Posted on July 12, 2007
Filed Under VC Insanity |
TheFind.com, a company that has apparently “reinvented” shopping search, just found $15 million in a third round of funding. This is on top of the money it found in its $7 million first round and $4 million second round. In total, TheFind.com has found $26 million. While there’s no information on valuation, I’m assuming it’s fairly significant.
TheFind.com isn’t exactly the prototypical Web 2.0 company. It doesn’t call itself a “social shopping search engine” (if it did, it probably would have raised around $44 million), but TheFind.com does reflect just how easy some companies are finding it to raise large amounts of capital in the current market. With all the talk of just how easy and cheap it is to build Internet companies these days, the number of companies raising large amounts, including bonafide Web 2.0 startups like Geni and Ning, leaves me wondering just where all the money is going. I have my suspicions!
In TheFind.com’s case, I was particularly intrigued because it’s a company that I had heard of previously that never showed up on my radar again, its Alexa statistics don’t look incredibly impressive, and it’s in a very competitive market that has already seen some consolidation. Perhaps investors are satisfied that the company achieved the expected milestones with the money raised in the first two rounds and feel it’s on the right path, but I can’t help but question whether the valuations that we’re seeing in some of these recent investments are out of whack with realistic exit possibilities. I guess we’ll just have to wait and “find” out. In the meantime, I’m at least thankful that some money has been put into a startup that enabled me to find a new selection of . Perhaps there’s a partnership opportunity between TheFind.com and PimpSpace.
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