GroupMe To Raise Series B Funding Through A VC Bidding War
GroupMe is a service that lets you text a group of people using just one phone number. GroupMe is currently in the middle of raising venture capital, but there is supposedly a bidding war taking place. This round of funding would put GroupMe at a value that is close to $30 million.
The company’s growth is “nuts – thousands of percent,” according to a BusinessInsider source. The VC firms in the middle of the bidding war include Sequoia, Andreeseen Horowitz, Khosla Ventures, General Catalyst, Flybridge, and Union Square Ventures.
GroupMe’s series A investors include Betaworks and First Round Capital. They invested about $700,000. It’s expected that these two companies will participate in this upcoming round as well.@amitchowdhry or on Google+ at +AmitChowdhry