RIP

Internet Resurrection: Digg Will Launch a New and Improved Version of Google Reader

Sad. (Screenshot: Google Reader)

Fretful newshounds and anxious bloggers can stop sitting shiva. Digg, or rather Betaworks’ reboot of old Digg, wants to resurrect yet another ailing online mainstay. On its blog this afternoon, the startup announced it would be building a reader to replace the “much-loved, if under-appreciated” Google Reader.

In the post, Andrew McLaughlin, the former vice president of Tumblr who joined Betaworks as an entrepreneur-in-residence last summer, said Reader’s “early social features were forward-thinking and hugely useful.” However, as with the revamped Digg, the new iteration won’t look exactly like its predecessor: Read More

shameless rumormongering

Rumor Roundup: The Winklevoss Twins Take Hollywood and Branch Moves Up and Out

Hukkster Holiday Party Hosted By Louise Roe And Founders Katie Finnegan And Erica Bell

Lala Land When you plunk down $18 million in hard-won settlement earnings on an 8,000 sq. ft. manse with “a jetliner view of L.A.” you don’t just around on the couch watching Bravo. Especially not if your names are Cameron and Tyler Winklevoss.

The strapping venture capitalists recently hosted two parties at their new Hollywood Hills home. The first was feting Katie Finnegan and Erica Bell, cofounders of the fashion startup Hukkster, which recently scored a $1 million seed round from the duo. Guests included actor Jason Lewis (Samatha’s boyfriend to the rest of us).  Read More

startup rundown

Startup News: Two Regular New Yorkers Disrupt Christmas and Alexis Ohanian Just Wants to Park His Car

"Leave me alone." (Photo: Twitter)

r/findmeaparkingspace ParkWhiz, the Chicago company that enables users to find and reserve guaranteed parking spaces before reaching their destination, today announced that it has closed a $2 million Series A round of funding led by Hyde Park Venture Partners. Reddit’s Alexis Ohanian also took place in the round along with Hyde Park Angels, Amicus Capital, and others. In a press release sent to Betabeat, the company said that since its launch in 2006, it has driven $10 million in parking revenue to parking operators and provided access to 3 million parking spaces nationwide.

Fab Goes To India Jason Goldberg, the founder and CEO of Fab, took to his personal blog yesterday to announce that his company had acquired new funding. Times Internet, the digital arm of The Times of India Group, India’s largest media company, has chosen to invest in the company. Mr. Goldberg notes in the post, “As part of this investment Fab will be working with Times Internet to explore and execute on our India market strategy in the coming years.” Since launching in June 2011, Fab has raised over $150 million from investors. Read More

Movers and Shakers

Betaworks Poaches Another NYC Startup Exec, Aviary’s Paul Murphy, for Entrepreneur-in-Residence Role

Mr. Murphy (Photo: Twitter)

Looks like startup non-incubator Betaworks is in a hiring frenzy. Days after announcing it had snapped up former Tumblr VP Andrew McLaughlin, the company is making news again with another Entrepreneur-in-Residence hire.

Paul Murphy, COO of Aviary, is leaving his post at the photo editing startup to join the Betaworks folks at their sweet Meatpacking office. Read More

Movers and Shakers

Betaworks’ New Entrepreneur-in-Residence Andrew McLaughlin Reminisces About His Time at Tumblr

Mr. McLaughlin

On his blog this afternoon, Andrew McLaughlin, vice president of Tumblr, revealed that he would be leaving the micro-blogging platform after just nine months to join Betaworks, an early Tumblr investor, as an entrepreneur-in-residence. Investment firms often tap employees at portfolio companies for that role. Recently, for example, Andreessen Horowitz poached Foursquare vice president Tristan Walker for an EIR position out in Silicon Valley, although Mr. Walker had clocked almost three years at Foursquare at that point.

In an interview with Betabeat, Mr. McLaughlin assured us that the move was “on friendly terms.”  Read More

Acquisitions

Mobile Payments Startup Venmo Acquired by Braintree

Mr. Kortina (Photo: Twitter)

A source familiar the deal told Betabeat yesterday that Venmo, a New York City-based mobile app that lets you split bills with friends, is in the process of being acquired by Braintree, a Chicago-based online payments company and PayPal competitor. The New York Times broke the news this afternoon, reporting a $26.2 million acquisition price. On the company blog, Venmo said the deal closed in mid-June and that its payment-sharing service “will remain unaffected” and continue to operate as a wholly-owned subsidiary.

Venmo and Braintree share an investor, Palo Alto powerhouse Accel Partners, which also invested in Facebook.

The two startups do seem to be in the midst of a mutual appreciation society. Last week, Braintree’s community manager Kristi Lynch tweeted, “I know it sounds weird, but the @Venmo app makes me wish I owed more people money.” Two Venmo employees favorited the tweet.

Venmo was founded in Philadelphia in 2009 by two former college roommates, Andrew Kortina and Iqram Magdon-Ismai. The duo eventually moved the company to New York City, where Venmo become one of the early stars in the city’s growing tech orbit, embraced by early adopters for making it easier to split the cost of dinner, drinks, monthly cable bills–or any of the innumerable costs of urban life–over their phones. There were even cutesy, customizable receipts, eagerly tweeted out by the Alley in-crowd. Read More