Congratulations to BuddyTV
One of many entrepreneurs we've interviewed and stayed in touch with over the past year emailed us with the following question:
"Is AoA funding Internet companies? I have been talking to some well known entrepreneurs that tell me Seattle is not the place to be and San Francisco/San Jose is where I need to go."
We'd like to offer both a point and counterpoint in response.
Point: In 2007, we have been up to our eyeballs in "eyeballs" deals.....of 120 screening and coaching sessions we've had this year to date, 23 have been web plays, primarily social networking and social media. If we had a dollar for every early-stage web entrepreneur who referenced the You Tube acquisition, a plan to use viral networking, and ad-supported revenues, well, we'd be about $20 richer this year. As to the suggestion above, of these 23 companies, only 4 were ultimately selected to present to our membership for funding this year. The space is highly competitive, and only the most compelling of these businesses is likely to succeed. However......
Counterpoint: We were thrilled to read in the Seattle PI that BuddyTV, co-founded by David Niu and Andy Liu, received $2.8M in funding from Gemstar-TV Guide International. Andy and the BuddyTV team were one of the exceptional internet companies that participated in our process, presented to the membership, and received funding. He comments: "We are very excited about this round as it validates what we've always believed is happening both online and on Television - strong demand for entertainment to be delivered closer to fans. Because of the strategic nature of the financing, we believe both the capital and relationship with Gemstar-TVGuide will accelerate the Company's growth significantly over the next year. We'd be remiss not to mention that Alliance of Angel member Geoff Entress has been a huge supporter of BuddyTV from the beginning and continues to be a valuable member of the team." BuddyTV leverages several advantages that position the company for success: the right combination of market drivers, a team with street cred in the space (Niu and Liu truly understand SEO and viral networking, and successfully led NetConversions to acquisition), and some incredibly strategic partnerships. Congrats to BuddyTV, and continued success. In the meantime, whether you're the next YouTube, MySpace (or Andy Liu), yes, we do interview and fund internet companies.
"Is AoA funding Internet companies? I have been talking to some well known entrepreneurs that tell me Seattle is not the place to be and San Francisco/San Jose is where I need to go."
We'd like to offer both a point and counterpoint in response.
Point: In 2007, we have been up to our eyeballs in "eyeballs" deals.....of 120 screening and coaching sessions we've had this year to date, 23 have been web plays, primarily social networking and social media. If we had a dollar for every early-stage web entrepreneur who referenced the You Tube acquisition, a plan to use viral networking, and ad-supported revenues, well, we'd be about $20 richer this year. As to the suggestion above, of these 23 companies, only 4 were ultimately selected to present to our membership for funding this year. The space is highly competitive, and only the most compelling of these businesses is likely to succeed. However......
Counterpoint: We were thrilled to read in the Seattle PI that BuddyTV, co-founded by David Niu and Andy Liu, received $2.8M in funding from Gemstar-TV Guide International. Andy and the BuddyTV team were one of the exceptional internet companies that participated in our process, presented to the membership, and received funding. He comments: "We are very excited about this round as it validates what we've always believed is happening both online and on Television - strong demand for entertainment to be delivered closer to fans. Because of the strategic nature of the financing, we believe both the capital and relationship with Gemstar-TVGuide will accelerate the Company's growth significantly over the next year. We'd be remiss not to mention that Alliance of Angel member Geoff Entress has been a huge supporter of BuddyTV from the beginning and continues to be a valuable member of the team." BuddyTV leverages several advantages that position the company for success: the right combination of market drivers, a team with street cred in the space (Niu and Liu truly understand SEO and viral networking, and successfully led NetConversions to acquisition), and some incredibly strategic partnerships. Congrats to BuddyTV, and continued success. In the meantime, whether you're the next YouTube, MySpace (or Andy Liu), yes, we do interview and fund internet companies.
Labels: Financing event, internet
posted by Rebecca Lovell at
8:26 AM
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