Editor’s Note: Our annual Vator Splash Spring 2016 conference is around the corner on May 12, 2016 at the historic Scottish Rite Center in Oakland. Speakers include Nigel Eccles (CEO & Co-founder, FanDuel), Andy Dunn (Founder & CEO, Bonobos), Mitch Kapor (Founder, Kapor Center for Social Impact); Founders of NextDoor, Handy, TubeMogul; Investors from Khosla Ventures, Javelin Venture Partners, Kapor Capital, Greylock, DFJ, IDG, IVP and more. Join us! REGISTER HERE.
Companies may be feeling a little crunched when it comes to raising funding these days, but not all startups have the same problem. Some are finding it quite easy to find new capital.
One of those would be Medium, the online publishing platform from Twitter co-founder Ev Williams, which announced a new $50 million funding round on Thursday, led by Spark Capital. Andreessen Horowitz also put in money, as did GV (formerly Google Ventures), and Williams himself.
This round comes not long after the company raised a $57 million round in September of last year. The company has now raised $132 million in funding, and is said to be valued at $600 million.
Despite only recently raising a round, the company “decided to bolster our resources now given the demand we’ve seen for the vision we are building toward,” Williams wrote.
“We’re dedicated to building the best platform ever created for great ideas and stories to be launched into the world — and for people to find those stories and ideas that matter to them. Which means, as far as we’ve come, we have much more to do.”
In his own blog post, Spark Capital’s Kevin Thau, explained his investment in the copy, comparing it to other social media sites, and the rise of “verticalized experiences.”
“Social media has come a long way in the last decade. We don’t need convincing anymore that it is fun to share things on the Internet. In fact we have become so sophisticated with sharing, friending, and following that we are now demanding the right tool for the right job. Not just the right tool, but the right network too,” he wrote.
While Snapchat is “impulsive” and “ephemeral,” Medium is “thoughtful” and “timeless.”
“This is why we are excited about Medium. The hardest thing for companies to do is focus, but when you do it aligns everything. Medium is solely focused on being the best place to read and write interesting stuff,” said Thau.
Along with the new fund raising, Medium also got two new board members: Ben Horowitz of Andreessen Horowitz, and Judy Estrin, CEO of JLabs.
While Williams said he has known Horowitz for years, learning from him and getting advice, he was less familar with Estrin. However when he did meet with, he says he, “was blown away” by her background and “her clarity of thought about the media world of today.”
At the same time, David Sze from Greylock will be stepping down from Medium’s board, though his partner at the firm, Josh Elman, will stay on, as will Williams’ fellow Twitter founder Biz Stone.
Pinterest acqui-hires the founder of design app Curator
Daniel Nordh will be a lead product designer, helping Pinterest build its international presence
Financial trends and news by Steven Loeb
April 21, 2016 | Comments | Edit | Edit images
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Editor’s Note: Our annual Vator Splash Spring 2016 conference is around the corner on May 12, 2016 at the historic Scottish Rite Center in Oakland. Speakers include Nigel Eccles (CEO & Co-founder, FanDuel), Andy Dunn (Founder & CEO, Bonobos), Mitch Kapor (Founder, Kapor Center for Social Impact); Founders of NextDoor, Handy, TubeMogul; Investors from Khosla Ventures, Javelin Venture Partners, Kapor Capital, Greylock, DFJ, IDG, IVP and more. Join us! REGISTER HERE.
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