Tag Archive | "funding"

New Funding Round Values Reddit at an Astounding $3 Billion

Reddit announced a new $ 300 funding round valuing the company at an astounding $ 3 billion. The valuation is amazing considering that Reddit has been around for quite a while and is presumably past its high growth phase. Reddit was founded in 2005, a year after Facebook and a year before Twitter.

Half of that investment is coming from China video game producer Tencent, raising concerns from some about censorship possibilities. Reddit is currently banned in China.

Steve Huffman, CEO of Reddit, discusses the new funding round in an interview on CNBC:

We are reinventing the ads business both on the technology side and our ability to sell it and to create a friendly home for users and brands alike. We’ve made steady progress on all of these fronts over the last year. We feel pretty proud of where we are. As a result, we’re seeing a lot of attention from both brands and investors.

When we’re talking about competing for ad dollars, of course, we’re talking about Facebook and Google who take up the vast majority of ad spend. But when we think about our competitors, I half-jokingly but truthfully say, we’re competing with anywhere people spend their free time.

They (Tencent) are investing in lots of videogame companies and video games are one of many categories that are really popular on Reddit. But the fact of the matter is we are the only company at our scale that’s still a private company. We’ve had a lot of investor intention in the last year. So we find ourselves in a good position to kind of get something done right now.

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Wyze Announces $20 Million in VC Funding via YouTube Docudrama

Wyze has always been anything but boring. They have an affordable $ 20 security camera that makes Ring users wonder if they’ve wasted their money. One of their founders, Dave Crosby, has an adorable singing daughter Claire Crosby that has appeared on Ellen and has 1.5 million subscribers to her YouTube channel. Dave has also been a contestent on The Voice.

Now Wyze has announced $ 20 million in Series A funding in dramatic fashion via a YouTube docudrama. It makes sense. Wyze considers their customers their community and being honest is part of the Wyze DNA. Letting customers in on the struggles of a startup via a documentary style video is a great way to reinforce that trust with their community.

Wyze Announces $ 20 Million in VC Funding via YouTube Docudrama

The funding round is led by Norwest Venture Partners and comes on the heels of Wyze’s massive success in selling over 1.5 million units of its first products, Wyze Cam and Wyze Cam Pan, since launching in October 2017. This funding is in addition to the previous seed funding investment from iSeed Ventures.

“We’ve had a singular focus on making pragmatic hardware and software that actually improve people’s lives, and this new capital infusion will help us continue that mission,” said Yun Zhang, Co-Founder and CEO of Wyze. “Without our tremendous and wonderful community, we would never have been able to build a $ 100 million company in just one year. We’re looking forward to offering them more, and listening to the community’s feedback as we continue to expand into new areas of the home.”

“This is the story about a lemon aid stand,” says Wyze founders and employees. “A story about a guy who put everything on the line. A story about 800,000 people that decided to give a no-name startup in Seattle a shot. A story about a brand that’s about to be a household name. At least that’s the plan. This is a story about you. This is a story about $ 20 million.”

“Now thanks to you there are 800,000 people at our lemon aid stand,” Wyze says. “Because you gave us such great feedback on the forums and the different social media our product is just getting better and better. Over 80 percent of customers have shared Wyze Cam with a friend. That is amazing. Thank you. That kind of growth is hard to manage.”

“Wyze proved that a smart home camera doesn’t have to be expensive to be great, which has driven adoption across a much broader base of consumers than ever before,” said Parker Barrile, Partner at Norwest Venture Partners. “I’m excited to partner with Yun and his team to build the next generation of smart home devices and services that everyone can afford.”

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Lead Generation: How to get funding to improve your lead gen

How do you take your lead generation function to a new level.? What if the cost of what you want to do exceeds your budget? In today’s blog post, we show you four essential factors that will help you get the executive buy-in for your lead gen initiative.
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