Archive for the ‘Khosla Ventures’ Category

Khosla Ventures Raises $1.1 Billion For 2 New Funds

Amit Chowdhry | September 2, 2009 | 184 views | Comments
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Vinod Khosla, the founder of Khosla Ventures and co-founder of Sun Microsystems has raised $1.1 billion for his venture firm.  About $800 million will be going to Khosla Ventures III and $275 million will go to a new seed fund.

Altogether $1.1 billion is the largest that a venture firm has raised in the last 10 years.  This is also the first time that Khosla Ventures raised money externally.  One of the biggest partners in this round of funding is CALPERS (the California state employees retirement fund).

The previous rounds of Khosla Ventures were provided by Vinod Khosla himself.  Khosla founded the venture firm in 2004 and now the company has 8 partners.  Gideon Yu was recently hired as a General Partner at Khosla.  Before that he was the CFO of Facebook.

Seeo Raises Over $8.6 Million

Amit Chowdhry | August 30, 2009 | 223 views | Comments
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Seeo is a battery manufacturing company that is based in Berkeley, California.  According to a regulatory filing, the company has recently raised over $8.6 million.  The homepage of Seeno just has a logo and the statement “Seeo is developing advanced materials to revolutionize electricity storage and delivery.”

The investors were mostly undisclosed, but peHUB reports that Khosla Ventures is a return investor.  Mohit Singh founded Seeo and serves as a director.  He started the company about two years ago and plans to make lithium ion batteries for consumer electronics less flammable and more stable.

The company has already created a bettery that is based on a nano-structured solid-state structure.  The batteries that Seeno develops also has a higher energy density that lithium ion batteries currently on the market.

Khosla Ventures Hires Gideon Yu

Amit Chowdhry | August 26, 2009 | 352 views | Comments
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Gideon Yu is the former chief financial officer at Facebook.  In late March, Yu had suddenly quit and it was uncertain where he was headed to next.  According to a source with TechCrunch, Yu has joined Khosla Ventures as a General Partner.

Yu was previously an SVP in Finance and Yahoo! and he was also the former CFO of YouTube.  Before joining Khosla, Yu worked for a short while at Sequoia Capital.  He was one of the main reasons why Google bought YouTube for $1.65 billion.

Khosla recently raised $1 billion in a fund to invest in various startups in the mobile, Internet, science, and clean-tech sectors.

Xobni Raises $7 Million From Cisco, Khosla Ventures, First Round Capital, Baseline Ventures, and Atomico

Amit Chowdhry | January 5, 2009 | 612 views | Comments
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Xobni is a San Francisco, Calif. based startup that built a platform around Microsoft Outlook.  Xobni makes it easier to find people, email, and attachments within Outlook.  Bill Gates even called Xobni the next generation of social networking.  Xobni has recently raised $7 million in Series B.  Xobni started as a Y-Combinator company then went on to raise $4.26 million in Series A.

Xobni’s Outlook software has been downloaded over 1.5 million times.  Xobni is currently doing product trials with Fortune 500 companies.  Some of the companies Xobni has partnered with includes LinkedIn, Facebook, Skype, and Yahoo!  Cisco’s investment in Xobni is an indication that they are becoming serious about enterprise email.  In August 2008, Cisco acquired PostPath, an email and calendar company for $215 million.

Prior to the $7 million investment, Xobni raised $4.26 million in funding from Khosla Ventures, Atomico, and First Round Capital.  The individuals that participated in Xobni’s first round of funding was Ariel Poler, Saar Gur, and Tom Pickney.

ZocDoc Checks In $3 Million Series A Funding Led By Khosla Ventures

Amit Chowdhry | August 24, 2008 | 1 views | Comments
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ZocDoc is a New York-based service that allows users to make free appointments with dentists and doctors online.  With a few clicks, users can find the doctors and dentists that accepts their insurance.  Sometimes the appointments can be made on the same day.

ZocDoc can also find out the quality of doctors by patient reviews.  ZocDoc started in September 2007.  ZocDoc will be expanding beyond New York City soon.   The founders of ZocDoc are Nick Ganju, Cyrus Massoumi, and Oliver Kharraz, M.D.

ZocDoc recently raised $3 million in a first round of funding, led by Khosla Ventures.  ZocDoc currently has about 30,000 users and is growing 50% every month.  The company also has a waiting list of doctors that want to participate in ZocDoc.  ZocDoc currently has 10 employees and will be using the money to power their expansion.

ZocDoc plans on making money through two ways.  The first way is advertising and the second way is to introduce a nominal fee for practitioners.

Related Link:
1. paidContent

Slide Over That $50 Million, I’ve Got Photo Widgets!

Amit Chowdhry | January 19, 2008 | 754 views | Comments
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As you give a goofy look at the camera pointing at you in a photo kiosk at an entertainment venue, you begin to wonder what captions and background you’ll use.  Now take this concept, slap it on the Internet in the form of a widget that can be Facebooked or MySpaced, and you’re ready to raise $50 million.

Business-savvy Internet entrepreneur and PayPal co-founder, Max Levchin did exactly that, as mentioned in BusinessWeek.  Slide raised $50 million and increased their valuation to $500 million.  This fourth round of investment was provided by Fidelity Investments and T. Rowe Price.

Photo widget companies is a proven model for acquisition targets, but is also a proven model for its vulnerability of mooching on other social networks’ user base.  For example, Photobucket was acquired by News Corp. in May 2007 at a price of $250 million in cash.  But before the acquisition, MySpace completely blocked Photobucket from accessing their users because of an advertising violation before making a truce. 

Altogether, Slide has raised over $75 million including investments from other PayPal co-founder, Peter Thiel and venture capitalist, Vinod Khosla.  Thiel is an early investor of Facebook.  The other founders of Slide include Jared Kopf and Scott Banister, both also former PayPal employees.

Previous Slide coverage is available at: http://pulse2.com/category/slide/.

Slide Receives Third Round of Funding From Khosla Ventures & Mayfield Fund

Amit Chowdhry | November 15, 2006 | 679 views | Comments
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Slide LogoSlide.com, the photo slideshow website has raised a third round of funding from Khosla Ventures and Mayfield Fund. According to VentureBeat, the amount of funding for the third round is undisclosed, but there are rumors circulating that it is over the second round of $8 million. Based on third round funding estimations, Slide is currently worth near or over $20 million.

Creating a slideshow with Slide is done in 3 simple steps from the arrange page. The three steps are: 1.) Create a Slide Show, 2.) Save Slide Show, and 3.) Share Slide Show. There are 4 presets to scroll pictures: Sliding, Stars, Collage, and Checker. Photos can be directly imported from your PC hard drive, Photobucket account, Flickr account, MySpace account, or direct URLs. There are also several themes and sizes to alter these slide shows.

One of the co-founders of Slide is Max Levchin, a co-founder and former CTO of PayPal. Levchin is from Kiev, Ukraine, then moved to Chicago to attend UIUC. After PayPal went public in 2002 and his 2.3% stake was converted into $34 million after the eBay acquired PayPal, Levchin started Slide in 2004.

Levchin had also created Yelp, a review-centric social network. Previous investors include Founders Fund, BlueRun Ventures, and Peter Theil, the other co-founder of PayPal. Levchin aims to make money by adding sponsored pictures in slide show image crawls. Currently, Slide and Yelp are based in San Francisco. SFGate.com has a detailed history of Levchin’s past.

What I Like About iLike. A Look Into iLike’s Past 4 Months.

Amit Chowdhry | November 10, 2006 | 1,238 views | Comments
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It wasn’t too long ago since GarageBand took a $2.5 million investment from David Weiden of Khosla Ventures and former COO of AOL Time Warner, Bob Pittman, and launched iLike, a service that helps you determine what music you may be interested in based on your and your friends’ taste.

Garageband crashed during the Internet bubble burst and then rose again from the ashes in 2002. Apple has a similar product group and software name as iLike and Garageband. Apple’s iLife division has developed Garageband, a software that eases the creation of podcasts. Initially when iLike was launched, Garageband allowed users to upload music and then would decide which bands were to be featured.

October 25, 2006: The opening day for iLike:
iLike launched on October 25, 2006 and saw an immediate approval reaction from the public as proved by the Alexa chart below:
iLike Alexa Growth
Some of the publicity iLike had to cause this spike in traffic is partially responsible by Marshall Kirkpatrick of TechCrunch, who reviewed iLike on the day before it was released. The CEO of iLike provided feedback on the TechCrunch post by stating that the review did not focus on the social networking aspect of iLike, a key selling feature. The users in the social network surrounding iLike take responsibility for reviewing and rating the independent artist music that is submitted on iLike as well as the mainstream music which should deter any skeptics about the quality of indie music. Later that week, VentureBeat also gave exposure to iLike’s release which also must have contributed to the spike.

iLike Team Picture From iLike Team Blog
Above is a picture of the iLike team found from the iLike Team Blog, who had been working on the iLike development for 6 months before the company launch. iLike is run by two twin brothers, Ali and Hadi Partovi. At the time during launch, iLike was backed by 25 engineers based in Seattle, California, and Australia. I’m not sure what the current employee numbers are.

November 2, 2006: iLike Team decides to add a music feature to complement their 30 second music preview:
“Not just music clips” exclaimed Hadi Partovi. “But music videos!” The iLike Team then sat down and started plugging-and-chugging this feature into the iLike user interface. Within 72 hours, the iLike team turned an idea into specifications, began development, started testing, and then sent the new feature into production. Hence the reason for my post title. “What I Like About iLike.” Any company that can have such a quick turnaround time on an idea gets my vote.

November 7, 2006: YouTube Features Launch; A couple days later, Michael Arrington Writes About It:
The idea behind this new feature is that if music videos are available for the selected songs, iLike users can click on “Play Video (if available)” and if it is, then a mini-embedded video from YouTube will open up directly below the song title on iLike. Here’s a screenshot:
iLike YouTube
November 9, 2006: VentureBeat’s Matt Marshall reports that iLike Has Quietly Acquired FotoDunk:
The four founders of FotoDunk are David McIntosh, Daniel Kluesing, Alan Rutledge, and Darian Shirazi. “These guys met with the iLike folks at in a Fulsom St. bar in SF to sign the documents, but were forced to go into an alleyway to finish the deal because there were underage,” stated Matt Marshall. FotoDunk is a software application that allow users to upload photos from their phone into a Flash widget which can be embedded in MySpace profiles.

November 10, 2006: New technology company, Pulse 2.0 reviews and submits an Approval for iLike:
I strongly believe that iLike has come a long way in such a short time. I’ve never heard of a company that has produced strong results for a company that could potentially absorb marketshare from Yahoo! Music and Amazon.com. Now if only there was a way for iLike to open their own music store rather than sending music customers to Amazon.com and iTunes.