Sunday, August 31, 2008
paidcontent: Blogs to Riches: Perez Hilton
"Blogs to Riches: Perez Hilton: A profile of Mario Lavandeira, the blogger behind celeb gossip site PerezHilton.com, and his rise to fame. Ads on his homepage fetch up to $54,000 a day, and his overhead is minimal-- his only employee is his sister Barby, who fields emails and corrects typos. Which means he’s pulling down millions a year, the Wired story says. The site now averages 198 million pageviews a month, according to Quantcast. Nielsen Online estimates that while visitors to TMZ.com, one of his main competitors, stay only 15 minutes, those on Hilton’s site linger for 45 minutes. "
godspeed GUSTAV
"Gustav roared into the oil-rich Gulf of Mexico as a ferocious Category 4 hurricane Sunday after destroying homes and roads in Cuba. The mayor of New Orleans ordered residents to flee the "storm of the century" by morning.
The U.S. National Hurricane Center said Gustav weakened slightly over Cuba but was expected to regain strength as it moves over the warm waters of the Gulf of Mexico and toward the U.S. Coast, possibly becoming a top-scale Category 5 hurricane on Sunday.
Forecasters said Gustav was just short of Category 5 strength when it made landfall Saturday on mainland Cuba near the community of Los Palacios in Pinar del Rio — a region that produces much of the tobacco used to make the nation's famed cigars.
At least 300,000 people were evacuated from Gustav's path as screaming 140 mph (220 kph) winds toppled telephone poles and fruit trees, shattered windows and tore off the tin roofs of homes."
The U.S. National Hurricane Center said Gustav weakened slightly over Cuba but was expected to regain strength as it moves over the warm waters of the Gulf of Mexico and toward the U.S. Coast, possibly becoming a top-scale Category 5 hurricane on Sunday.
Forecasters said Gustav was just short of Category 5 strength when it made landfall Saturday on mainland Cuba near the community of Los Palacios in Pinar del Rio — a region that produces much of the tobacco used to make the nation's famed cigars.
At least 300,000 people were evacuated from Gustav's path as screaming 140 mph (220 kph) winds toppled telephone poles and fruit trees, shattered windows and tore off the tin roofs of homes."
Venture Capital: Monster venture firm continues to raise funds
"ROB MONSTER STIRRED the venture capital pot last summer when the entrepreneur turned angel investor launched Monster Venture Partners, saying at the time that venture capitalists deserved a "bad rap" for putting entrepreneurs in the "back corner."
Now, after a very active year in which Monster placed bets on more than 20 early-stage startup companies and hired two experienced partners, the former chief executive at Global Market Insite continues to push the envelope. And, at least in his view, the climate for early-stage investing is improving as entities such as Y Combinator change the way people think about financing new technology companies.
"We are seeing impressive companies being built for under $100,000," he says. "That is great news for angel investors and angel funds."
So what is next for Monster? Interestingly enough, despite the declining capital needs of some Internet startups, he's raising more money.
To date, Monster has backed the Bellevue firm with about $7 million of his personal funds. Now, he's looking to bring in $7 million to $10 million more from outside investors, with an institutional round of as much as $40 million possibly on tap for next year."
Now, after a very active year in which Monster placed bets on more than 20 early-stage startup companies and hired two experienced partners, the former chief executive at Global Market Insite continues to push the envelope. And, at least in his view, the climate for early-stage investing is improving as entities such as Y Combinator change the way people think about financing new technology companies.
"We are seeing impressive companies being built for under $100,000," he says. "That is great news for angel investors and angel funds."
So what is next for Monster? Interestingly enough, despite the declining capital needs of some Internet startups, he's raising more money.
To date, Monster has backed the Bellevue firm with about $7 million of his personal funds. Now, he's looking to bring in $7 million to $10 million more from outside investors, with an institutional round of as much as $40 million possibly on tap for next year."
Saturday, August 30, 2008
NYTimes.com: Internet Traffic Begins to Bypass the U.S.
"Invented by American computer scientists during the 1970s, the Internet has been embraced around the globe. During the network’s first three decades, most Internet traffic flowed through the United States. In many cases, data sent between two locations within a given country also passed through the United States.
Engineers who help run the Internet said that it would have been impossible for the United States to maintain its hegemony over the long run because of the very nature of the Internet; it has no central point of control.
And now, the balance of power is shifting. Data is increasingly flowing around the United States, which may have intelligence — and conceivably military — consequences."
Engineers who help run the Internet said that it would have been impossible for the United States to maintain its hegemony over the long run because of the very nature of the Internet; it has no central point of control.
And now, the balance of power is shifting. Data is increasingly flowing around the United States, which may have intelligence — and conceivably military — consequences."
Thursday, August 28, 2008
Microsoft says to buy Greenfield for $486 mln
Shares of Greenfield Online Inc., which provides marketing companies with Internet surveys, rose sharply Tuesday after the company called a $17.50-per-share cash takeover offer from an undisclosed suitor superior to a previous bid from private investment firm Quadrangle Group LLC.
Greenfield shares rose $1.26, or 7.9 percent, to $17.24. In the past year, the stock has ranged from $10.25 to $17.44.
Greenfield said it plans to terminate a merger agreement made in June with Quadrangle, which would have given shareholders $15.50 per share. The proposed transaction was worth about $407.9 million based on the company's 26.3 million outstanding shares as of May 2.
According to the agreement, Quadrangle has three days to increase its offer, Greenfield said. Terminating the agreement would cost Greenfield $5 million.
The new offer is not contingent on financing, Greenfield said.
Greenfield shares rose $1.26, or 7.9 percent, to $17.24. In the past year, the stock has ranged from $10.25 to $17.44.
Greenfield said it plans to terminate a merger agreement made in June with Quadrangle, which would have given shareholders $15.50 per share. The proposed transaction was worth about $407.9 million based on the company's 26.3 million outstanding shares as of May 2.
According to the agreement, Quadrangle has three days to increase its offer, Greenfield said. Terminating the agreement would cost Greenfield $5 million.
The new offer is not contingent on financing, Greenfield said.
Valleywag: David Maestri: Creator of Facebook's most revenue-rich app accused of stealing trade secrets
"David Maestri created Facebook's most successful widget, Mob Wars, but now he's in legal trouble because he developed and launched the app while working for the company that would become the Social Gaming Network.
Sources tell VentureBeat that Maestri's Mob Wars, a role-playing game for the Facebook platform, earns its creator $1 million a month off its 2,505,698 monthly active users, mostly by selling in-game player upgrades for real world cash. On top of that income, research firm DeveloperAnalytics says Mob Wars could make another $22,000 month selling ads because its users load the app's pages around 60 times a day."
Sources tell VentureBeat that Maestri's Mob Wars, a role-playing game for the Facebook platform, earns its creator $1 million a month off its 2,505,698 monthly active users, mostly by selling in-game player upgrades for real world cash. On top of that income, research firm DeveloperAnalytics says Mob Wars could make another $22,000 month selling ads because its users load the app's pages around 60 times a day."
Cisco Takes On Microsoft Exchange With PostPath Buy
"Cisco Systems (NSDQ:CSCO) Wednesday said it plans to acquire PostPath, a vendor that targets Microsoft (NSDQ:MSFT) in the e-mail and calendaring software market.
Under the terms of the agreement, Cisco will pay approximately $215 million for all shares of PostPath, Mountain View, Calif., in a deal expected to close during Cisco's current fiscal quarter, according to a Cisco statement.
PostPath on its Web site positions itself as "the only drop-in natively interoperable alternative to Microsoft Exchange," touting the high-performance and ease of backup of its PostPath Server.
Cisco, San Jose, Calif., plans to use PostPath's Linux-based software to supplement its WebEx Connect collaboration platform, giving it the ability to provide e-mail and calendar functionality via a Software-as-a-Service model. PostPath's offerings are interoperable with other e-mail solutions, provide a browser-independent AJAX Web client and also work with mobile clients, Cisco said in the statement.
"The acquisition of PostPath complements our strategy to develop an integrated collaboration platform designed for how we work today and into the future, providing real productivity gains and a more satisfying user experience," said Doug Dennerline, senior vice president of Cisco's Collaboration Software Group, in the statement. "Our 'cloud-based' delivery model offers our customers rapid deployment and compelling economics."
Under the terms of the agreement, Cisco will pay approximately $215 million for all shares of PostPath, Mountain View, Calif., in a deal expected to close during Cisco's current fiscal quarter, according to a Cisco statement.
PostPath on its Web site positions itself as "the only drop-in natively interoperable alternative to Microsoft Exchange," touting the high-performance and ease of backup of its PostPath Server.
Cisco, San Jose, Calif., plans to use PostPath's Linux-based software to supplement its WebEx Connect collaboration platform, giving it the ability to provide e-mail and calendar functionality via a Software-as-a-Service model. PostPath's offerings are interoperable with other e-mail solutions, provide a browser-independent AJAX Web client and also work with mobile clients, Cisco said in the statement.
"The acquisition of PostPath complements our strategy to develop an integrated collaboration platform designed for how we work today and into the future, providing real productivity gains and a more satisfying user experience," said Doug Dennerline, senior vice president of Cisco's Collaboration Software Group, in the statement. "Our 'cloud-based' delivery model offers our customers rapid deployment and compelling economics."
Does Silicon Valley Face an Innovation Crisis?
"Judy Estrin, who has built several Silicon Valley companies and was the chief technology officer of Cisco Systems, says Silicon Valley is in trouble. In a new book, “Closing the Innovation Gap,” which will be in bookstores Tuesday, she writes that the valley’s problems are symptomatic of a crisis in innovation facing the country as a whole.
In an interview in her Menlo Park office Thursday, Ms. Estrin said that the United States is stifling innovation by failing to take risks in sectors from academia to government to venture capital. “I’m not generally an alarmist, but I am really, really concerned about this country,” she said.
In her book, Ms. Estrin discusses everything from problems in elementary education to drug development, but her expertise is in information technology. Beginning in 1981, she co-founded three tech companies: Bridge Communications, Network Computing Devices and Precept Software. In 1998, Cisco acquired Precept and appointed her chief technology officer. She left in 2000 and co-founded Packet Design, now JLABS, where she is chief executive."
In an interview in her Menlo Park office Thursday, Ms. Estrin said that the United States is stifling innovation by failing to take risks in sectors from academia to government to venture capital. “I’m not generally an alarmist, but I am really, really concerned about this country,” she said.
In her book, Ms. Estrin discusses everything from problems in elementary education to drug development, but her expertise is in information technology. Beginning in 1981, she co-founded three tech companies: Bridge Communications, Network Computing Devices and Precept Software. In 1998, Cisco acquired Precept and appointed her chief technology officer. She left in 2000 and co-founded Packet Design, now JLABS, where she is chief executive."
Wednesday, August 27, 2008
Insight Venture Partners: Jerry Murdock
"Jerry Murdock is a co-founder of Insight Venture Partners. Since Insight’s inception in 1995, he has played a leading role in defining the company’s investment strategy and has been primarily responsible for the development of many of the firm’s portfolio investments.
Mr. Murdock currently serves as a director of Quest Software (NASDQ:QSFT), CallWave Inc (NASDQ:CALL), Dorado Software, DivX Inc (NASDQ:DIVX), DriveCam and Beatport. Previously he served as a director of Click Commerce (NASDQ:CKCM), Convergent Group (NASDQ:CVGP), Digital Harbor, In-Fusio, McKinley (acquired by Excite), Peace Software and SeeBeyond Technology Corp (NASDQ:SBYN).
From 1988 to 1995 Mr. Murdock was a founder and director of the Aspen Technology Group. Mr. Murdock graduated with a degree in Political Science from San Diego State University and subsequently worked at the Georgetown Center for Strategic & International Studies (now known as CSIS) where he was a contributor to the export competitiveness project. His work was published in The Export Competitive Series: Comparative Analysis of Export Policy, United States, United Kingdom, France, Germany, Canada and Japan.
Mr. Murdock is a member of the Board of Trustees of both The Santa Fe Institute and The Aspen Institute."
Mr. Murdock currently serves as a director of Quest Software (NASDQ:QSFT), CallWave Inc (NASDQ:CALL), Dorado Software, DivX Inc (NASDQ:DIVX), DriveCam and Beatport. Previously he served as a director of Click Commerce (NASDQ:CKCM), Convergent Group (NASDQ:CVGP), Digital Harbor, In-Fusio, McKinley (acquired by Excite), Peace Software and SeeBeyond Technology Corp (NASDQ:SBYN).
From 1988 to 1995 Mr. Murdock was a founder and director of the Aspen Technology Group. Mr. Murdock graduated with a degree in Political Science from San Diego State University and subsequently worked at the Georgetown Center for Strategic & International Studies (now known as CSIS) where he was a contributor to the export competitiveness project. His work was published in The Export Competitive Series: Comparative Analysis of Export Policy, United States, United Kingdom, France, Germany, Canada and Japan.
Mr. Murdock is a member of the Board of Trustees of both The Santa Fe Institute and The Aspen Institute."
paidcontent: Photobucket’s Sale To Fox: How VC Insiders Made Big Personal Returns
"The documents showed that the primary investors were IVP founders Jeff Horing and Jerry Murdock, who each invested $300,000 into the company and personally made 20 times their money—or $6 million each from the investment. Our informer had this to say: “As shown in the stock purchase agreement, the LLC was called IVP/PB LLC, had a similar name to Insight Venture Partners, and even had the same address as Insight Venture Partners—680 Fifth Avenue in New York—giving the founders of Photobucket the impression that an actual Insight fund was investing in the company.”
I am pretty sure Photobucket founders knew IVP, as a fund, was not investing, but turns out most of the other details are true, as WSJ lays out. WSJ says that the return for IVP partners was more than $40 million (not $60 million as the tip we got) and that Horing and Murdock got above $5 million (and not $6 million as our tip said).
This cautionary tale shows the conflicts that venture partners have in investing directly into startups, instead of the venture funds they manage. Some VC funds allow this if the investment is outside the scope of its own investing philosophy...in this case IVP, which has about $3 billion under management, makes later-stage investments in tech companies, often taking a controlling interest. The firm’s average investment size is about $35 million, Horing told WSJ. Photobucket didn’t come close to meeting those criteria, and hence the personal investment in Photobucket was the only option for these individuals who wanted to invest in the fast-growing (in terms of users) service. "
I am pretty sure Photobucket founders knew IVP, as a fund, was not investing, but turns out most of the other details are true, as WSJ lays out. WSJ says that the return for IVP partners was more than $40 million (not $60 million as the tip we got) and that Horing and Murdock got above $5 million (and not $6 million as our tip said).
This cautionary tale shows the conflicts that venture partners have in investing directly into startups, instead of the venture funds they manage. Some VC funds allow this if the investment is outside the scope of its own investing philosophy...in this case IVP, which has about $3 billion under management, makes later-stage investments in tech companies, often taking a controlling interest. The firm’s average investment size is about $35 million, Horing told WSJ. Photobucket didn’t come close to meeting those criteria, and hence the personal investment in Photobucket was the only option for these individuals who wanted to invest in the fast-growing (in terms of users) service. "
Tuesday, August 26, 2008
Jumptap vs. Goog Mobile Search
"Investors still see the mobile search and advertising market as one of the hottest tickets in the digital economy. Since its founding in 2004, mobile advertising startup JumpTap, neighbors of Xconomy just down First Street in Cambridge MA, has raised about $47 million from the likes of General Catalyst Partners, Summerhill Venture Partners, Redpoint Ventures, Valhalla Partners, and WPP. Up until yesterday, that is. Today the company announced that it has raised another $26 million, in a Series D round involving all of the company’s existing investors as well as new lead investor AllianceBernstein L.P. (NYSE: AB) of New York.
JumpTap isn’t a household name, but it provides the technology behind the mobile Web search applications on Java, BREW, and WAP phones from a host of cellular operators, including AT&T, Alltel, Boost Mobile, and U.S. Cellular in the United States; Bell Canada, Rogers Wireless, and Fido in Canada; Telefonica in Spain; TeliaSonera in the Nordic and Baltic region; and Virgin Mobile."
JumpTap isn’t a household name, but it provides the technology behind the mobile Web search applications on Java, BREW, and WAP phones from a host of cellular operators, including AT&T, Alltel, Boost Mobile, and U.S. Cellular in the United States; Bell Canada, Rogers Wireless, and Fido in Canada; Telefonica in Spain; TeliaSonera in the Nordic and Baltic region; and Virgin Mobile."
DCM makes $19 million investment in MIOX
"Albuquerque-based MIOX Corp. has closed on a $19 million series C round of investment led by the Silicon Valley-based international venture capital firm DCM.
The new round brings total investment in MIOX to nearly $50 million.
The company, which sells proprietary water-purification devices for industrial and personal use, had received about $30 million in past investment rounds, including $14.5 million in early 2007. Previous investors Sierra Ventures and Flywheel Ventures both participated in the latest round, said MIOX CEO Carlos Perea in a news release.
“This investment led by DCM will enable MIOX to take full advantage of its outstanding and proven on-site generation technology and move more rapidly into strategic markets,” Perea said. “The demand for safe, treated water continues to grow throughout the world. Our new partner, DCM, provides exceptional experience in global market development and will be integral to our plans to grow internationally.”
The new round brings total investment in MIOX to nearly $50 million.
The company, which sells proprietary water-purification devices for industrial and personal use, had received about $30 million in past investment rounds, including $14.5 million in early 2007. Previous investors Sierra Ventures and Flywheel Ventures both participated in the latest round, said MIOX CEO Carlos Perea in a news release.
“This investment led by DCM will enable MIOX to take full advantage of its outstanding and proven on-site generation technology and move more rapidly into strategic markets,” Perea said. “The demand for safe, treated water continues to grow throughout the world. Our new partner, DCM, provides exceptional experience in global market development and will be integral to our plans to grow internationally.”
Irony
"Tragic irony.
Dave Freeman, one of the co-authors of the best selling book 100 Things to Do Before You Die, died unexpectedly last week.
He was only 47-years old.
The cause of death was some sort of head injury.
Freeman reportedly fell over at his home in Venice, California, and hit his head.
He had only managed to visit half of the places recommended in his book.
Sad, sad!"
Dave Freeman, one of the co-authors of the best selling book 100 Things to Do Before You Die, died unexpectedly last week.
He was only 47-years old.
The cause of death was some sort of head injury.
Freeman reportedly fell over at his home in Venice, California, and hit his head.
He had only managed to visit half of the places recommended in his book.
Sad, sad!"
WSJ: Insight profits, LPs don't on Photobucket investment
"Two years earlier, Insight employees, their friends and family paid $3 million for 20% of the fast-growing company. The group made more than 15 times its money on the investment, banking more than $40 million, according to documents reviewed by The Wall Street Journal. The firm's co-founders, Jeff Horing and Jerry Murdock, invested $300,000 apiece. Each banked nearly $5 million when News Corp.'s Fox Interactive Media bought Photobucket.
But investors in Insight's technology fund -- so-called limited partners such as the California Public Employees' Retirement System and Yale University's endowment -- made nothing. They didn't participate in the investment in Photobucket, and weren't given the chance to do so.
"The investment was made in full compliance with the letter and spirit of all of Insight's agreements with its limited partners," said Ilan Nissan, a partner with O'Melveny & Myers LLP, a law firm that regularly represents Insight.
The windfall earned by Insight executives -- but not the firm's investors -- highlights a dicey game: fund executives who invest in deals personally, but not through the funds they manage. Private-equity, venture-capital and hedge-fund firms all wrestle with the potential conflicts of interest inherent when executives -- the so-called general partners -- invest in deals personally rather than through their funds."
But investors in Insight's technology fund -- so-called limited partners such as the California Public Employees' Retirement System and Yale University's endowment -- made nothing. They didn't participate in the investment in Photobucket, and weren't given the chance to do so.
"The investment was made in full compliance with the letter and spirit of all of Insight's agreements with its limited partners," said Ilan Nissan, a partner with O'Melveny & Myers LLP, a law firm that regularly represents Insight.
The windfall earned by Insight executives -- but not the firm's investors -- highlights a dicey game: fund executives who invest in deals personally, but not through the funds they manage. Private-equity, venture-capital and hedge-fund firms all wrestle with the potential conflicts of interest inherent when executives -- the so-called general partners -- invest in deals personally rather than through their funds."
WebGuild: Russian Startup Halts Google’s Rise: Files $2 Billion IPO
"Russian startup, Yandex, is the most popular search engine in Russia with 55% of the market compared with Google’s 21%. Currently, there are 33 million Russians online (as many people as in Britain and more than France) and that is expected to grow to 60 million in the next five years (by 2013).
In 2000, the company had revenues of $400,000 and was valued at US$14 million. Last year, it had revenues of US$170 million and is planning a US$2 billion public offering that would give the company a public valuation of US$5 billion. Many industry analysts believe that this figure will probably double. A group of U.S. & European investors who invested US$5 million in the company is expected to cash out US$1.4 billion worth of shares when it goes public."
In 2000, the company had revenues of $400,000 and was valued at US$14 million. Last year, it had revenues of US$170 million and is planning a US$2 billion public offering that would give the company a public valuation of US$5 billion. Many industry analysts believe that this figure will probably double. A group of U.S. & European investors who invested US$5 million in the company is expected to cash out US$1.4 billion worth of shares when it goes public."
Sunday, August 24, 2008
Deal Journal: Venture Capital Investment in India More Than Doubled in Second Quarter
"Venture-capital investment in India more than doubled in the second quarter after a relatively level amount of money moved into start-up companies there in the past few quarters."
"Venture firms invested $237.6 million across 17 deals in the three months ended June 30, compared with $108 million and 12 deals a year earlier, according to data from VentureSource, a unit of Deal Journal publisher Dow Jones. Since the first quarter of 2007, when venture capitalists flooded India with $436 million across 41 deals, investment had held steady at a quarterly average of roughly $118 million through the first quarter of 2008.
The biggest contributor to this year’s second-quarter jump is the $70 million, second-round investment in Laqshya Media, a Mumbai provider of out-of-home media advertising services.
Even with the second-quarter pop, investment is down through the first six months of the year, in part because of the strength of last year’s first quarter. Investors have put $360.5 million in 35 deals in the first half, down from $544 million and 46 deals a year earlier. By comparison, venture firms invested $2.15 billion in mainland China companies in the first six months of 2008."
"Venture firms invested $237.6 million across 17 deals in the three months ended June 30, compared with $108 million and 12 deals a year earlier, according to data from VentureSource, a unit of Deal Journal publisher Dow Jones. Since the first quarter of 2007, when venture capitalists flooded India with $436 million across 41 deals, investment had held steady at a quarterly average of roughly $118 million through the first quarter of 2008.
The biggest contributor to this year’s second-quarter jump is the $70 million, second-round investment in Laqshya Media, a Mumbai provider of out-of-home media advertising services.
Even with the second-quarter pop, investment is down through the first six months of the year, in part because of the strength of last year’s first quarter. Investors have put $360.5 million in 35 deals in the first half, down from $544 million and 46 deals a year earlier. By comparison, venture firms invested $2.15 billion in mainland China companies in the first six months of 2008."
Wednesday, August 20, 2008
Forbes.com: Garbage In... Advanced Equities
"A late-stage venture funding outfit is foisting junky startups on investors--much to the benefit of the Sand Hill Road crowd.
It's just the sort of improbable success that Silicon Valley adores. Two young entrepreneurs have, in a mere five years, turned an obscure Chicago venture capital firm into a presence visible from Sand Hill Road. This year Keith Daubenspeck and Dwight Badger's Advanced Equities Financial is on track to raise $1 billion for startups previously backed by industry Brahmins like Kleiner Perkins Caufield & Byers, Benchmark Capital, New Enterprise Associates and Vinod Khosla.
In the process, closely held AE earned operating income (Ebitda) of $26 million last year on $300 million in revenue. Daubenspeck is ranked 72nd on the 2008 FORBES Midas 100 list of top tech dealmakers. He hopes to take AE public within 18 months."
It's just the sort of improbable success that Silicon Valley adores. Two young entrepreneurs have, in a mere five years, turned an obscure Chicago venture capital firm into a presence visible from Sand Hill Road. This year Keith Daubenspeck and Dwight Badger's Advanced Equities Financial is on track to raise $1 billion for startups previously backed by industry Brahmins like Kleiner Perkins Caufield & Byers, Benchmark Capital, New Enterprise Associates and Vinod Khosla.
In the process, closely held AE earned operating income (Ebitda) of $26 million last year on $300 million in revenue. Daubenspeck is ranked 72nd on the 2008 FORBES Midas 100 list of top tech dealmakers. He hopes to take AE public within 18 months."
Monday, August 18, 2008
Sunday, August 17, 2008
eetimes: Tech Comes Clean
"Unless you live under a rock, you can't avoid all the bad news about the environment. Global warming, carbon footprints, extreme weather, rising sea levels, the possible extinction of polar bears--it's everywhere. Oh, and at our current rate of growth, there will be another 3 billion people on the planet within the next 40 years, up from 6 billion today.
As a market , "cleantech" is large and growing. According to a report by CleanEdge Inc., company revenue in the biofuel, wind, solar-photovoltaic and fuel cell markets is expected to top $250 billion within the decade, up from $77 billion last year. And global investment in energy technologies reached close to $150 billion in 2007, according to research firm New Energy Finance, as reported by CleanEdge in its 2008 report.
"The market size for cleantech will be measured in the trillions of dollars -- it's immeasurably deep," said Erik Straser, partner and leader of the cleantech team at venture capital firm Mohr, Davidow Ventures (Palo Alto, Calif.) Mohr, Davidow has investments in 11 cleantech companies to date, including those exploring solar, biofuel and hydrogen fuel cell technologies."
As a market , "cleantech" is large and growing. According to a report by CleanEdge Inc., company revenue in the biofuel, wind, solar-photovoltaic and fuel cell markets is expected to top $250 billion within the decade, up from $77 billion last year. And global investment in energy technologies reached close to $150 billion in 2007, according to research firm New Energy Finance, as reported by CleanEdge in its 2008 report.
"The market size for cleantech will be measured in the trillions of dollars -- it's immeasurably deep," said Erik Straser, partner and leader of the cleantech team at venture capital firm Mohr, Davidow Ventures (Palo Alto, Calif.) Mohr, Davidow has investments in 11 cleantech companies to date, including those exploring solar, biofuel and hydrogen fuel cell technologies."
sportsfanlive.com
"David Katz is heading into a Web site battle against Internet sports powerhouses like the ones run by ESPN, Yahoo, Fox Sports, Major League Baseball and AOL. "
"At least he knows the enemy.
By the time Mr. Katz left Yahoo at the end of 2006 as the head of sports, entertainment and studios, he had guided its sports site into a rivalry with espn.com that still has them trading the monthly lead in unique visitors in their category.
Mr. Katz, 36, believes that his Web site, sportsfanlive.com, which will be formally released this week, will find a substantial following with his versions of customized content, social networking and fantasy games. He believes his competitors have grown overly stodgy and too congested for fans to wade through.
“Those other sites are fundamentally all the same,” he said, calling them “imbued with traditional media DNA.” He added that they are “not built for the next generation and for the evolving needs of sports fans.”
"At least he knows the enemy.
By the time Mr. Katz left Yahoo at the end of 2006 as the head of sports, entertainment and studios, he had guided its sports site into a rivalry with espn.com that still has them trading the monthly lead in unique visitors in their category.
Mr. Katz, 36, believes that his Web site, sportsfanlive.com, which will be formally released this week, will find a substantial following with his versions of customized content, social networking and fantasy games. He believes his competitors have grown overly stodgy and too congested for fans to wade through.
“Those other sites are fundamentally all the same,” he said, calling them “imbued with traditional media DNA.” He added that they are “not built for the next generation and for the evolving needs of sports fans.”
Saturday, August 16, 2008
ESPN: Phelps wins 8th
"Te unimaginable was imagined. But was it possible? Only Michael Phelps knew. But now the world knows. Phelps had an amazing Olympics, winning eight gold medals in Beijing to break Mark Spitz's record. Remarkable"
Monday, August 11, 2008
OPENSports.com
"Mike Levy, founder and former CEO of SportsLine.com and publisher of CBS SportsLine.com, NFL.com, PGATours.com and NCAASports.com has announced the launch of OPENSports.com, a next-generation sports site that will re-define the sports fan’s entertainment experience.
OPENSports.com is a comprehensive platform of products and services that brings together breaking sports news, social media tools, user generated content and multimedia applications to create the ultimate community-oriented destination. OPEN Sports users will be able to compete against other passionate fans with next-generation fantasy games. In addition, users have the ability to participate in a new kind of social experience around gameday, get the latest sports news and information from the best national and local sources, and keep their friends and other sports fans informed by uploading relevant videos, photos and stories."
OPENSports.com is a comprehensive platform of products and services that brings together breaking sports news, social media tools, user generated content and multimedia applications to create the ultimate community-oriented destination. OPEN Sports users will be able to compete against other passionate fans with next-generation fantasy games. In addition, users have the ability to participate in a new kind of social experience around gameday, get the latest sports news and information from the best national and local sources, and keep their friends and other sports fans informed by uploading relevant videos, photos and stories."
Apple hits 3 million iPhone's sold in its debut month - Aug. 11, 2008
"One month after its debut, Apple's new iPhone has hit the 3 million sold mark, according to analyst Michael Cote of the Cote Collaborative.
"They are seeing unprecedented demand," says Cote, adding that there appears to be no signs of a let up yet. Cote, a former T-Mobile executive, has been extremely accurate with wireless predictions in the past.
An Apple (AAPL, Fortune 500) spokesperson declined to comment on Cote's projections.
The blistering sales pace of Apple's new gadget defies the otherwise downward trends in consumer spending, employment levels and overall economic health. The 3 million figure is much higher than Wall Street analysts had anticipated. Forecasts called for total quarterly sales of three million to four million. "
"They are seeing unprecedented demand," says Cote, adding that there appears to be no signs of a let up yet. Cote, a former T-Mobile executive, has been extremely accurate with wireless predictions in the past.
An Apple (AAPL, Fortune 500) spokesperson declined to comment on Cote's projections.
The blistering sales pace of Apple's new gadget defies the otherwise downward trends in consumer spending, employment levels and overall economic health. The 3 million figure is much higher than Wall Street analysts had anticipated. Forecasts called for total quarterly sales of three million to four million. "
Friday, August 08, 2008
Private Equity HUB - Blackstone Raising Cleantech Fund
"The Blackstone Group is raising a dedicated cleantech fund, peHUB has learned.
The firm announced this morning that it has formed a dedicated cleantech investment group, but did not mention the fund. It will be led by James Kiggen, who previously focused on growth-stage and late-stage cleantech deals for AllianceBernstein. For example, he worked on A123Systems and Powerspan. The Blackstone fund will follow a similar model which is more venture capital than buyout — with average investments of between $30 million and $50 million.
peHUB had reported back in May that Blackstone may begin raising industry sector-specific funds."
The firm announced this morning that it has formed a dedicated cleantech investment group, but did not mention the fund. It will be led by James Kiggen, who previously focused on growth-stage and late-stage cleantech deals for AllianceBernstein. For example, he worked on A123Systems and Powerspan. The Blackstone fund will follow a similar model which is more venture capital than buyout — with average investments of between $30 million and $50 million.
peHUB had reported back in May that Blackstone may begin raising industry sector-specific funds."
John Cook: Venture Capital: Layoff was the spark that ignited startup
"Nathan Casey doesn't think of himself as a big risk taker. But when word came last winter that he would be losing his job as a vice president at Washington Mutual, the 27-year-old newlywed decided the time was right to take the startup plunge.
Casey hooked up with two friends from the Seattle bank who also were slated to lose their jobs and hatched Jobvana – a social networking site that tries to help people find local service providers.
"It was the biggest kick in the pants to get us going," Casey said of the layoff in February. Without it, Casey said, he probably would not have struck out on his own.
But with severance check in hand and a little startup capital from the co-founders, Casey is pushing on. He just landed $500,000 from Seattle angel investor John Chapple and expects to unveil the first public test of the Web service this weekend.
Casey said he left WaMu on good terms and doesn't hold hard feelings. But a layoff does provide extra motivation.
"When you're laid off, there is a feeling of disenchantment from working for big corporations – it's like you're woken up and you look around and re-evaluate the benefits of a corporate job and re-examine your own value, and if you're being utilized to the fullest," he said."
Casey hooked up with two friends from the Seattle bank who also were slated to lose their jobs and hatched Jobvana – a social networking site that tries to help people find local service providers.
"It was the biggest kick in the pants to get us going," Casey said of the layoff in February. Without it, Casey said, he probably would not have struck out on his own.
But with severance check in hand and a little startup capital from the co-founders, Casey is pushing on. He just landed $500,000 from Seattle angel investor John Chapple and expects to unveil the first public test of the Web service this weekend.
Casey said he left WaMu on good terms and doesn't hold hard feelings. But a layoff does provide extra motivation.
"When you're laid off, there is a feeling of disenchantment from working for big corporations – it's like you're woken up and you look around and re-evaluate the benefits of a corporate job and re-examine your own value, and if you're being utilized to the fullest," he said."
Tuesday, August 05, 2008
Report: Comcast Acquires DailyCandy for $125M - WoW
" Comcast clearly has some deep pockets.
When they're not hiring lawyers to do battle with the FCC over network management issues, the company is apparently looking to invest in newsletter businesses.
The cable provider announced Tuesday that it had beat out media conglomerate Viacom in a bid to buy DailyCandy. The final check came out to a whopping $125 million.
When rumors of Comcast's interest in the company surfaced several months ago, bids were valued at around $75 million, according to Silicon Valley Insider.
DailyCandy was founded in 2000 as a New York-based daily newletter. It has since expanded to a number of major American cities, including Boston, Chicago, Dallas, Miami, Los Angeles, Philadelphia, and San Francisco. In 2006, the company went international by adding London to the list."
When they're not hiring lawyers to do battle with the FCC over network management issues, the company is apparently looking to invest in newsletter businesses.
The cable provider announced Tuesday that it had beat out media conglomerate Viacom in a bid to buy DailyCandy. The final check came out to a whopping $125 million.
When rumors of Comcast's interest in the company surfaced several months ago, bids were valued at around $75 million, according to Silicon Valley Insider.
DailyCandy was founded in 2000 as a New York-based daily newletter. It has since expanded to a number of major American cities, including Boston, Chicago, Dallas, Miami, Los Angeles, Philadelphia, and San Francisco. In 2006, the company went international by adding London to the list."
Sunday, August 03, 2008
Techcrunch: We Know How Many Kindles Amazon Has Sold: 240,000
"Ever since Amazon launched the Kindle last November, we’ve been wondering about just how successful it’s been. The electronic book initially sold out and supplies have been tight. The Kindle is such a small part of Amazon’s overall business that the company does not break out how many it’s sold. But we found out anyway: 240,000 Kindles have been shipped since November, according to a source close to Amazon with direct knowledge of the numbers.
Doing a little back of the envelope math, that brings total sales of the device so far to between $86 million and $96 million (the price of the device was reduced to $360 from $400 last May). Then add the amounts spent on digital books, newspapers, and blogs purchased to read on the device, and you get a business that has easily brought in above $100 million so far. (Each $25 worth of digital reading material purchased per Kindle, add $6 million in total revenues)."
Doing a little back of the envelope math, that brings total sales of the device so far to between $86 million and $96 million (the price of the device was reduced to $360 from $400 last May). Then add the amounts spent on digital books, newspapers, and blogs purchased to read on the device, and you get a business that has easily brought in above $100 million so far. (Each $25 worth of digital reading material purchased per Kindle, add $6 million in total revenues)."
Saturday, August 02, 2008
Inquisitr: Introducing the Best Buy Vending Machine
"Next time you forget your headphones on travel day, you may be able to just stop by the vending machine. The Best Buy vending machine, that is.
Amidst the overpriced snacks and beverages, Best Buy has rolled out this automated electronics dispenser at the Dallas-Fort Worth Airport, the Dallas Morning News discovered. Inside everything from blank discs to headphones and even a full-fledged iPod awaits you — if you don’t mind, of course, paying the presumably inflated price.
Wonder if there’s a button to get an unhelpful store associate, too."
Amidst the overpriced snacks and beverages, Best Buy has rolled out this automated electronics dispenser at the Dallas-Fort Worth Airport, the Dallas Morning News discovered. Inside everything from blank discs to headphones and even a full-fledged iPod awaits you — if you don’t mind, of course, paying the presumably inflated price.
Wonder if there’s a button to get an unhelpful store associate, too."
Friday, August 01, 2008
DealBook: Are Tech I.P.O.’s Necessary?
"Technology bankers in Silicon Valley must be really bored these days. Not a single technology company went public in the second quarter of this year, according to the National Venture Capital Association. That is the first tech-free I.P.O. quarter since 1978.
But the drop off in tech-related offerings may stem from advancements in the field as much as problems with the markets, argues Chris Thompson in Slate."
But the drop off in tech-related offerings may stem from advancements in the field as much as problems with the markets, argues Chris Thompson in Slate."
CNET News.com: Green-tech firms thirsty for seed capital
"With all the venture capital money going to clean tech, it's easy to think that it's the dot-com bubble all over again. There's certainly a whiff of that gold rush mentality. But the inherent differences between the Internet and the energy business get clearer every week.
Today's installment is the mismatch between venture capital and clean tech--this time, at the small side of the money spectrum."
Today's installment is the mismatch between venture capital and clean tech--this time, at the small side of the money spectrum."
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