Author Archives: Erin Griffith
  • Memo to tech startups: If you want money, raise it now

    The frothy fundraising market may dry up soon.

    FORTUNE -- If it feels like every startup you've ever heard of is rushing to drum up large rounds of funding, that's because they probably are. It's hard to miss the string of massive rounds from recent months: Lyft raised $250 million from Alibaba Group and Third Point. Airbnb is raising $450 million to $500 million. Dropbox raised more than $500 million. Insight Venture Partners invested $250 million MORE

    - Apr 18, 2014 5:00 AM ET
  • Weibo Chairman on IPO: 'We're here for the long term'

    The Chinese social networking startup priced low but traded up.

    FORTUNE -- The market for tech stocks might be volatile now, but for Chinese social networking company Weibo (WB), that won't matter a year from now. The company, which made its public market debut on the NASDAQ today, is selling itself on a long-term growth story that includes a continued push for revenue from mobile and commerce. The company raised $286 million, valuing it at $3.46 MORE

    - Apr 17, 2014 12:12 PM ET
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  • Social data as a business is dead. Long live big data services

    Recent acquisitions by Twitter and Apple are changing the game for big data startups focused on social media.

    FORTUNE -- Yesterday morning, Twitter (TWTR) announced it had acquired Gnip, a company which packages, filters, and sells data from social media streams. The deal raised questions about the hot category of "big data" for social media, particularly for a startup called Datasift, which has raised $71.7 million million in funding from a long list MORE

    - Apr 16, 2014 4:59 PM ET
  • Exclusive: Automattic seeking to raise more than $100 million

    The round will value the company behind at north of $1 billion.

    FORTUNE -- Automattic, the company that runs blogging platforms and WordPress VIP, is out raising between $100 million and $150 million in new venture capital funding, according to multiple sources familiar with the situation.

    The round values the company at more than $1 billion and would be a slight step up from its valuation in September 2013. At the time, Tiger MORE

    - Apr 15, 2014 4:33 PM ET
  • Twitter plays defense with deal for Gnip

    Deal follows Apple's acquisition of Topsy, one of just four Twitter data resellers.

    FORTUNE – This morning Twitter (TWTR) acquired Gnip, a social data company, for an undisclosed amount. The deal will likely mint Gnip's early investors a healthy return, as the Boulder-based startup had only raised $6.64 million in venture backing with 85 employees. Back-of-the-envelope estimates say the company had been running on its own profits for some time.

    The deal marks a MORE

    - Apr 15, 2014 11:11 AM ET
  • Digital financial advisers bulk up: Betterment raises $32 million

    Funding comes on the heels of competitor Wealthfront raising $35 million.

    FORTUNE -- A crop of new websites is fighting to help manage your money. They're offering lower fees than traditional financial advisers, improved service, and a host of bells and whistles, from slick mobile apps to elaborate interactive dashboards. Increasingly, they're backed by deep-pocketed investors from the industry they're trying to disrupt.

    Betterment is the latest company to enter the fray. On Tuesday the firm said it MORE

    - Apr 15, 2014 8:56 AM ET
  • Manicube raises $5 million for in-office 'beauty chores'

    Startup has 90 corporate clients in three cities.

    FORTUNE -- Certain industries are known for their over-the-top employee perks. Workers in the finance and tech sectors, for example, enjoy such benefits as unlimited vacations and free lunches. Now you can add one more perk to the list: "beauty chores."

    Manicube, a New York-based startup, offers manicures and pedicures to working women in their offices. This week the company raised $5 million from MORE

    - Apr 14, 2014 3:07 PM ET
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  • How Zuck met Oculus: The story behind Facebook's big bet on virtual reality

    CEO Brendan Iribe recounts the steps leading up to the $2 billion deal.

    FORTUNE -- Mark Zuckerberg's acquisitions have a formula: They never, ever leak because they come together quickly. Facebook's (FB) $19 billion acquisition of WhatsApp, for example, was reportedly sealed over chocolate-covered strawberries on Valentines Day, and the deal announced four days later. One month after that, Facebook's $2 billion deal for Oculus VR was solidified over dinner at Zuckerberg's home. Within the week, the deal MORE

    - Apr 14, 2014 9:27 AM ET
  • Evernote CEO: Apps will become obsolete

    Smart devices and wearables are the future, and they won't run on apps, Libin says.

    FORTUNE -- Phil Libin, CEO of the popular productivity app company Evernote, has an issue with the phrase "the Internet of Things."

    It has come to refer to any device, appliance, wearable, or object that's connected to the Internet, and Libin thinks that's just awful. In his words, it's "the worst and most obnoxious name ever." His comments were made from the MORE

    - Apr 10, 2014 3:15 PM ET
  • Food startups are cookin': Munchery raises $28 million for meal delivery

    San Francisco-based company expands to Seattle, aims to launch in up to 20 cities.

    FORTUNE -- Food has been very, shall we say, hot among venture capitalists lately. In 2013, VCs poured $2.8 billion into food-related startups. The category picked up momentum again earlier this week when Fortune reported that Blue Apron, a meal kit delivery startup based in New York, is in the process of raising $40 million to $50 million, valuing the company at MORE

    - Apr 10, 2014 1:00 PM ET
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