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Funding Fun

Funding Fun

With New B Corp. Certification, Etsy Raises $40M for International Growth

Mr. Dickerson (flickr.com/eschipul)

DIY-ers, you may now begin crocheting celebratory pillows and other yarn finery: E-commerce site Etsy, also known as Amazon for Twee People, announced today that it has raised a $40 million Series F round from investors, including Union Square Ventures and Accel Partners.

In a lengthy blog post, Etsy CEO Chad Dickerson strayed from the typical tech funding announcement, instead choosing to first focus on Etsy’s growth and continued commitment to making the world a better place through business. The DUMBO-based startup has scored a B Corporation certification, which “gives [them] a framework to measure Etsy’s success against rigorous values and responsible practices as [they] scale as a company.” Read More

Funding Fun

Media Startups, Rejoice: There’s a New Digital Media Seed Fund in Town

Mr. McGlade (linkedin.com)

New York is arguably the biggest media hub in the world, and if Mayor Bloomberg has anything to say about it, it’s also a tech haven worthy of rivaling the Valley. So naturally, along with the host of media-related startups that have been cropping up across the Alley, we’re also getting a new seed fund. Helmed by ex-Medianet CEO Alan McGlade and VC Michael Yang, it’s called DEV (Digital Entertainment Ventures, not to be confused with the abbreviation for “developer”), and it launched today to help rookie media companies via funding and advising. Read More

Funding Fun

Investors Get In Bed with InBed.me

Diego Saez-Gil, InBed.me's cofounder and CEO

Everyone knows that opting for hostels instead of hotels can save you tons of money on travel costs, but for the more anxiety-prone among us, sometimes the fear of having to sleep three feet away from a stranger can outweigh a hostel’s benefits. InBed.me, a New York-based social booking site for hostels, beds and couches, wants to take the terrifying mystery out of hostel stay by allowing users to meet and interact with others who will be traveling and staying in the same hostels. Read More

Funding Fun

CityMaps Scores $2.5M for Hyperlocal Social Map Tool

Elliot Cohen, founder and CEO of CityMaps. (linkedin.com)

New York startup CityMaps thinks Google Maps needs a makeover, or at least some lessons on how to be social. The tool incorporates data behind several popular companies like Twitter, Foursquare and Groupon, and mashes them up into one easily-readable guide to your city. Today, TechCrunch reported that CityMaps closed a $2.5 million Series A round earlier this year, backed by investors Dave Leyrer and 360i.com president Dave Levin. Read More

Funding Fun

Kickstarter Hits 10,000 Projects With $60 M. Raised – Funding Accelerating Fast

New York’s finest funding platform, Kickstarter, has helped its 10,000th project secure backing this month. On July 6th a Toledo, Ohio-based band called Citizen raised $830 from 28 backers to produce a new seven-inch. This was $30 more than the band had hoped to raise and came mostly from pledges of $30 or less. It was micro-financing for creative expression at its finest. Read More