Startup Food Chain
Facebook’s recent acquisition of Oculus revealed some cracks in Kickstarter’s armor. It highlighted a number of issues arising from the way backers view their contributions and how Kickstarter campaigns sell themselves to backers. Coverage of Oculus’ Kickstarter debacle spanned from misunderstanding the issue completely to focusing on the outrage.
But much of Read More
Since GrubHub Seamless went public with a valuation of $2.67 billion, venture capitalists are racing to find the next hit food delivery app for their portfolios.
According to the report on the CB Insights blog, investments in food tech in the first quarter of 2014 (Q1) were the highest they’ve been in five years. Over $200 million went to food and grocery apps during those three months, which was the biggest VC investing boom in over a decade.
Most of these are small, local apps that focus on a particular set of stores and services, whereas GrubHub and Seamless are nationwide giants with a combined 25 years under their belts. The two companies merged last year, and served over three million customers nationwide in 2013 alone.
Sharing is Caring
2014 has been explosive year for tech funding. According to a report published this morning by venture capital database CB Insights, VC-backed deals in the first quarter of 2014 (Q1) are at the highest they’ve been since 2001.
The sudden spike in funding is driven largely by a small handful of major deals Read More
Rideshare app Lyft announced last week that they’ve raised a whopping $250 million in Series D funding, putting them at a total of $332 million in venture capital investment.
Though this puts them slightly ahead of Uber, which has $307 million, it doesn’t necessarily mean that Lyft is ahead in the market. We can’t know for certain Read More
One of tech’s most prolific venture capital firms, Andreessen Horowitz (or “A16Z”), has invested a sizable $40 million in image sharing giant Imgur, Betabeat has learned.
Imgur has been the subject of acquisition rumors for the past year, but has never taken outside money, regardless of how successful they’ve been. According to Imgur CEO and founder Alan Schaaf, Imgur has been approached by almost every VC on the map in the past five years.
“We’ve always been fighting them off,” Mr. Schaaf told Betabeat, “and the reason is because we never really found a good fit.”
Cloud storage company Box is headed toward an IPO, and everyone got their first look at their S-1 filing last week. The prognosis is simple: Box has about another year left on its cash reserves, and going public is their best shot at floating a few extra years while they’re in the red.
And of course, as haters are wont to do, one curious Quora user took the opportunity to take shots at Box CEO Aaron Levie.
A Very Brooklyn Incubator
Virtual reality developer Oculus Rift has been acquired by Facebook, and the company’s original backers from Kickstarter are asking, “where’s my share?”
The once supportive community of backers has lit up with frustration and cries of betrayal. Many of these backers are voicing the same complaint: that they won’t see a refund or a return on their investment.
Urban Future Lab, wants to do more than design better dating and delivery apps – it’s on a mission to revolutionize New York City’s energy infrastructure. The new tech startup incubator, which is a project from NYU Polytechnic School of Engineering and NYCEDC, opened its doors this morning in the heart of the Read More
CB Insights released a new report about venture capital financing for the first quarter of 2013, and after a bleak 2012, things are looking up for New York startups. The state beat out Massachusetts for the second time in the last two years on “overall number of deals and funding” (not exclusive to tech companies), placing just behind California.
All the world loves a prodigy, but nowhere more so than Silicon Valley. Investors love to talk about all the exciting ideas flowing forth from the 20-somethings, and it sometimes seems startups are half business, half playroom.
It’s all very exciting if you’re a college kid looking for an alternative to the 9 to 5 grind. But if you’re a technology veteran in his fifth or sixth decade, it looks a lot different. In fact, as Reuters reports, it looks a whole lot like age discrimination run rampant.