Venture Capital

Ron Conway steps back as Y Combinator cuts team funding

Superstar angel investor Ron Conway will no longer be part of the team of investors giving money to the dozens of startups taking part each year in Y Combinator, one of the world's most prestigious incubators.

Y Combinator said today that it is sharply reducing the amount of venture funding each startup coming through the program is given. For the last two years, each team was seeded with $150,000 in funding from Conway, of SV Angel, Yuri Milner, and Andreessen Horowitz. Starting today, that amount has been slashed to $80,000 per team, the incubator said, as it … Read more

YouTube programmer Maker Studios raises $40M -- report

Maker Studios, a company that delivers professional programming to YouTube, is getting a big cash infusion from Time Warner, according to a new report.

Time Warner Investments, the venture-capital division at the media conglomerate, is leading a $40 million round of financing for Maker, All Things Digital reported yesterday, citing people with knowledge of the deal. The round is expected to close by the end of the year.

Maker Studios stands with Machinima, a company that produces gaming videos, at the leading edge of what has become a more professional push on YouTube. Maker Studios offers what's called "… Read more

NYC's Silicon Alley badly trails Silicon Valley in startup influence

With the success of companies like Tumblr, Foursquare, and Kickstarter, New York's startup scene has gotten a lot of attention recently.

But despite the influence of those outfits and venture capitalists like Union Square Ventures' Fred Wilson, the Big Apple is a backwater when it comes to the world startup scene, according to a new report from the Startup Genome project.

In the study, New York City came in as just the fifth-ranked startup ecosystem in the world, trailing Silicon Valley, Israel's Tel Aviv, Los Angeles, and Seattle.

To come up with its rankings, the Startup Genome -- … Read more

Pet sitting site DogVacay fetches $6 million more in funding

DogVacay, the site that matches people who need a dog sitter with people who are interested in caring for dogs in their homes, is growing faster than a kibble-guzzling puppy.

The company, which launched in March and has about 8,000 hosts signed up on its network, recently hit $1 million in payments to its hosts. It's just received a $6 million investment from Benchmark Capital, co-founder and CEO Aaron Hirschhorn revealed today.

The site, which acts like an Airbnb for dogs, offers an affordable -- and more social -- alternative to kennels for dog owners, while giving hosts … Read more

What Square's rise means for the startup ecosystem

Square is different than any other startup that has come before it, and its growing influence and size will inevitably lead to a change in the way entrepreneurs run their companies and venture capitalists invest.

There's no doubt that Square is on the rise, but it is set to accelerate its growth, thanks to a strategic investment from Starbucks that places Square's technology in front of millions of consumers. And thanks to Starbucks, Square's revenue and valuation are set to soar.

Perhaps this is why more pundits are calling Square "Silicon Valley's next great company,&… Read more

Friendster founder raises $1.7M for social startup Nuzzel

A decade after his startup Friendster paved the way for online social networks, Jonathan Abrams is back with a new social project. And as of today, he has some high-profile investors supporting his plan.

Nuzzel, a startup that collects all the most-shared links in your Facebook and Twitter feeds and presents them in a clean, easy-to-read format, raised $1.7 million in seed funding from investors including 500 Startups' Dave McClure, "The Lean Startup" author Eric Ries, Slide's Max Levchin, Andreessen Horowitz's Ronny Conway, and the Founders Den's Zachary Bogue, who is also the husband … Read more

Google Ventures reportedly gets $100 million funding boost

Google Ventures, the search giant's venture-capital arm, is getting more cash to play with.

Google Ventures will now be allowed to invest up to $300 million a year into startups, up from the previous limit of $200 million per year. The boost was reported to Reuters by Google Ventures managing partner Bill Maris, who told the news outlet that the increased cash "puts a lot more wood behind the arrow if we need it."

Google Ventures kicked off in 2009 as a way for the search giant to identify early-stage companies and give them cash to help … Read more

ItsOn gets its funding on, targets mobile data 'bill shock'

A mobile company that wants to change how you access data just raised a boatload of cash.

ItsOn announced today that it has closed a $15.5 million Series B round of financing. Venture capital firm Andreessen Horowitz led the round. The firm was joined by investment company SV Angel.

ItsOn takes a unique stance on data usage by allowing customers to choose how much data they need and for what purpose. The company's Web site is shy about details on its service, but in a statement, ItsOn founder and CEO Greg Raleigh says that his firm's focus … Read more

The secret to creating the next Silicon Valley

New York. London. Los Angeles. Dublin. Chicago. Berlin. Every one of these cities (and more) have been mentioned as having the potential to become "the next Silicon Valley," a new technology hub that could rival the Bay Area's dominance when it comes to tech.

All of these cities are working hard to compete with Silicon Valley. London just hired a prominent Facebooker to become the CEO of its technology project. Dublin has f.ounders and the Dublin Web Summit. New York has a collection of high-profile tech companies, including Foursquare, Gilt Groupe, Fab, Tumblr and Quirky. Chicago … Read more

Yahoo's Marissa Mayer makes her first acquisition

Yahoo has acquired its first startup: Stamped, a recommendations engine built by former Google colleagues of Yahoo CEO Marissa Mayer -- a team Mayer wanted to bring into the fold at Yahoo.

Stamped, which launched as a smartphone app last November, lets users recommend books, movies, restaurants, and other things to friends by giving them a virtual stamp of approval. It uses a Twitter-like social graph that lets users follow recommendations from both friends and celebrities, like chef Mario Batali.

The company had raised about $3 million from a range of investors including Bain Capital Ventures, Google Ventures, and singer … Read more