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The Lean Startup TechStars Edition #leanstartup (1/3)
Techstars NY, which is more selective than the Ivy League, has chosen its first class of eleven startups. For those who are keeping track, that means one more company slipped in than was originally planned. It’s an interesting range of companies. Two companies have yet to write a single line of code, four have raised some funds already, one is generating a lot of revenue and another two are actually profitable. “This definitely skews towards much later stage companies than Techstars is known for working with,” says managing director David Tisch. Techstars NY Announces Inaugural Class
Milewise is an up-and-coming New York startup that’s currently in stealth mode (its service has been invite-only since at least the first time I caught wind of the company, which must have been in the summer of 2010). According to this SEC filing, they’ve just raised $1.5 million in debt funding. We don’t know much about the company, except that it was co-founded by Vinay Pulim, who previously started Isovia (acquired by Motorola) and Reble.fm (acquired by Playlist.com) and was most recently senior software engineer at Hunch. Stealth Milewise Raises $1.5 Million To Help People Cash In On Reward Programs
FT Magazine - Facebook’s grand plan for the future Mark Zuckerberg is pacing before a crowd in Facebook’s Palo Alto, California, cafeteria just before lunch on a Wednesday in November. Fit and jovial, with pale skin and curly brown hair, his boyish face gives away his 26 years. “Zuck”, as friends call him, is wearing what he always wears: a grey T-shirt with an embroidered Facebook logo, blue jeans and tennis shoes. With this perennially casual demeanour, he is showing off new technologies to a few hundred employees, partners and the press. “It’s a good day to launch some stuff,” he says with a laugh. And with that, Zuckerberg introduces Facebook Deals, a new service that in a matter of days will transform the way local businesses reach consumers as they walk down the street.
The Future Of Facebook - Forbes.com
Why Games Are the Killer App for Social Networks Ravi Mehta is vice president of product for Viximo, where he drives the product strategy for Viximo’s social game distribution platform and helps social networks monetize via social games and virtual goods. For more information on virtual goods, visit his blog, Virtual Goods Insider, and follow him on Twitter. In 2009, an estimated $2.2 billion in virtual goods were sold to consumers globally, and that number is expected to rocket to over $6 billion by 2013. Although virtual worlds and MMOs have historically driven the growth in virtual goods, today the fastest growing segment is social games. Social games not only represent a lucrative new revenue channel for social media sites but they also signal a fundamental change in the structure of the social media industry.
How Online Retailers Can Leverage Facebook's Open Graph Formerly a Principal Engineer at Amazon, Darren Vengroff is Chief Scientist at RichRelevance where he helps retailers like Overstock and Sears create a more personal shopping experience for consumers. You can read more from Darren on the RichRelevance blog. Amazon and Facebook are making headlines with the launch of a new application that allows shoppers to receive product recommendations based on Facebook preferences. Once users enable this app, Amazon is able to monitor their activity on Facebook, including what pages they like, and use that information to recommend products they may be interested in purchasing.
Docs for Facebook
The valuation jumps from round to round were orders of magnitude until Facebook hit a $15 billion valuation, resulting in tiny dilutions accompanying each financing. Note also that with every financing, the Silicon Valley echo chamber thought the investors were nuts to offer such rich valuations. It's now clear the echo chamber was wrong every time; the investors were quite savvy, as a matter of fact. I don't know exact numbers, but I believe Facebook's equity sales to investors were roughly: Sep 04 -- 10% sold for $500k. ($5mm valuation -- Peter Thiel, Angels) May 05 -- 12.7% sold for $12.7mm. ($100mm valuation -- Accel) Adam Rifkin's answer to How did Mark Zuckerberg retain 26% of equity after so many rounds of financing
Jeremy Liew invests primarily in the Internet and mobile sectors, with a particular interest in social media, commerce, gaming, financial and methods for increasing monetization. He joined Lightspeed in early 2006. These are interesting times in the social gaming industry. Two weeks ago Disney acquired Playdom, and last week Google acquired Slide. Just like that, two of the largest social game publishers have become part of larger companies. This activity all comes on the heels of EA’s acquisition of Playfish late last year. Why the Social Gaming Biz is Just Heating Up
Click image to enlarge. The panic at absurd rumors of Facebook’s demise over the weekend, coupled with the Goldman Sachs Facebook investment frenzy at the beginning of this year got us thinking; Did initial Facebook investor Peter Thiel, who invested 500K early on and still thought Facebook was undervalued at $30 billion back in September, actually make the most impressive investment call in tech history? So artist Audrey Fukuman, our rockstar intern Rip Empson and I set out to capture what the Facebook valuation trajectory looked like. And while trudging through all the speculation on this has raised some discrepancies concerning exact valuations, (I’m seeing anything from $4.9 million to $5 million for the Thiel financing but rounded up for consistency’s sake) I did my best to capture the zeitgeist through consensus, leaning heavily on reports on TechCrunch through the ages. The Rise Of Facebook’s Valuation From 2004-2011 [Graphic]
Subject: Privileged and Confidential – SecondMarket’s Facebook Auction UpdateTo Facebook market participants:Thank you to those who participated in this week’s SecondMarket auction for Facebook shares. The auction was successful and fully cleared at a per share price of $28.26. Next week, the floor price will be $26.25 and we will require a minimum sale of 25,000 shares. Facebook Shares Hit $28.26 Per Share, That’s a $70+ Billion Valuation
Alex Rampell is founder and CEO of TrialPay, the leading provider of transactional advertising technology that uses the efficiencies of the web to pair online shoppers with ideal offers at every stage of the purchase process. With Advertising Week upon us, many marketers at the NYC conference will be examining the new ways they can reach customers on Facebook. While Facebook is now the largest display advertising site on the Internet, there are many other ways besides display ads for companies to reach consumers on the network. One of the most effective new ways to advertise is inside social games. HOW TO: Advertise Inside Social Games on Facebook
Some years back, around the time the first generation Digital SLRs made their appearance. the photo bug bit me hard. Of course, every “serious” photographer eventually finds a speciality – mine was the area of concert photography. I liked the scene, loved the exaggerated stage lighting, and the unique expressions coming from musicians. Armed with a PhilMusic.com media pass, I prowled the backstages and mosh pits of some of the more raucous music events in Manila in the late 90s and early 2000′s. I would shoot several times a week, thinking I was doing my bit in documenting the events of that period. My weapon of choice was a large and heavy camera rig, a Canon SLR (I eventually settled on a Canon 40D) and my favorite lens was the formidable Canon 70-200mm f/2.8 L IS zoom – superb low light optics that was about a foot long weighed a ton or two. The Ayson Chronicles: A Life Online
Facebook to Make Credits Mandatory for All Onsite Gaming Facebook's virtual currency, Facebook Credits, will become the official coin of the realm beginning July 1, 2011. On that day, all social game developers on the Facebook platform will be required to process payments through Facebook Credits. Currently, Facebook Credits is accepted as payment in around 350 apps from 150 developers, including 22 of the top 25 Facebook games.
6 Reasons Why Social Games Are the Next Advertising Frontier Ad spending on social gaming increased 60% since 2009, according to eMarketer. No doubt advertisers have noticed that 56 million Americans are playing social games and that the branded virtual goods market is booming . But more than just social gaming’s growing popularity has gotten attention from advertisers. Social games also represent an environment that is largely conducive to advertising. “Media buyers and advertisers are recognizing that this is what they want,” explained Robert Tomkinson, Playfish’s senior director of global marketing. “What they want is massive reach, they want targeting, they want performance.
Now that Facebook has hit the 300 million members mark and shown that its free service can rope in dough, we have to wonder what will happen to the social networking giant ten years down the road. Here are five possibilities for the future of Facebook. Evolved Gaming Interactivity Facebook has already embraced the allure of interactive gaming -- almost to the point of obnoxious saturation. Five Possibilities for the Future of Facebook - PCWorld
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