shameless rumormongering

Rumors & Acquisitions: What Happens to Zach Klein’s Cabin Now?

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NO FUNDING FOR PRESENTS. Last week, a source told Betabeat that outdoor advertising disruptor ADstruc was running low on its Series A funding and would have to raise another round soon.

Not true, says ADstruc’s John Laramie. “We raised $1.1m on September 27th 2010, which means we would have had to burn $90,000 a month for a team that was just four people as of a month ago to be officially out of money,” he said in an email. “ADstruc isn’t even close to spending that much money on a monthly basis. We couldn’t be more pleased with how and where we have invested our money and the great results we continue to see.” However, Mr. Laramie had promised Betabeat a present. We never got said present. Also, when we asked if this meant ADstruc was not raising a round, Mr. Laramie stopped responding. The company is now up to six people and hiring for three positions. Read More

shameless rumormongering

Rumors & Acquisitions: The GlassDoor Edition!

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THANK YOU GROUPON, FOR REMINDING US OF THE GLORY THAT IS GLASSDOOR.COM. Groupon, the all-star white-hot unstoppable brilliant daily deal startup that launched a thousand clones, is being sued by Chicago employees for abusive working conditions (think “sales staff cries all the time”). Nevermind that Groupon is the PointCast of 2011–”I don’t understand how everyone isn’t vomiting in their mouths over Groupon,” one exhausted founder told Betabeat a short time ago–let’s talk about GlassDoor. The all-anonymous, all-unverified rumormongering-est site of them all, a thorn in the side of employers who are forced to endure slander or pay GlassDoor to clean up their profiles, and a blight on our eyes as we navigate its rabbit hole-like interface in search of smack talk. Read More