in January from Western Technology Investment. From my own experience it’s pretty difficult to burn through nearly $2M in a year with such a small team, so it…