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Posts Tagged ‘Kleiner’

SoundCloud Raises $50 Million Round Led By Kleiner Perkins

January 2nd, 2012 01:00 admin View Comments

SoundCloud has raised a new fundraising round led by Kleiner Perkins Caufield & Byers. The amount was not released but TechCrunch understands it to be $50 million. This would give the company a $200 million pre-money valuation. GGV Capital also participated in this round. The social sound platform which has seen high growth in the past year will use the funding to expand more rapidly, especially in the US. Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. She already serves on the board of Square.

SoundCloud’s B-round funding was from Union Square Ventures and Index Ventures, and Doughty Hanson Technology Ventures did the A-round.

What signal does this send? Well, put simply, SoundCloud is gunning to do what YouTube did in video, but for sound. There are several other pretenders to this throne, like Audioboo, but SoundCloud has headed in this direction most convincingly so far.

Source: SoundCloud Raises $50 Million Round Led By Kleiner Perkins

Square Closes That $100 Million Round, Mary Meeker Joins Board

June 28th, 2011 06:21 admin View Comments

It’s official. Jack Dorsey’s Square has joined the billion dollar valuation club. The mobile payments startup closed a $100 million series C led by Kleiner Perkins, a story we broke a few weeks ago. The new round values Square above $1 billion.

Tiger Management is also an investor. And Mary Meeker, the former Morgan Stanley Internet analyst who is now a partner at Kleiner, will get a board seat. She will join other new board members Vinod Khosla and Larry Summers.

Source: Square Closes That $100 Million Round, Mary Meeker Joins Board

The State Of iFund: 3 Years, 25 Companies, 2 Exits, Over 300 Million Downloads This Year

June 23rd, 2011 06:42 admin View Comments

Today at their offices in Menlo Park, venture capital firm Kleiner Perkins Caufield & Byers is celebrating the third anniversary of the iFund. Technically, the fund started in March of 2008 alongside the first iPhone SDK, when the firm announced that it would be investing $100 million in iPhone applications made by third-party developers. That initial fund went so well that just two years later, they decided to double-down, pouring another $200 million in as the iPad was just about to launch. So where does the fund stand now?

Three years in, Kleiner Perkins has whittled down the 5,000 business plans they’ve received to 25 companies they’ve actually funded. Of those, seven are still in stealth mode, and two have had exits: ngmoco and Pelago. The apps in the fund saw some 100 million downloads in 2010, and they anticipate seeing over 300 million downloads by the end of this year. More importantly, the apps will generate over $250 million in mobile revenue this year, Kleiner says. And they’ll have more than 150 million active monthly users.

The firm is also announcing one new addition to the iFund today: Worksmart Labs. The company focuses on fitness technology, attempting to make working out fun. They have a group of apps available right now which have seen over six million downloads already. And interestingly enough, all of the apps are Android-only for now. Yes, the iFund features some companies decided more “aFund”-esque as well. Kleiner is the lead investor in their seed round.

The iFund has been such a success for Kleiner that they also decided to launch an “sFund” last year to capitalize on the rise of social applications (though some would say too late). Kleiner will be holding an sFund Gamification event next week in San Francisco.

Source: The State Of iFund: 3 Years, 25 Companies, 2 Exits, Over 300 Million Downloads This Year

Read Bing Gordon’s Poem About TechCrunch Disrupt

May 24th, 2011 05:08 admin View Comments

Aside from being a partner at Kleiner Perkins Caulfield and Byers, Bing Gordon writes tech related poetry. When our very own Mike Arrington asked him to write one up on the fly about 45 minutes before he went on stage, this is what he came up with (Disclosure: it’s pretty good).

Chris Dixon apparently has a hunch
That it’s only Internet news if it’s in TechCrunch –
And you can verify this on Wikipeida:
Ashton Kutcher is the Charlie Rose of social media.

The meat-packing district is the new South of Market
So VCs are bringing cash there to park it.
If you make a name for yourself, you’ll get Klout perks
And John Borthwick has proven that Beta actually works.

Rent the Runway, Gilt and Etsy have the New York smarts
To redefine the way we all fill up our shopping carts –
And now even Stanford will put up with Silicon Valley censure
And open a campus to provide entrepreneurs for Union Square Ventures.

You can prove you’re hip enough, and that you’re there
Because Disrupt has a custom check-in on 4 Square
Even Michael Bloomberg has gotten into the act
To support Kristina Salen’s Quest to Learn so education can be hacked.

The Big Apple was overwhelming in 1973
When I arrived from Michigan, it was like OZ to me.
This is a paean to Manhattan, on an Arrington dare –
Because, if you can make it here, you can make it anywhere!

I’m thinking Jay Z collaboration.

Source: Read Bing Gordon’s Poem About TechCrunch Disrupt

Energy-Management Startup Hara Soaks Up $25 Million In Venture Funding

May 17th, 2011 05:58 admin View Comments

Before companies can do anything about reducing their impact on the environment, they need to measure the damage they are doing. Energy management startup Hara helps them track their efforts to reduce their carbon footprint.

The company announced a new $25 million C round of funding today. Investors included Energy Technology Ventures, Focus Ventures and Navitas Capital, with existing investors Kleiner Perkins, JAFCO and Nth Power also participating. In addition, Kleiner partner Ray LAne is taking a board seat.

Hara last raised $14 million two years ago.

Source: Energy-Management Startup Hara Soaks Up $25 Million In Venture Funding

Kleiner Perkins Leads $9M Round In Apache Hadoop-Based Analytics Platform Datameer

May 16th, 2011 05:08 admin View Comments

Datameer, a startup that offers a big data analytics solution built on Apache Hadoop, has raised $9.25 million led by Kleiner Perkins with participation from Redpoint Ventures. Kleiner partner Ellen Pao will be joining Datameer’s board. This brings the startup’s total funding to $12 million.

Datameer’s Analytics Solution, which integrates the data mining power of Hadoop with a spreadsheet interface, enables business users to run analytics against very large data sets with no programming required. The product is designed to help users with little to computer engineering experience handle massive amounts of data.

Companies using Datameer’s product are those that deal with large amounts of actionable data, including the security software, financial services, telecommunications and Internet research and digital insights sectors.

Datameer has an impressive list of seasoned Hadoop technology veterans leading the charge. Co-founder Ajay Anand was the Director of Product Management for Hadoop and Cloud Computing at Yahoo, and was responsible for driving the development and adoption of Hadoop based infrastructure for large scale data analytics across Yahoo. Fellow co-founder Stefan Groschupf was the founder of Katta, the open source distributed Lucene index project.

Datameer will use the new capital to expand sales, engineering and marketing teams and to drive
adoption of its analytics platform.

Source: Kleiner Perkins Leads $9M Round In Apache Hadoop-Based Analytics Platform Datameer

Meg Whitman Hooks Part-Time Gig With Kleiner Perkins Post Campaign

March 29th, 2011 03:26 admin View Comments

After working at Disney, Proctor and Gamble, being CEO of eBay, running for Governor of California and losing, Fortune is reporting that Meg Whitman will now be joining Kleiner Perkins Caufield & Byers as a part-time strategic advisor.

Whitman joins other politicos Al Gore and Colin Powell in the role, where she will “scope investments and coach startups” at what is prehaps Silicon Valley’s most famous Venture firm. Kleiner recently invested in Twitter, Spotify and Groupon, to throw out a few winners.

Updating.

Source: Meg Whitman Hooks Part-Time Gig With Kleiner Perkins Post Campaign

DRAMA IN TWITTERLAND: Featuring Kleiner Perkins, John Doerr And A Dentist

March 14th, 2011 03:13 admin View Comments

“Kleiner Perkins Already Selling Its Twitter Stock” reads one headline on SAI from Friday, alleging that venture firm Kleiner Perkins Caufield & Byers has been selling stock Twitter stock that they bought only a couple of months ago. “A DISASTER IN THE MAKING” says another lengthy diatribe on SAI.

The allegation? That Kleiner invested in Twitter at a $3.7 billion valuation in December, then turned around and sold some of that stock for a profit just a month or two later, at a $7 billion valuation.

Some people may say, so what? People invest with a profit motive. But Kleiner got into Twitter at a sweetheart deal – paying a valuation hundreds of millions of dollars less than rival firms DST and Providence were rumored to have bid. When you take an investor like Kleiner Perkins, you’re doing it because of their name, and because you expect them not to just flip the stock and bring in random new shareholders. Flipping stock just isn’t done by top tier venture funds.

So the allegation is serious, and reputation damaging. Other startups may think twice before taking Kleiner’s money when they don’t know if Kleiner will stick around or just sell the stock at the first opportunity.

The problem is, the accusations in the articles aren’t true, say multiple sources close to Twitter’s management and investors.

And then there’s the poor theoretical dentist, buying up the Twitter shares with little or no information about the company (and I didn’t miss the irony of Henry Blodget looking out for the little guy investor).

On the one hand, you might have a well-off but unsophisticated investor (a dentist, say), who is buying up shares of the red-hot private companies like Twitter because he’s hearing about them on CNBC and because he’s getting emails from brokers who are telling him they can get him in on the next hot thing.

This dentist may be buying the stock even though he’s so wildly unsophisticated (or careless) that he doesn’t even know how many shares Twitter has outstanding, let alone what the company’s real financial performance looks like.

(Don’t snicker: According to insiders familiar with the situation, these are exactly the sorts of folks who are being pitched Twitter stock these days.)
And, on the other hand, you have the seller–Kleiner Perkins partner John Doerr–who is on the board of Google and basically on the board of Twitter, who knows EXACTLY what he’s selling.

Here’s what really happened.

Kleiner led a $200 million round in Twitter. They were to take $150 million. The remaining $50 million was to be taken by existing investors as well as new investor Insight Venture Partners.

Before the closing Kleiner Perkins decided they only wanted to take $130 million, not $150 million. Insight was happy to take the extra $20 million, and did. Management was fine with this.

Because of a legal complication Insight had to buy the shares from Kleiner Perkins. But they bought them at exactly the same valuation that Kleiner did, so there was no profit.

In other words, this is a huge non-event, and Kleiner didn’t flip the shares. But someone, either a current investor or perhaps one of the investors that was passed on by Twitter, decided to sex this up, a lot, and pass it on to SAI as a story.

Source: DRAMA IN TWITTERLAND: Featuring Kleiner Perkins, John Doerr And A Dentist

Offermatic Raises $4.5 Million From Kleiner Perkins And Top Notch Angel Investors

March 9th, 2011 03:15 admin View Comments

Offermatic, which we dubbed the freak love child of Blippy, Groupon and Mint early on, has secured $4.5 million in funding in a Series A round led by early backer Kleiner Perkins Caufield & Byers.

A group of Silicon Valley investors, including Ron Conway, former AdMob CEO Omar Hamoui and early execs from Facebook and Mint.com, also participated in the round.

Hamoui will also join Offermatic’s board of directors.

The additional capital will be used to hire more people and expand its services for consumers and retailers, Offermatic says.

Launched in beta last December, Offermatic basically delivers personalized savings to consumers based on their spending history. By linking existing credit and debit cards to an Offermatic account, people receive automatic discount offers on products and services, without the hassle of redeeming coupons or vouchers.

The company says, combined with offering one-click automatic rebates, the conversion rate among beta users has been 15 percent or more, which it says is 15 to 30 times higher than the average for online coupons.

Source: Offermatic Raises $4.5 Million From Kleiner Perkins And Top Notch Angel Investors

One Kings Lane Grows 500% In 2010, Takes $23 Million Investment

February 11th, 2011 02:00 admin View Comments


One Kings Lane, cofounded by Zynga CEO Mark Pincus’ wife Alison Pincus, has raised its second round of financing.

And it’s a big one – $23 million in a round led by Greylock Partners and Kleiner Perkins Caufield & Byers.

Kleiner is a previous investor, as is Greylock Partner Reid Hoffman. The size of that previous round was never announced. Previous investors First Round Capital, as well as Hoffman, also invested in this round. As did TriplePoint Capital and Marissa Mayer (this is the first investment by Marissa that we’ve heard about).

The company also says that 2010 sales were up 500% over 2009, and more than 75% of sales come from repeat customers.

One Kings Lane is like Groupon with daily deals, but only handles upscale products for the home. Furniture, bedding, art, stuff like that. I’m a regular customer there, and the good stuff always sells out very quickly each morning.

The Pincus family is turning into a bit of an entrepreneurial dynasty.

Source: One Kings Lane Grows 500% In 2010, Takes $23 Million Investment

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