Posts Tagged ‘brent-hoberman’
Europe’s Seed Investors Huddle-up At The First SeedSummit
Yesterday some of Europe’s most influential and active seed/angel investors got together in London for a ’summit’ organised by Seedcamp, the pan European early stage startup programme. Although press weren’t invited, we understand the morning of SeedSummit was devoted to frank exchanges between the investors about the current stage of early stage seed funding in Europe, with the afternoon reserved for a showcase of Seedcamp startup pitches.
Held at the offices of NESTA in London, the event was outlined by Seedcamp’s Saul Klein on his blog.
Attendees included around 60 people, including high profile investors like Jeff Clavier, Martin Varsavsky, Brent Hoberman, Lukasz Gadowski, Stefan Glaenzer, Dave McClure, Andy Philips, William Reeve, Robin Klein, Jyri Engestrom and Sherry Coutu.
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Confirmed: Playfire Gaming Social Network Secures $2.1m Series A
Playfire, a social network for gamers, has secured $2.1m of Series A funding. The news was first reported this weekend in the Sunday Times newspaper but, as is their usual form, with key details missing, including the full list of investors. What else do you expect from a newspaper that doesn’t even use Twitter properly?
The round was led by Atomico Ventures (founded by Niklas Zennström and Janus Friis of Skype fame), in conjunction with Michael Birch (founder of Bebo), Brent Hoberman (co-founder of LastMinute.com), William Reeve and Alex Chesterman (co-founders of LOVEFiLM) and David Gardner (former COO of Electronic Arts and now CEO of Atari).
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Source: Jajah In Middle Of Bidding War That Could Drive Price Up To $400 Million
There appears to be a good old bidding war going on for another VoIP startup, Jajah, following yesterday’s news about the acquisition of Gizmo5 by Google, a source in Silicon Valley with knowledge of the talks informs us.
Details are scarce at the moment, but Microsoft, Cisco Systems and Telefónica Europe (O2) are said to be looking to buy the venture capital-backed company for a price ranging from $200M to $400M. We’re digging for more information.
Jajah was founded back in 2005 and in March 2006 introduced the world to a pretty decent consumer service that allowed cellphone users access Jajah’s low-cost calling system through their mobile devices, over the Web. Jajah went on to raise $28 million in VC funding from investors like Sequoia Capital, Globespan Capital Partners, Deutsche Telekom and Intel.
The Skype rival amassed about 10 million users when in April 2008 they announced a deal that would bring its premium voice services to nearly 100 million Yahoo Messenger users more. The deal proved crucial for Jajah, which connected its 1 billionth call last Summer. And that was before it turned to Twitter to spread the voice service even more.
Jajah says it currently serves over 25 million consumers and business callers in more than 122 countries, and provides calling access to more than 200 destinations globally. It’s unclear how much revenue it is generating from these users, but it’s apparently enough – or has enough potential to scale and grow – to make for an interesting strategical acquisition target for companies with deep enough pockets to engage in a bidding war.
It’s odd to see O2 mentioned as one of the companies who’s sitting at the negotiation tables, and I consider Microsoft and Cisco to be more likely buyers. Both of them sit on heaps of cash and are undeniably acquisition-hungry, and Redmond has the added benefit of having entered into a partnership with Jajah on enterprise IP communication solutions.
The price range seems to be on the high end, but that’s what happens when a bidding war goes the way the company that’s on the table (and its financial backers) would want it to go.
We’re cataloging this as a solid, plausible rumor for now and will update with more information / confirmation as soon as it comes in.
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Alice.com Sweeps In $6 Million For Household Goods E-Commerce Platform

Alice.com, the retail platform for household goods, has closed a $6 million Series B round of funding from private investors, bringing the startup’s total funding up to over $10 million. We previously scooped the startup’s $4 million infusion (which was part of this round) in September. Alice.com raised $4.3 million in Series A funding from Kengonsa Capital Partners and DaneVest Capital in November of 2008.
Launched in June, Alice.com is an retail platform for consumer packaged goods manufacturers, like Procter & Gamble, to sell directly to consumers instead of going through retail channels like Target or Wal-Mart. On the consumer side, Alice.com lets users create a profile of their household (i.e. how many adults, kids, babies) and then the site will keep track of items and reminds users with emails when they are running low and need to reorder. Each shipment is bundled together in a single ‘Alice’ box, delivered directly to the consumer’s door, with no shipping costs.
Alice’s co-founder and CEO Brian Wiegand told me that the new funds will be used to bring on additional home goods partners, such as Procter & Gamble. Wiegand adds that the site has steadily added many of the well-known manufacturers to its partnership base, but declined to name which brands have signed on.
As we wrote in our initial review of the platform, we are fans of Alice.com thanks to a competitive pricing plan, an well-understood business model (the site makes money via advertising) and experienced entrepreneurs at the helm of the startup. Co-founders and serial entrepreneurs Brian Wiegand and Mark McGuire have managed to sell three companies in the past +10 years, most recently flipping social shopping service Jellyfish to Microsoft (which it later used to create Live Search Cashback).
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Bebo’s Michael Birch launches $49m startup fund for Europe
Well it appeared to be signed and sealed when news leaked back in April that two icons of the UK’s tech startup world were joining forces to create a new fund to address the so-called ‘equity gap’ in Europe. But it gradually emerged that the actual name of the project would change and there were no real details, not even a web site to explain how it would work. But at last night’s Europas Awards in London, Bebo co-founder Michael Birch and Brent Hoberman (Lastminute and mydeco) announced the launch of the fund they’ve now set up together: PROfounders Capital. It’s understood that Birch, who exited from Bebo when it sold to AOL last year for $850m, is the prime investor, however they hope to double the “founder-lead” £30m fund over the next few months.
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UK Tech Icons Launch Seed Fund To Bridge The Gap For European Startups
Two icons of the UK’s tech startup world are joining forces to create a new fund to address the so-called ‘equity gap’ in Europe. European Founders Capital (EFC) is being led by Michael Birch, co-founder of Bebo, and Brent Hoberman, who set up the dotcom bubble era Lastminute.com but is better known more recently for being a serial angel investor and co-founder of MyDeco.
EFC will have an initial $29.5m (£20m) of seed funding but is aiming for $74m (£50m) in total. The idea is to increase the availability of early-stage funding in Europe, which historically lags behind the US, and has led to a gap between early stage and Series A funding. Europe’s seed funding eco-system has never matched Silicon Valley’s in part because the business angel environment for technology is undeveloped and because European VCs have historically not reached much lower than Series A rounds, unless in syndication with other parties.
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