House Party does not know how to write a press release. “House Party, Inc., a leading social media company that combines digital media and word-of-mouth marketing with brand-inspired, in-home events”? No. No, no. How about, “House Party, a company that sends you free shit for your house party, raises $5.3 million Series C to send you free shit for your house party”?
the startup rundown
Local agency Mr. Youth was founded in 2002 by Matt Britton to focus on a new class of marketing driven by social media and interactive experiences. It grew quickly, reaching 140 employees and $25 million in revenue this year, even spinning out a startup, Crowdtap, which went on to raise $7 million in funding.
Today Mr. Youth was acquired by LBi International, the world’s largest independent global marketing and technology agency with operations in 16 countries. With earn outs, the transaction valued Mr. Youth at between $40 to $50 million dollars.
FUNDING FUN. Who is surviving the seed stage slaughter? General Assembly, obviously, which raised $4.25 million from some Russian billionaire and other folks. Crowdtap, the on-demand user testing service, just raised a $7 million Series A financing round led by the Foundry Group. “The funds will be used to help continue the rapid growth we have experienced in our first couple years and continue to build a world class platform to help brands connect to, manage and market with their influential consumers.” AppFirst, the “next generation application problem resolution system for the application performance management market,” announced it closed its Series A for $4 million, led by Javelin Venture Partners. “FirstMark Capital and First Round Capital, original backers of AppFirst, also participated in the financing agreement.”
STEALTH RUMBLINGS. Philip Kaplan, a.k.a. Pud of FuckedCompany.com, just sold his startup TinyLetter to MailChimp and is banging away at another, Fandalism, which is some kind of tool for musicians of all types. Fandalism has 197 fans on Facebook, but when’s it coming out? “Within the next 4 weeks-ish, hopefully. Sorry for the delay.”