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Friday, 15 February 2013

Winner Circle: Social Business VCs Achieving Material Events | Web ...

The purpose of this post is to identify investors who have had a material event (IPO or acquisition) in the Social Business Software space. Read my other posts in this series tagged VC.

My continued research over VCs and investors in the market I cover continues, yesterday, I keynoted the Corporate Venturing Innovation conference, and showed the highlights to LPs and Corporate Bankers of who?s making bets ?and who?s winning. The following data was also covered in PEHub, and generating interest from entrepreneurs seeking funding. As an Industry Analyst, it?s key I not only understand consumer behaviors, business adoption, and startups, but also funding patterns as they influence startup growth or stagnation. This research is key in my advisory to VCs, executive teams at startups, and Corp Dev for M&A at large software companies.

Scope of Research and Methods

Definition of Social Business Software: SaaS based software companies that provide social software to corporations to use. Popular names include Jive, Buddy Media, Radian6, Lithium, Hootsuite. This does not include consumer social networks like Facebook and Twitter, a report I?ll publish in near future.
VC, Investor, Angel: These are all investors in the Social Business Software spaces. They often receive money from LPs (Limited Partners) who charge them for investing in markets. On average, VC firms have a 1-3% management fee of overall fund they manage, and have a carry of 10-30% of total take of return from a fund.
Altimeter conducted analysis of a data set of 55 Social Business Software companies (see list here) in Dec, and has not updated data set to reflect recent funding events, including Sprinklr, Spredfast this week.
One caveat that applies to all the following data, we cannot determine specific amount of which VC firm or investor has put into each round of investment. Even within the financial S-1 docs there?s cloudy wording on which firm put in what amount.

VCs are a key component of startups, they provide council, open doors, and can even help with auxiliary functions like recruiting, conferences, and biz dev relationships. Savvy VCs are doing value add beyond the check, and are starting to couple their portfolio together to build larger networks. Knowing which investor has blessed a startup is key, as it demonstrates confidence in the business model, executive team, and product roadmap. Buyers of social business should ask five key questions of startups about their investors. With that said, having investors is not a requirement, as one-third of startups did not take in investment as they can often go it alone.

Winner Circle: Social Business VCs Achieving Material Events
The following lists the startups with exit, and we listed each round of funding and who?s the investors:

Buddy Media (Acquisition)
Buddy Media acquired for an estimated $689M?(source), raised a total of

$5M WPP Digital
$1.5M Roger Ehrenberg, James Altucher, Howard Lindzon, Peter Thiel, Mark Pincus
$6.5M SoftBank Capital, Greycroft Partners, European Founders Fund, Ron Conway
$23M SoftBank Capital, Greycroft Partners, Institutional Ventures, Bay Partners
$54M Institutional Ventures, Bay Partners, GGV Capital, Insight Ventures

CoTweet?(Acquisition)
Acquired for apparently $8.1m (source)

$1.1M Founders Fund, Baseline Ventures, First Round Capital, Freestyle Capital, SV Angel, Floodgate Fund

Vitrue?(Acquisition)
Acquired for an estimated $300M?(source)

$2.2M General Catalyst Partners
$3.8M General Catalyst Partners, Comcast Ventures, Turner Broadcasting,
$10M General Catalyst Partners, Comcast Ventures, Dace Ventures
$17M General Catalyst Partners, Dace Ventures, Scale Venture Partners, Advent Venture Partners

Wildfire (Acquisition)
WildFire acquired for an estimated $350M, with $100m retention bonus (source)

$100K fbFund
$4M Summit Partners, Jeff Clavier, Gary Vaynerchuk, 500 Startups, Felicis Ventures
$10M Summit Partners

Radian6?(Acquisition)
Acquired for an estimated $326m (source)

$4M BDC Venture Capital, Brightspark Ventures, Summerhill Venture Partners
$5M BDC Venture Capital, Brightspark Ventures, Summerhill Venture Partners

Jive (IPO)
Market Cap. at $161M; currently at market cap of $994.91M and $15.47 share price as of 2/1/2013

$15M Sequoia Capital
$12M Sequoia Capital
$30M Sequoia Capital, Kleiner Perkins Caufield & Byers

BazaarVoice (IPO)
Market Cap. at $114M; currently at market cap of $560.19M and $7.84 share price as of 2/1/2013

$4M Austin Ventures, Constantin Partners, First Round Capital
$8.8M Austin Ventures, Constantin Partners, First Round Capital, Battery Ventures
$7.1M Austin Ventures, Constantin Partners, Battery Ventures

Summary:
First Round Capital?(coincidentally, not from CA, although with SF offices) leads the pack with 2 material events, including investing two rounds in BazaarVoice with a double down. Sequoia bet hard on Jive, and yielded a strong IPO, and Jive posted a strong year with over $104 million in billings for 2011, Austin Ventures continues to be the leader in frequency of bets in social business, but also was involved in BazaarVoice IPO? The following firms had one material event, and invested in one startup, in two rounds: ?Austin Ventures, Battery Ventures, Bay Partners, BDC Venture Capital, Brightspark Capital, Comcast Ventures, Constantin Partners, General Catalyst Partners, Greycroft Partners, Institutional Partners, Sequoia, SoftBank, Sommerhill Venture Partners, Summit Partners. ?

There?s 20 other folks listed above, including angels that are too numerous to list, but I?ve segmented funding frequency by round on a prior report. ?There doesn?t appear to be any clear lucky streak among this investment class, although First Round has also heavily invested in Gigya in later stage rounds, so it would be key to watch their movements as they continue to grow. ?This is just a snapshot in time, and while IPO market is unfavorable now, expect most exits to closely tie to M&A this spring, before the large software companies go on their conference tour of a larger suite. ?Expect additional M&A to happen this year, although IPOs will be fewer and far between in 2013 in social business software.

Stay tuned for future analysis on VC impacts on consumer social networks.

?
Photo used under Flickr Creative Commons by Haglundc

Source: http://www.web-strategist.com/blog/2013/02/13/winner-circle-social-business-vcs-achieving-material-events/

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Thursday, 14 February 2013

Calls for action at Senate immigration hearing

WASHINGTON (AP) ? Lawmakers who are shaping the fate of the millions of people in the U.S. illegally were told by one Wednesday that it's time to rewrite immigration laws so that they, too, can live the American dream.

"What do you want to do with me?" an emotional Jose Antonio Vargas demanded of senators. "How do you define American?"

The first Senate hearing on immigration policy this year pointed toward an emerging bipartisan consensus that the nation's 11 million illegal immigrants should be offered a path to citizenship. But passionate divisions over the issue also surfaced as one Republican decried amnesty and shouting protesters interrupted the proceedings.

"You really mean that we're not going to have enforcement, but we've got to have amnesty first," Sen. Jeff Sessions, a top Republican on the Senate Judiciary Committee, confronted the panel's chairman, Sen. Patrick Leahy, D-Vt.

Leahy and Homeland Security Secretary Janet Napolitano rejected the argument that border security must be the focus before a comprehensive immigration package or any pathway to legalization can be done.

"Too often the border security refrain simply serves as an excuse," Napolitano said. "Our borders have in fact never been stronger."

An immigration overhaul is a priority for President Barack Obama and lawmakers after a brutal election in which voters again elected a divided government. Democrats control the White House and the Senate, while Republicans hold the House majority.

But for all of the division and polarization in Washington, the hearing produced evidence of bipartisan agreement to fix what all agree is a broken system ? and finally dispense with a wrenching issue that has bedeviled lawmakers for years.

Vargas' testimony produced a striking moment in which one of the 11 million illegal immigrants at the center of the debate confronted the elected officials reconsidering the law.

A former journalist who acknowledged his illegal status in a high-profile piece in The New York Times Magazine in June 2011, Vargas recalled his journey to the U.S. from the Philippines in 1993. He told lawmakers that he never knew he was here illegally until he applied for a drivers' permit, and that he lived for years in fear until he decided to go public and start an advocacy group. He has so far avoided deportation.

"Too often, we're treated as abstractions, faceless and nameless, mere subjects of debate rather than individuals with families, hopes, fears, and dreams," Vargas told committee members. "We dream of a path to citizenship so we can actively participate in our American democracy." Democrats on the panel offered praise and encouragement. Republicans had little response.

For Vargas and others in his position the deliberations offered some encouraging signs mixed with unmistakable notes of caution.

Leahy declared in opening the hearing, "In my view it is time to pass a good bill, a fair bill, a comprehensive bill ... Too many have been waiting too long for fairness."

Sen. John Cornyn, R-Texas, said the focus must be border security. "I do not believe the border is secure and I still believe we have a long, long way to go," he said.

Protesters interrupted the hearing several times, with some shouting and waving banners against deportations, which have increased markedly under the Obama administration despite its push to find a political accommodation for many who have been living in the U.S. Later people in another group stood and silently turned their backs to the dais where the senators sat. They wore signs on their backs reading "human rights" and "immigrant rights." Leahy chided them for interrupting proceedings.

Obama says he is determined to finally make good on his promise to the Latino community to sign into law a comprehensive immigration bill with border security, employer enforcement, improvements to legal immigration and a path to citizenship for illegal immigrants already here. Meanwhile, a bipartisan group of eight senators has been meeting to develop a bill by next month that accomplishes eventual citizenship for illegal immigrants while also containing enough border security and enforcement measures to gain conservative support.

The four Democrats in the Senate negotiating group met with Obama at the White House on Wednesday, telling him they were confident a bipartisan bill could be agreed to "in the coming weeks," a senior Democrat said later, speaking on condition of anonymity because the meeting was private. A White House statement said Obama reiterated his intention to offer legislation of his own if Congress fails to act, and told senators that continuing to strengthen the border should not be mutually exclusive from a pathway to citizenship.

The Senate bipartisan plan makes a pathway to citizenship conditional on border security first, something on which Republicans have insisted. Obama's immigration proposals don't make that linkage, and it's emerging as a point of contention.

The bipartisan Senate negotiators are operating separately from the Senate Judiciary Committee, but the committee would probably vote on any legislation they produce. First, numerous thorny issues would have to be solved. Questions Wednesday touched on how to define border security, how to structure a future worker program, how to ensure employers can and will verify the legal status of their workers, and how to craft a path to citizenship that would not advantage illegal immigrants over those attempting the process legally.

The action comes in a rapidly shifting political environment. Polls find more Americans support eventual citizenship for illegal immigrants and many Republican leaders are coming around to the same view after their party's dismal showing among Latino voters in the November elections.

But, as the hearing made clear, deep divisions exist within the GOP that could threaten any legislation in the Senate, where Republicans hold enough votes to stall legislation, or in the House, where majority Republicans are waiting to see what the Senate does before taking any action.

Sen. Lindsey Graham, R-S.C., a Judiciary Committee member who is part of the bipartisan "Gang of Eight" working on an immigration bill, drew out Napolitano about the urgency of quick action on immigration legislation.

"Have you ever seen a better opportunity than the moment that exists today to pass comprehensive immigration reform?" Graham asked.

"No, this is the moment," Napolitano replied.

"Do you agree with me that the pay-offs for the nation are enormous?" Graham asked, citing improving the economy and national security.

"I couldn't say it better than you just did," Napolitano said.

But not long after, Sessions made clear that those who think the time is ripe for will face determined opposition.

"There's a lot of overconfidence about this bill," Sessions said. "If it doesn't really work it's not going to pass, we're going to expose it."

___

Associated Press writer Alicia A. Caldwell contributed to this report.

Source: http://news.yahoo.com/calls-action-senate-immigration-hearing-201427951--politics.html

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Wednesday, 13 February 2013

Small Business Seeks More Tech Support Help | MSPmentor

MSPs serving the SMB tech support market have reason for optimism about the future. According to a new report from Parks Associates, network complexity, growth of cloud services, and BYOD (bring-your-own-device) trends will help drive the U.S. market to a 14.4 percent compound annual growth rate (CAGR) between 2012 and 2016, reaching nearly $25 billion by 2016.

Parks Associates data shows that 45 percent of U.S. SMBs with 1-20 employees have paid for tech support at least once in the past year. In particular, non-employer SMBs (sole proprietors with a single employee) will total 24 million this year and often find current tech support solutions inadequate. Small business owners can spend up to 20 hours a month dealing with tech support issues, according to Parks Associates findings, and obviously when there is only one or a handful of employees this becomes a huge drain on an extremely precious time resource.

Increasing network complexity and the emergence of cloud storage and application adoption are major drivers of the growing need for managed tech support services in the SMB market. Parks Associates research indicates that cloud services popular with SMBs include collaboration, data backup, storage, and CRM.

How MSPs Can Step In

Parks Associates states that ideally tech support should be delivered by entities that have existing relationships with SMBs, like cable companies and telcos, and that tech support can provide a ?great source of incremental revenue for them and also helps keep their services sticky.? Here are a few tips for MSPs who want to successfully compete with the ?big boys? for the tech services business of the ?little guys.?

Offer Business-Specific Services ? Parks Associates identifies SMB tech support products that are ?consumer solutions on steroids? as a major problem in this space. Service providers like cable companies and telcos, which typically deal with larger organizations and also have thriving consumer businesses, are especially likely to simply take their consumer offerings and attempt to tweak them for SMB users. MSPs with an SMB practice know the wants and needs of SMBs, which are very different than those of consumers, and develop specialized tech support solutions that are a better fit.

Look to the Cloud ? SMBs are interested in using cloud technology but generally lack the internal capabilities to effectively implement or manage cloud-based applications. MSPs should be sure to offer robust cloud support offerings scaled to SMB proprotions.

Time is on Your Side ? Time is in many ways the most valuable commodity an SMB has. They don?t want to spend it performing their own tech support or waiting for a large telco provider to finish serving their large clients and get to them. Provide prompt, timely service and SMBs will notice and also tell their friends and colleagues.

Source: http://www.mspmentor.net/2013/02/13/small-business-seeking-more-tech-support-help/

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When Every Student Realizes They Can Reply All and Spam Every Other Student It's Fun for Everyone

When you connect a bunch of young college kids together on the Internet, any meeting eventually devolves into a crying mess of memes, Internet hall of fame pictures and a whole lot of trolling. So when students in Stanford's computer science program realized that e-mailing one address would contact EVERY student, well, you bet it got real fun real fast. People were dropping tubgirl, rickrolls, meatspin and because it's Stanford and it's computer science, offering jobs at startups. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/c7pOXUlEyq4/when-every-student-realize-they-can-reply-all-and-spam-every-other-students-its-fun-for-everyone

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Tuesday, 12 February 2013

Italy's ex-spy chief sentenced over CIA 'rendition'

Andreas Solaro / AFP, file

Italian Intelligence agency (SISMI) chief Nicolo Pollari in 2006.

By Sara Rossi, Keith Weir and Kevin Liffey, Reuters

MILAN -- Italy's former military intelligence chief was sentenced to 10 years in prison Tuesday for his role in the kidnapping of an Egyptian Muslim cleric in an operation organized by the United States.

An American former CIA station chief was this month sentenced in absentia to seven years in jail after imam Abu Omar was snatched from a Milan street in 2003 and flown to Egypt for interrogation during the United States' "war on terror."

The Milan appeals court sentenced Niccolo Pollari, former head of the Sismi military intelligence agency, to 10 years in prison and his former deputy Marco Mancini to nine years.

The court also awarded a provisional 1 million euros ($1.3 million) in damages to the imam, the Ansa news wire reported, as well as 500,000 euros to the imam's wife.

Nicola Madia, a lawyer for Pollari, said he was disturbed by the decision and that his client would appeal to Italy's highest court. Pollari will not have to go to jail until the appeals process has been exhausted.

Reuters, file

Egyptian cleric Hassan Mustafa Osama Nasr, also known as Abu Omar, speaks during a Reuters interview in his house in Alexandria, Egypt on May 13, 2008.

Madia said Pollari had not been able to defend himself properly because successive Italian governments had declared the case to be covered by state secrecy laws.

The sentences are part of the fallout from a campaign waged by then President George W. Bush after the September 11, 2001, attacks on the United States.

Abu Omar says he was tortured for seven months after being flown to Egypt in what was known as an "extraordinary rendition" operation. He was a resident in Italy at the time of his abduction.

Former CIA Rome station chief Jeffrey Castelli and two other American officials were convicted in their absence by the Milan appeals court for their part in the operation but are unlikely to serve their sentences.

Human rights groups have been fighting to expose heavy-handed tactics used by the CIA during the Bush administration.

Related:

Italian court convicts 3 Americans in CIA kidnapping

Source: http://worldnews.nbcnews.com/_news/2013/02/12/16937192-italy-ex-spy-chief-sentenced-to-10-years-over-cia-extraordinary-rendition?lite

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Former ?Sopranos? Star Jamie-Lynn Sigler Pregnant!

Former “Sopranos” Star Jamie-Lynn Sigler Pregnant!

Jamie-Lynn Sigler is expecting her first child with fiance Cutter Dykstra. The actress and baseball player just announced their engagement two weeks ago and reveal the pregnancy came as a surprise. Sigler, who currently stars on “Guys With Kids”, just revealed the big news to the cast of the show last week after finding out ...