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The Alley

The Alley

LIVEBLOG: Facebook Announces Engineering Office In New York City

Facebook announces an engineering office in New York City.

Facebook sent out an email for an invite-only press conference yesterday with some big names attached: COO Sheryl Sandberg, VP of engineering Mike Schroepfer, Senator Chuck Schumer, Mayor Bloomberg, “and other distinguished guests.” According to the Facebook press release, they’re announcing an engineering office in New York in 2012. Let the live-blogging begin! Read More

The Alley

Bnter’s Funding Fallout and the Breakup Fee

lauren-leto

As Betabeat noted a few weeks back, there was a little angst in the New York startup scene recently, after a large and well established company quashed the funding for a smaller, potentially competitive start-up.

The whole story broke over the weekend on TechCrunch. According to several sources in that report, Andrew Parker from Spark Capital got interested in Bnter and approached the company about an investment. Bnter founder Lauren Leto travelled up to Boston and by March, Spark had faxed over a term sheet, unsigned, but with the note that Bnter should consider the deal done. Read More