Sarah's Feed
Nov 14, 2013

Redfin raises $50 million from Tiger Global, T. Rowe Price

SAN FRANCISCO, Nov 13 (Reuters) – Online real estate company
Redfin said it has raised $50 million from investment companies
Tiger Global Management and T. Rowe Price Associates, making it
the latest venture capital-backed company to look to
nontraditional backers for venture funding.

The Seattle-based company, which announced the new funding
on Wednesday, aims to cut costs to homebuyers by awarding to
them a portion of real-estate fees that agents traditionally are
paid by homesellers. If representing the sellers, it cuts fees
charged to them. But it has struggled to win significant market
share in the 22 cities where it operates.

Nov 12, 2013

Pinterest investor FirstMark, Rovio investor Atomico raise funds

SAN FRANCISCO (Reuters) – New York-based venture firm FirstMark Capital and London-based Atomico each raised new funds, capitalizing on their success in early-stage technology investing.

FirstMark Capital raised $225 million new venture fund, its third, less than a year after raising another fund of the same size, it said in a release on Tuesday. It has become known for investments in hot start-ups including Pinterest, the online bulletin board that is valued at more than $2.5 billion.

Nov 9, 2013

Twitter IPO sparks speculation on who could follow

SAN FRANCISCO (Reuters) – For technology executives weighing market flotations for Silicon Valley startups, this week’s gangbusters Twitter Inc initial public offering sent a powerful signal: full speed ahead.

About a dozen private companies are valued at more than $1 billion, and many of them have already been holding informal talks with bankers. Now, many – including Box, Square and Airbnb – are likely to accelerate their IPO plans, according to venture capitalists.

Nov 7, 2013

Twitter IPO highlights big money friction in San Francisco

SAN FRANCISCO, Nov 7 (Reuters) – Twitter Inc’s
initial public offering marks something of a coming out party
for San Francisco as a technology capital, giving the city a
home-grown success story to rival those of Silicon Valley to the
south.

But there is little celebration among community activists
and a growing cadre of middle class residents who resent what
they view as a tech-driven, big-money takeover of the city.

Nov 7, 2013

Factbox: Who will get rich from Twitter’s IPO?

SAN FRANCISCO (Reuters) – Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Here is a list of the number and value, based on the closing price of $44.90, of the shares owned by some of the people and investment firms that have benefited the most from Twitter’s initial public offering on Thursday. At the market close, Twitter’s valuation was $24.47 billion.

Executive officers and directors:

Evan Williams – 56,909,847 shares, or 12 percent, worth $2.56 billion. Williams was Twitter’s chief executive until 2010, when current CEO Dick Costolo took the helm. He is working on a publishing platform, Medium, which is dedicated to long-form content.

Nov 7, 2013

Who will get rich from Twitter’s IPO?

SAN FRANCISCO, Nov 7 (Reuters) – Just about everyone in
Silicon Valley has dreamed of striking it rich with a well-timed
investment. Here is a list of the number and value, based on the
closing price of $44.90, of the shares owned by some of the
people and investment firms that have benefited the most from
Twitter’s initial public offering on Thursday. At the market
close, Twitter’s valuation was $24.47 billion.

Executive officers and directors:

Evan Williams – 56,909,847 shares, or 12 percent, worth
$2.56 billion. Williams was Twitter’s chief executive until
2010, when current CEO Dick Costolo took the helm. He is working
on a publishing platform, Medium, which is dedicated to
long-form content.

Nov 5, 2013

Early Twitter investors double down on consumer Web start-ups

SAN FRANCISCO (Reuters) – For Twitter Inc’s early venture capital backers, some of whom stand to make over 500 times their investment when the company goes public, now is a time not just to celebrate but increase their stakes in mobile and social media.

Take Bijan Sabet, the partner at Spark Capital who led his firm’s investment in Twitter in 2008. At the time, according to a person familiar with the matter, Twitter was valued at $100 million. This week, the company is seeking a valuation of up to $13.6 billion in its initial public offering.

Oct 31, 2013

Twitter-backer Benchmark Capital raises new venture fund

SAN FRANCISCO, Oct 31 (Reuters) – Benchmark Capital, the
firm behind companies ranging from eBay to Twitter, is
raising a new venture fund, according to a person familiar with
the situation.

The fund will be about the same size as Benchmark’s previous
fund, a $425 million vehicle that closed in January 2011, the
person said.

Oct 29, 2013

Nextdoor attracts $60 million from Tiger Global, Kleiner Perkins

SAN FRANCISCO (Reuters) – Nextdoor, an online social network for neighbors, said it has attracted $60 million from early backers of technology titans Google, Amazon and Facebook.

The new investment, led by venture firm Kleiner Perkins Caufield & Byers and investment firm Tiger Global Management, values Nextdoor at more than $500 million, said a person familiar with the matter.

Oct 25, 2013

Obama’s tech expert becomes target over healthcare website woes

By Roberta Rampton and Sarah McBride

(Reuters) – Todd Park has gone from steering his healthcare information technology company through a blockbuster IPO to occasionally sleeping on a mat in his office while working to repair the troubled new U.S. government healthcare website.

Park, the chief technology officer for the White House and a top advisor to President Barack Obama, now finds himself among a handful of officials with targets on their backs as Republicans try to root out who is responsible for this month’s glitch-ridden rollout of Healthcare.gov.