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April 12, 2005

Venture capital money tastes

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Posted by Dominic Basulto

Joshua Schachter, the founder of, has some exciting news about a recent infusion of VC money:

"As you may know, I left my job a few weeks ago in order to devote myself full-time to In order to make that posssible, I accepted an investment from a group of thoughtful and influential investors. The group I chose to work with understands my commitment to maintaining the integrity of the service and the security of your data. They were also willing to take a minority stake, which will keep me in control of the future of

Union Square Ventures leads the investment group, and the other members are, Marc Andreessen, BV Capital, Esther Dyson, Seth Goldstein, Josh Koppelman, Howard Morgan, Tim O'Reilly, and Bob Young."

In his post " Dollars," Om Malik speculates that received somewhere around $2 million in VC financing. "Open media dollars are coming thick and fast," he writes.

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