Tag Archives: Funding

We recently had a chance to sit down with recently funded CEO Brian Wong, to find out more about what he’s working on with Kiip.me

Brian was recently funded by True Ventures and has had an amazing couple of weeks. Being the youngest to be funded by True Ventures, Brian said that he is looking forward to what is to come, and excited to to be launching at the end of the year.

Thanks to @KickLabsSF for sharing the space, and @Brian_Wong for the interview! We look forward to many more to come!

*Photo by www.RyanChuaPhotography.com

Startup funding is a major concern for many entrepreneurs, so it’s always a welcome relief to learn of organizations that are still ready, willing and able to help out on the monetary front. Chicago-based group ScaleWell is currently accepting applications for their first installment of their grant program, rewarding $1000, two months of work space in downtown Chicago, and mentorship from local vets in the startup business.

Several trustees in Chicago have donated to the program, acting as caretakers towards the preservation of Chicago’s innovative startup scene for technology. One such trustee, Sean Corbett, is a graduate of TechStars Boston, having experienced this type of environment designed in helping an entrepreneur grow his idea and business. Read below for more details, and click here to apply.

ScaleWell was created to assist Chicago’s startup scene – a community without a dedicated early-stage funding program like the YCombinator and TechStar-esque programs supporting other non-coastal cities like Boulder, Austin, Atlanta, and Philadelphia. Trustee Sean Corbett – a graduate of TechStars Boston and Chicago resident – expressed the importance of support for small ventures: “Mentors from the TechStars program provided invaluable insight and I hope ScaleWell can provided a similar resource for Chicago companies.” ScaleWell also hopes the simple act of consistently recognizing and cultivating innovative ideas in Chicago should encourage more potential entrepreneurs to explore starting new ventures.

Credit: Shutterstock

How much is Twitter worth? Raise pinky to lip…

According to a new report by Michael Arrington at TechCrunch, Twitter is currently worth 1 beeeeellion doll hairs.

The company is rumored to be closing an additional round of funding estimated at $50 million, which will purportedly place Twitter at a $1 billion valuation as a result.

Earlier this year Twitter closed a round of $35 million in a round led by Benchmark Capital and Institutional Venture Partners, which valued the company at $250 million.

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I’m a big fan of BlogHer and I’m speaking on a panel at their Chicago conference this summer. So I was thrilled to hear that the organization “for women who blog” has grabbed a third round of funding for $7 Million. The new round is financed by two current investors, Venrock and the Peacock Equity, and new investor Azure Capital.

BlogHer CEO Lisa Stone told Boomtown that

“This is a true grassroots effort that is shows that growing influence women in social media,” said Stone. “We want to focus on taking advantage of that growth and momentum with this new funding…We have been trying to create a place for women to participate in social media with civil respect and also to engage readers.

BlogHer was founded in 2005 by Lisa Stone, Elisa Camahort Page, and Jory Des Jardins. They run their popular conferences, including the large bi-coastal BlogHer and the traveling BlogHer Business events, as well as an advertising network and the social networking site.

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by Michelle Lentz

Magnify.net is a service that allows you to create your own video channel, showcasing videos from across the Web, as well as your own Webcam captures. Magnify offers a free version and a more in-depth Pro version for content enthusiasts, online communities, and small businesses. Additionally, Magnify offers an Enterprise version for larger corporations.

For most of us though, Free is all we need. The free version allows you to build your channel, capture videos from your webcam, find videos from the more popular video sharing sites, and social networking integration. There is also an ad inventory share of 50/50, which is nice. With the free version, you retain control over your site name, URL, and design (including CSS) and can upload twenty 50-MB files per week.

The startup has raised about $750,000 in Series A1 financing, in addition to $1 million raised earlier this year. According to the Silicon Valley Insider,

Innovation Ventures led the round, and all major investors returned, including RoseTech Ventures, NextStage Capital, Ogden Capital, and individual angel investors. Magnify also took on some debt issued by Vencore.

Magnify’s clients include Taste of Home Magazine, which uses Magnify to power its Web video site. All told, almost 47,000 sites use Magnify, which is on track for 30 million video impressions this month.

Magnify.net has around 10 employees and is based in New York City.

More at CenterNetworks.

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Contact Michelle with your news, apps, and events via email at michelle[at]writetech.net, Twitter, Pownce, or FriendFeed. Visit Michelle at Wine-Girl.net and Write Technology.