Venture Capitalism

Language Learning Startup Voxy Raises a $4 M. Round from ff Venture Capital, Contour, and Seavest

Gollash__P

Voxy, the New York City-based language learning startup that launched at TechCrunch Disrupt in 2010, is in the process of raising a Series A-2 round of equity financing. In a Form D filed with the SEC today, the startup indicated that it had already closed $2.3 million towards its $4 million goal from previous investors including ff Venture Capital, Contour Venture Partners, and Seavest Capital Partners, which all participated in Voxy’s Series A.

Founder and CEO Paul Gollash told Betabeat that Voxy plans on announcing two more “exciting” institutional investors in the coming weeks. The round was actually oversubscribed, “But we’ll limit the demand and allocate what’s available as best we can,” said Mr. Gollash, noting that he didn’t want to raise more capital than was necessary. Admirable restraint in these frothy times. Read More

The Start-Up Rundown

Start-Up News: Early Reddit Employee Faces Up to 35 Years in Jail for Downloading 4.8 Million Journal Articles

Mr. Swartz. (Photo: Facebook)

AARON SWARTZ ARRESTED. “Shocking news: Moments ago former Demand Progress Executive Director Aaron Swartz was indicted by the US government,” Demand Progress’s David Segal said in an email blast yesterday. “As best as we can tell, he is being charged with allegedly downloading too many journal articles from the Web. The government contends that downloading so many journal articles constitutes felony computer hacking and should be punished with time in prison.” Mr. Swartz helped create RSS and whose company was once bought by Reddit. He faces up to 35 years in prison and $1 million in fines and pleaded not guilty. Eeepo. Why he wanted 4.8 million journal articles is beyond us. There is a petition for signing and you can donate here.

GROUPME ON THAT PHONE 7. Last week GroupMe released a preview–”meaning only a few features are available with more to come”–of its Windows Phone 7 app. “You may not hear a lot about the whole WP7 platform compared to others BUT fascinatingly it has become the second most common request to have from GroupMe users,” a PR rep writes. We were just talking to someone about how WP7 is kind of indie-cool now. Read More