Friday, October 14, 2005
Om Malik's Broadband Blog: YouTube Gets Sequoia's Cash?
The Web 2.0 funding frenzy is in full effect. YouTube, a self described “Flickr of Video� was one day being told to go raise less than a million dollars and grow the business. A few weeks later the word is that they have raised $5 million from Sequoia Capital at pre-money valuation of $15 million. Well that’s the story these days with Web 2.0 companies. The money gravy train can have its side effects, Mike Rundle argues.
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