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.
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 fund will be about the same size as Benchmark’s previous
fund, a $425 million vehicle that closed in January 2011, the
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.
(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.
SAN FRANCISCO (Reuters) – EBay Inc founder Pierre Omidyar has become the latest self-made tech baron to plunge into the struggling news industry – hot on the heels of Amazon.com Inc founder Jeff Bezos, who just paid $250 million for the Washington Post.
But unlike Bezos, the French-born Iranian American says he aims to build a new “mass media organization” from the ground up, and his first recruits are the journalists who exposed the U.S. government’s surveillance programs, using documents leaked by former spy agency contractor Edward Snowden.
SAN FRANCISCO (Reuters) – A group of high-flying Silicon Valley investors is betting that there is room for one more program that fosters early-stage companies.
This time, they are focused on the massive amounts of information generated in part by the Internet and known collectively as big data.
SAN FRANCISCO, Oct 17 (Reuters) – Stitch Fix said it has
raised $12 million as it tries to establish itself in what is
proving a tricky market: online retail sales.
While online sales rise every year, many entrants have a
tough time with the razor-thin profit margins and ability to
differentiate themselves from established players such as
SAN FRANCISCO (Reuters) – EBay Inc founder Pierre Omidyar on Wednesday said he is building an independent media organization covering news from sports to politics for mainstream readers, spearheaded by big names including ex-Guardian correspondent Glenn Greenwald.
Omidyar, the 46-year-old French-born Iranian-American who remains chairman of the e-commerce giant he founded, wrote in a blog post that he considered buying the Washington Post – which Amazon.com Inc founder Jeff Bezos eventually snapped up – but decided he wanted to build a news organization from the ground up.
SAN FRANCISCO (Reuters) – Among Twitter Inc’s highest-paid executives, Christopher Fry’s name stands out.
The senior vice president of engineering raked in $10.3 million last year, just behind Twitter Chief Executive Dick Costolo’s $11.5 million, according to Twitter’s IPO documents. That is more than the paychecks of executives such as Chief Technology Officer Adam Messinger, Chief Financial Officer Mike Gupta and Chief Operating Officer Ali Rowghani.
SAN FRANCISCO, Oct 7 (Reuters) – Airbnb, a red hot online
accommodations service, may have to disclose user data to the
government, possibly to the detriment of its customers’ privacy
and its own business prospects.
On Friday New York State Attorney General Eric Schneiderman
sent Airbnb a subpoena requesting host data from New York users
of the service, which connects vacationers and others with
people wishing to rent out their homes, apartments and other
living spaces to short-term guests.