Posts Tagged ‘First Round Capital’

Here is a good Techcrunch article about Foursquare.

“A months long fundraising process for Foursquare is in its last stages, we’ve heard from multiple sources, and Andreessen Horowitz looks to be preparing to check-in to Foursquare to take an investor badge.

The company has delayed committing to new venture capital as they considered buyout offers – negotiations went deep with both Yahoo and Facebook, and possibly Microsoft. The Yahoo discussions ended weeks ago, and Facebook passed on an acquisition earlier this week, we’ve heard.

That means the company is raising that big new round of financing. And a slew of venture capitalists, including Accel Partners, Andreessen Horowitz, Khosla Ventures, Redpoint Ventures, Spark Capital and First Round Capital were all rumored to competing heavily for inclusion despite the $80 million or so valuation, say our sources.

Andreessen Horowitz, despite rumors that they were pulling out of discussions with the company weeks ago over concerns that too much information was leaking to the press, is the last venture capitalist standing. The fact that founding partner Marc Andreessen is on the board of directors of Facebook, a key partner or competitor of Foursquare, may be the factor that put them over the top.

Existing investors OATV and Union Square Ventures will also participate heavily in the new round, we’ve heard. In the meantime they’ve likely already loaned additional capital to the company.”

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Here is an article from Web CPA.

“Intuit has signed a deal to acquire personal finance site Mint.com for approximately $170 million cash.

The privately held Web site, based like Intuit in Mountain View, Calif., has gained popularity, especially among young people who use it to keep track of their spending and budgets. Intuit has been expanding its array of online services as part of its “connected services” strategy. The company said it plans to keep operating both Mint.com and its own personal finance site, Quicken Online.

Mint.com will become the primary online personal finance management service that Intuit will offer directly to consumers. Quicken Online will connect Quicken customers via the desktop, Web and mobile phone. After the transaction is completed in the fourth quarter, Mint.com will become part of Intuit’s consumer group, which includes both the company’s Quicken and TurboTax products.

“With this transaction, Intuit will gain another fast-growing consumer brand and a highly successful software-as-a-service offering that helps people save and make money,” said Intuit CEO Brad Smith in a statement. “This move will enhance Intuit’s position as a leading provider of consumer SaaS offerings that connect customers across desktop, online and mobile.”

Launched in September 2007, Mint.com has attracted over 1.5 million users. The site claims to track nearly $200 billion in transactions and $50 billion in assets. Mint.com has received over $17 million in financing from venture capital firms including Shasta Ventures, Benchmark Capital, First Round Capital, DAG Ventures and Sherpalo Ventures”

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