What a crazy week it has been! On the fundraising front everyone around us seems to be able to raise money but us...we've been shopped by the CEO of Reunion.com only to find out that he only wanted to get insight to our product and while discouraging us to go for $10MM in Series A round of funding he turns around and gets himself $25MM from Oak Venture Partners. Granted, his site has been around longer and supposedly profitable with some great business advisors including the CEO of MySpace.
We're not experiencing quite as much luck the last few months but our team pushes on with the launch of online Video. We were also recently shopped by a company out of San Francisco by a seemingly nice entrepreneur but I'm learning fast that shoppers are pleasantly nice...investors are indifferent and will invest in you if they like you or if you went to Stanford or live in San Francisco which is near Stanford. Valuation of your company is way off they say...so why don't you tell me why and let's make something happen!? I truly wish it could be this easy...
On the Aggregation front: lots of things are brewing in the online social networking space and in search. Recently launched "Human-Generated" search engine called Mahalo.com is claiming to be the first of its kind although anyone who has been around the web block knows its just a fancy way to commercialize existing projects like DMOZ.org which was and is the true first "Human-Generated" search engine curated by volunteers. One might also argue that Wikipedia, Digg, and other web2.0 functions have been doing the same thing like "Tagging".
Google aggregates DoubleClick for $3.1 Billion and MSN aggregates aQuantive...ad networks have become great targets for acquisitions lately, especially those that have collected "Clickprint" from web surfers on the net will show tremendous value all to find out your behavior.
Can you see our SocialURL brains ticking??? Can you imagine the upset if we could do what took years for companies like DoubleClick and aQuantive to achieve and build our valuation off of their recent purchase? What if it was as simple as asking users what social networks and what social media sites they belonged to and aggregate it? What if it was as simple as aggregating your emails so you can manage them in one simple interface at SocialURL? What if it was as simple as allowing you to create your own social networks and go mobile?
On everything else in between:
1. I'm no longer consulting on the premier sports social network MVPspot.com - business is truly a double edged sword.
2. I'm no longer working on Urecho.com- three's company doesn't work when there is lack of trust and communication.
3. My 15 month old daughter received 4 stitches on her perfect forhead from having her big brother shove her into a corner of a side table while they were climbing furniture.
4. My wife is getting the runt of my venture frustrations
5. My 4 year old son is grounded for a year
6. GenBB is moving fast and looks really great.
7. Bootstrapping a business is not an easy thing to do.
8. When potential investors don't respond to your emails...it means they are not interested.
9. Be in LA for 2 weeks meeting with the team and some potential partners
10. Can't wait to go surfing with my friends...
Friday, June 1, 2007
Friday, May 25, 2007
FaceBook Confirms MarketPlace for SocialURL
Facebook threw a big party for all the folks in the SF Valley this past week and I missed it. Facebook to take on Google!? That is fairly ambitious...this brings up the question: Do all web roads lead to SEARCH?
Anyone who was anyone was at this developer conference and it seems that Facebook could have made a quieter splash but I guess there is nothing stealthy about the fact that they are looking to allow completely open widget capable user profiles. This is somehow supposed to change the web and have more people using Facebook for search???
I'm not convinced...Open html for custom profiles and open APIs are nothing new since many other social networking sites like TagWorld have been allowing users to do this for years. I guess it will be interesting because they are the 6th most visited website in the US or maybe it was because they were able to hold a conference about it...
This move though has allowed a bigger question...how will Social Aggregator websites like socialURL take advantage of such moves? I sense some new releases coming for SocialURL members - this is truly exciting and its only the beginning...
Anyone who was anyone was at this developer conference and it seems that Facebook could have made a quieter splash but I guess there is nothing stealthy about the fact that they are looking to allow completely open widget capable user profiles. This is somehow supposed to change the web and have more people using Facebook for search???
I'm not convinced...Open html for custom profiles and open APIs are nothing new since many other social networking sites like TagWorld have been allowing users to do this for years. I guess it will be interesting because they are the 6th most visited website in the US or maybe it was because they were able to hold a conference about it...
This move though has allowed a bigger question...how will Social Aggregator websites like socialURL take advantage of such moves? I sense some new releases coming for SocialURL members - this is truly exciting and its only the beginning...
Thursday, May 24, 2007
Angel FundRaising Hell...or maybe more like Pergatory
So I've been spending the last 3 months chasing around angel investors and here is what i've learned.
1. Even if you have the background and experience, the team, the product, the traction...doesn't guarantee you anything...
2. No matter how prepared you think you are...its not enough
3. Don't try it if you have a family...it is already difficult enough to try to raise capital while you are single.
4. find as many partners as you can
5. find as many advisors as you can
6. Its ok to say No to partners
7. Save enough to live off of for 12 months
Be aware of things unseen...things that are not so obvious...read, read, read or invest in an ipod to listen to ebooks while you are working
1. Even if you have the background and experience, the team, the product, the traction...doesn't guarantee you anything...
2. No matter how prepared you think you are...its not enough
3. Don't try it if you have a family...it is already difficult enough to try to raise capital while you are single.
4. find as many partners as you can
5. find as many advisors as you can
6. Its ok to say No to partners
7. Save enough to live off of for 12 months
Be aware of things unseen...things that are not so obvious...read, read, read or invest in an ipod to listen to ebooks while you are working
Monday, May 14, 2007
Vertical Social Networks
May 13th, 2007
Big or Bullshit: Vertical Social Networks by David Cohen
"...So what happens when there are just too many social sites for a regular guy deal with? Perhaps we’ll see the emergence of social aggregators and the centralization of identity and trust (these last things need to happen anyway). You see some examples already. Sites like Profilactic, SocialURL and soon, we hear, the much anticipated product from Jared Polis’s new company Confluence Commons are trying to help by aggregating existing social content. But as these social networks proliferate, one thing that would be incredibly helpful would be a “write once, use many” centralized user profile. I would love to see OpenID go in this direction (or someone leveraging OpenID) by allowing users to create their base profile in one place rather than having to constantly enter it into every network they want to check out. Tools like these will abound, and the key is that these tools should be in a unique position to truly understand each users preferences, affinities, and social webs. This may even be the way that the attention economy initially develops: rather than getting users to volunteer their click-streams, it’s far easier to simply study what they’re already telling you.
I don’t believe that MySpace, Bebo, and FaceBook have yet fully harnessed the profile information freely offered by their users for laser targeted advertising, but they will. If you believe that, just imagine for a second what the aggregators can do! Of course, they’ll need the users, but I believe that there are enough benefits to users in this scenario that they’ll flock to the aggregators.
When I think about what’s likely to happen, I think that the vertical social networks will proliferate and become a useful part of the web. But in terms of their potential as an investment - I guess I’ll have to call Bullshit. Look to the aggregators and the toolsets that emerge around identity - I think that will be Big.
We’ll know what Brad thinks soon. But pick a limb and come hang out with me. What do you think about vertical social networks?"
http://coloradostartups.com/2007/05/13/big-or-bullshit-vertical-social-networks/#comments
I think David is right on for the most part and that aggregators will have most of the true opportunities for "BIG" but there will be specific brands that will come out of the vertical social networks that will also be "BIG" simply because of certain founders involved. Thanks David for mentioning SocialURL on ColoradoStartups.com
Big or Bullshit: Vertical Social Networks by David Cohen
"...So what happens when there are just too many social sites for a regular guy deal with? Perhaps we’ll see the emergence of social aggregators and the centralization of identity and trust (these last things need to happen anyway). You see some examples already. Sites like Profilactic, SocialURL and soon, we hear, the much anticipated product from Jared Polis’s new company Confluence Commons are trying to help by aggregating existing social content. But as these social networks proliferate, one thing that would be incredibly helpful would be a “write once, use many” centralized user profile. I would love to see OpenID go in this direction (or someone leveraging OpenID) by allowing users to create their base profile in one place rather than having to constantly enter it into every network they want to check out. Tools like these will abound, and the key is that these tools should be in a unique position to truly understand each users preferences, affinities, and social webs. This may even be the way that the attention economy initially develops: rather than getting users to volunteer their click-streams, it’s far easier to simply study what they’re already telling you.
I don’t believe that MySpace, Bebo, and FaceBook have yet fully harnessed the profile information freely offered by their users for laser targeted advertising, but they will. If you believe that, just imagine for a second what the aggregators can do! Of course, they’ll need the users, but I believe that there are enough benefits to users in this scenario that they’ll flock to the aggregators.
When I think about what’s likely to happen, I think that the vertical social networks will proliferate and become a useful part of the web. But in terms of their potential as an investment - I guess I’ll have to call Bullshit. Look to the aggregators and the toolsets that emerge around identity - I think that will be Big.
We’ll know what Brad thinks soon. But pick a limb and come hang out with me. What do you think about vertical social networks?"
http://coloradostartups.com/2007/05/13/big-or-bullshit-vertical-social-networks/#comments
I think David is right on for the most part and that aggregators will have most of the true opportunities for "BIG" but there will be specific brands that will come out of the vertical social networks that will also be "BIG" simply because of certain founders involved. Thanks David for mentioning SocialURL on ColoradoStartups.com
Thursday, May 10, 2007
SocialURL Video brings you daily popular videos from YouTube, Google, Grouper, Metacafe, Break and iFilm.
Have you ever wondered what it would be like if you could just get your favorite top 10 videos from your favorite online Video sites? Stop wondering and go to www.socialURL.com/video and get more out of your web life:)
SocialURL Gains Three New Acquisitions
FOR IMMEDIATE RELEASE:
SocialURL Gains Three New Acquisitions
Company joins forces with three business tycoons as they assemble the board of advisors
Los Angeles, California, April 30, 2006 – SocialURL, a leader in online social networking, is pleased to announce the arrival of three new board of advisors. Established in 2007, SocialURL is determined to help young audiences manage their multiple social networks and profiles in one organized location.
Donald Maycott, currently the VP of Operations and Professional Services at Universal Business Solutions LLC, will be assisting in SocialURL’s endeavors. With over twenty four years of expertise in the start up world, it is apparent that Maycott’s knowledge and technical skills will be positive to the board. Maycott is also known for his talent in building IT service organizations for an array of successful companies. RedHat INC (which sold for $47 million) and International Network Services have both led him to generate extraordinary results.
Joe Hurd, an additional business professional with a plethora of experience, is also joining the SocialURL board of advisors. Currently the VP of Business Development at VideoEgg; Hurd is responsible for settling distribution deals with outstanding social networking websites. In addition, Hurd is the Founder and Managing Partner of Katama Group. Focusing on international strategy and business development techniques for consumer websites, it is evident that Hurd will make a lasting impact on this expanding company.
SocialURL is also pleased to greet Travis Savo, presently CEO of Verse Studios Incorporated. With more than twenty years of experience in Computer Programming, Project Management, and Computer Science, Savo is ready to tackle upcoming endeavors. Moreover, his position as Chief Technologist at The Sindome Group, has allowed him to contribute to establishing its technology for remarkable role playing text games. Past roles such as Lead Technological Engineer at IFilm and SpaceQuest7 have certainly put his skills and expertise on SocialURL’s radar.
About SocialURL
SOCIALURL is a social community platform which enables users to organize their online identities. Currently known as a trend setter in the media realm, SocialURL offers free photo uploads, and the ability to form networks. For additional information, please visit: www.SocialURL.com
CONTACT:
Henri Duong, CEO/Co-founder
SOCIALURL
720-985-9282
SocialURL Gains Three New Acquisitions
Company joins forces with three business tycoons as they assemble the board of advisors
Los Angeles, California, April 30, 2006 – SocialURL, a leader in online social networking, is pleased to announce the arrival of three new board of advisors. Established in 2007, SocialURL is determined to help young audiences manage their multiple social networks and profiles in one organized location.
Donald Maycott, currently the VP of Operations and Professional Services at Universal Business Solutions LLC, will be assisting in SocialURL’s endeavors. With over twenty four years of expertise in the start up world, it is apparent that Maycott’s knowledge and technical skills will be positive to the board. Maycott is also known for his talent in building IT service organizations for an array of successful companies. RedHat INC (which sold for $47 million) and International Network Services have both led him to generate extraordinary results.
Joe Hurd, an additional business professional with a plethora of experience, is also joining the SocialURL board of advisors. Currently the VP of Business Development at VideoEgg; Hurd is responsible for settling distribution deals with outstanding social networking websites. In addition, Hurd is the Founder and Managing Partner of Katama Group. Focusing on international strategy and business development techniques for consumer websites, it is evident that Hurd will make a lasting impact on this expanding company.
SocialURL is also pleased to greet Travis Savo, presently CEO of Verse Studios Incorporated. With more than twenty years of experience in Computer Programming, Project Management, and Computer Science, Savo is ready to tackle upcoming endeavors. Moreover, his position as Chief Technologist at The Sindome Group, has allowed him to contribute to establishing its technology for remarkable role playing text games. Past roles such as Lead Technological Engineer at IFilm and SpaceQuest7 have certainly put his skills and expertise on SocialURL’s radar.
About SocialURL
SOCIALURL is a social community platform which enables users to organize their online identities. Currently known as a trend setter in the media realm, SocialURL offers free photo uploads, and the ability to form networks. For additional information, please visit: www.SocialURL.com
CONTACT:
Henri Duong, CEO/Co-founder
SOCIALURL
720-985-9282
Sunday, April 1, 2007
Social Media Ventures Update
Dear Friends and Family,
There are some very exciting events that have happened since we launched SocialURL and I wanted to take a minute to share it with you.
Since March 1st Launch of SocialURL "the social media directory" here were our stats last month...
* 95% US based
* 4K members in 30 days
* 65% daily returning members
* 35% daily new visitors
* 150K average daily impressions
* 4.6 Million pageviews ending total
* 30 average pageviews per user
* 200 average daily new member sign ups
* $0 spent in advertising
Business-2-Business Update: We have 3 private label brands contracted to launch in April
* www.urecho.com
* www.genbb.com
* third will be announced April 23rd
Be on the lookout for our next update at the end of April which will include our initial market valuation. If you know any private angel investors interested in the opportunity in seeding us while we're bootstrapped and in our early stages please feel free to contact me
There are some very exciting events that have happened since we launched SocialURL and I wanted to take a minute to share it with you.
Since March 1st Launch of SocialURL "the social media directory" here were our stats last month...
* 95% US based
* 4K members in 30 days
* 65% daily returning members
* 35% daily new visitors
* 150K average daily impressions
* 4.6 Million pageviews ending total
* 30 average pageviews per user
* 200 average daily new member sign ups
* $0 spent in advertising
Business-2-Business Update: We have 3 private label brands contracted to launch in April
* www.urecho.com
* www.genbb.com
* third will be announced April 23rd
Be on the lookout for our next update at the end of April which will include our initial market valuation. If you know any private angel investors interested in the opportunity in seeding us while we're bootstrapped and in our early stages please feel free to contact me
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