Fresh Capital

Ignighter Closes $2.4 M. As it Completes Big Series B

Group dating service Ignighter has closed $2.42 million in funding as it works to finish off an even larger series B. For now it’s clear the company is looking to raise at least $4 million in total, although that number may be low.

CEO Adam Sachs declined to comment but we can say that Somak Chattopadhyay of Tribeca Ventures and David Cohen of Techstars are listed as directors on the new filing.

Ignighter is  a Techstars grad and has raised $4.2 million to date. It’s perhaps most fascinating for finding success in India. Their idea for group dates was a mild success in America, but a huge hit in India, where more modest social norms mean group dates are more common for young, unmarried people. “Here we are, a few Jewish guys sitting in Union Square, and we might have accidentally revolutionized the dating scene in India,” Mr. Sachs told the NY Times

What Could Guo Wrong?

Jerry Guo: What I Did Was ‘F-ed Up’ and I Must Leave for Grouper to Survive

Jerry Guo and the Dalai Lama

Jerry Guo, international rules-bending journalist turned startup CEO, just issued a public apology on his Tumblr. The apology is addressed to the startup world and to the CEO of TechStars company Ignighter, Adam Sachs. Mr. Guo told Mr. Sachs he was a journalist, visited Ignighter and asked lots of questions about the business. Mr. Guo wanted intel on the competition because he was starting his own company, Grouper. “I didn’t tell Adam this, and met him under false pretenses,” Mr. Guo writes.

In the wake of the sudden attention after Betabeat’s article earlier this week, and Gawker’s subsequent interest, Mr. Guo has left Grouper in what he says was a mutual decision with his co-founder and CTO Michael Waxman. Read More