The Facebookers Will Inherit the Earth
Bad news for the liberally inclined and easily distracted: Today the New York Times offers an inside look at the latest startup looking to disrupt your workday with viral content. Upworthy (which launched in late March) is a high-minded new aggregator designed to share content that is meaningful and important, rather than merely hilarious or Read More
A new report from CB Insights attempts to gather up all the ventures of the roving Facebook Mafia and put a number on how much money these Silicon Valley chosen ones have raised. “For those unfamiliar with the term, the Facebook Mafia refers to alumni of Facebook who’ve gone on to found new startup companies,” the report says.
So how much have these enterprising Facebookers convinced investors to give them? $271 million since 2006, with $130 million of it all in the first half of 2012 (Quora is responsible for $50 million of that). Momentum “appears to be accelerating,” the report says. Doesn’t it always?
Around the time of the demise of Jumo, the social network for nonprofits and activists started by Facebook co-founder Chris Hughes, Betabeat got an email from a source intimately familiar with the social media startup sector. “I’m intrigued by the fact that Facebook doesn’t seem to be proving to have the kind of second-act momentum among early employees that PayPal had, and I wonder why that is,” the source wrote. “I don’t have high hopes for Asana, Quora, or Path either, but maybe it’s too early to make a judgment call.”
With the rise of secondary trading, many Facebook employees have already cashed out. The company’s hefty exodus of early employees has been well-documented. Sarah Lacy, writing for TechCrunch, identified the emergence of a “Facebook mafia” as “early and distinct” last year. But with the Facebook-spawned startups still unproven, is it fair to say that yet?