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Archive for February, 2009

Video: Connectors Group Angel Investors Q&A Session

Tonight I attended the Entrepreneurs Roundtable which is a pitch and networking event in NYC. Tonight the angel investor group, The Connectors Group spoke about angel investing and what they look for in their investments. After they spoke about their organization, the attendees were offered a chance to ask questions of the team. I captured the Q&A session on video and you can watch it below.

From far left to right are: Joseph F. Daniels, Murat Aktihanoglu, Jeevan Padiyar and Gary Whitehill Jr. Murat is the event organizer and Joseph is the event host in addition to a member of the Connectors Group.

The video is worth watching as they discuss what entrepreneurs should look for in an angel investor, what type of return they look for, how they process submitted business plans, why they invest, what type of equity to give out and when you should consult with an attorney. You can just listen to it while working.

Note: you may need to adjust the audio - I haven't been able to figure out the audio levels on this newly refurbished laptop yet.

New York Events: Best Practices of Venture Capitalists in Identifying Investment Opportunities

I’m starting to release the findings from the large research study I’ve been leading on “Best Practices of Venture Capitalists and Private Equity Firms in Identifying Private Company Investment Opportunities”. My colleagues from Evalueserve and I have interviewed over 100 venture capitalists and private equity investors for this study.

I have three speaking engagements coming up in New York where I’ll be discussing our findings. I hope that you can attend! Of course, I welcome feedback/discussion.

Feb. 19, 6:30pm: Israeli Business Forum
1500 Broadway, 12th Floor, New York, NY

Feb. 24, 6:30pm: MIT Enterprise Forum,
100 Park Avenue, 24th Floor, New York, NY

March 17-18: DealFlow 2009: Facilitating Deal Flow Within Mezzanine and Junior Capital Financing in the Middle Market
Midtown, New York, NY

Among the issues I’ll discuss:
? How are you positioning yourself to become a company`s preferred investor?
? In the current tough climate, how can you lower your deal origination costs?
? What does research on deal-origination indicate are the primary sources of deal flow for institutional investors?
? What are you doing to identify companies that might be interested in being approached?
? What are the earmarks of a potential investment opportunity?
? How are you systematically identifying industries/situations in which you may be able to create new companies, rather than find existing companies?
? How do you increase your inflow of useful referrals?
? What is the best way to make warm cold calls?

I have attached the draft slides below:

PRNewser Plays Cupid; Barely Digital Launches

NYConvergence ORIGINALAlthough we didn't see any matchmaking at last night's PRNewser party at Aspen in Manhattan's Union Square neighborhood, we did enjoy the passed hors d'oeuvres and the roaring fire in the back provided by our hosts Joe Ciarallo and...

Outbrain Raises $12 Million Series B; Massive $18 Million Total Funding To-Date

OutbrainLast year NY-based Outbrain raised a $5 million Series A round of funding. Today the company is announcing a new Series B round of funding to the tune of $12 million. Including a $1 million angel funding, this brings the total funding for Outbrain to $18 million dollars. Previous investors Gemini Israel Funds, Lightspeed Venture Partners and GlenRock Israel all returned for the round and the round included new investors Zohar Gilon and Rhodium.

Outbrain provides a rating and recommendation widget that can be embedded into a blog or Web site. Outbrain has also partnered with several RSS readers to incorporate ratings directly into the reader. The recommendations can be set to only the current site or can be open to a network of sites. We've been using the widget for about a year now and have provided feedback to the Outbrain team on ways to improve the service. In December Outbrain launched the link zapper which allows their partner sites to remove a recommendation when it doesn't fit the article content.

The Outbrain service is available as a widget for most blogging and CMS platforms. There's also an API for developers to leverage.

I can only guess that this type of warchest is to hunker down to be able to have funding to last through the current economic environment. To be completely honest, the first time I read their release I thought they raised $1.2 not $12 million dollars. In my conversations with the Outbrain team, it's easy to tell that they are very well educated about the Web and are passionate about content discovery. It will be interesting to see where the monies are allocated going forward.

Update: Yaron Samid of TechAviv has some thoughts on why Outbrain got so much cash.

DubFiler Offers File Management for Musicians

dubfilerNY-based DubFiler describes their service as, "a different kind of file management site. We are DJ's, producers, promoters and we're constantly slinging files around - tune ideas, so-and-so's newest track, your new drum track. But we're tired of sites where the files expire and we have to reupload them. We're tired of flashing banners and typing in cryptic passwords. We're tired of waiting 60 seconds for our downloads to begin."

The service is basically a way for musicians to share their music inside a network. DubFiler charges $5/month for 500mb of storage.

The service is very easy to use. You upload a song and then are presented with a link that you can share with others. When visitors come to DubFiler via the link, they are presented with two options: play or download. DubFiler also provides stats on how many downloads, plays have taken place for each song.

I'd like to see DubFiler add messaging options so that listeners can leave feedback for the artist. Perhaps the messaging could even allow listeners to comment on a specific portion of the music timeline similar to Viddler's in-video-stream commenting.

GLOBALedit Launches FileSociety

NYConvergence ORIGINALFileSociety was designed and developed by the NYC-based GLOBALedit to speed the transmission of film, photo and audio production files for the advertising and marketing, publishing, printing, research and medical, architecture, retail and event production industries, allowing them to...

Forman, Karp Engage in a NSFW Talk at Razorfish

NYConvergence ORIGINALTumblr founder David Karp and iminlikewithyou founder Charles Forman discussed what's "sexy" and what's not in social media on a panel moderated by Sandbox principal Adam Devine at Razorfish's headqaurters in New York's Midtown neighborhood last night as part...

cafeBricolage Revisited

Yesterday marked the two year aniversary of my getting involved in the NY tech community. In fact, I believe February 8th, 2007, was the day I turned my love of community, technology, and innovation, into a career.

Back when I published “The cafeBricolage Manifesto,” I knew practically no one in the New York technology industry, or even New York City for that matter. Sure, I had been piping up for a few months the nextNY list, and I had been to two or three events, but aside from that, I wasn’t participating.

Boy, things have come a long way.

Reflecting on the cafeBricolage dream is not only a nostalgic exercise, but also a good marker for how far NY tech has come in two years. Back then, I wrote:

cafeBricolage would be the NYC incubator for start-ups, but it would be done in a way that NYC needs. Throw out your old concepts of an incubator, and think about this: a collective space, one part cafe and one part office, which could support up to a dozen small resident companies of various smallness, and work-space, geared toward the laptop carrying professional, embedded in a community cafe operated by the members themselves. Since we’re all tech people here, I say in in a way we can all understand: “It’s ‘co-working‘ meets ‘cooperative cafe‘ meets NYSIA meets ‘Digg’” (just kidding about the “Digg” part, it’s just something you have to say in a sentence like that).

While this dream never came to fruition, in the past two years many other dreams have.

New Work City, which grew out of cooperBricolage (which was, clearly, at least influenced by my cafeBricolage Manifesto) launched late last year, bringing a magnificent work and programming space to the New York tech and independent community.

Of course the Incubator at Rose Tech Ventures — the space I currently manage — has also launched in that time. In fact, I met David at the cooperBricolage launch party, where I overheard him talking about the early vision for our incubator. I offered to be the first tenant (as BricaBox back then) and soon thereafter my working relationship with David S. Rose and Rose Tech Ventures began. Now, we have a dozen startups under our roof, weekly programming, and dozens of community events throughout the year.

As these types of community energizing places have emerged, so have new community energizing times.

Last year we saw New York City’s first Internet Week, putting our industry on the same level of other great New York industries. We also saw the Web 2.0 Expo come to New York, making it clear to the industry elsewhere that New York City is a leading place to innovate and develop new technology. And this week, Social Media Week has kicked off its inaugural event, bringing the City dozens of free, community-led events about the area where tech and media are converging: a phenomenon New York City experiences like nowhere else.

What’s remarkable to me is that what’s emerged in the last two years is far richer and sustainable than anything I called for then. While the dream of a one-stop still has its benefits, realistically the decentralized-yet-interconnected nature of today’s New York tech industry sets the stage for futher and futher growth from places not yet imagined two years ago, like the newly-institutionalized NY Tech Meetup, its Community Committee, and the dozens of other new groups which have sprung up in such a short period of time, like Fashion 2.0, Ultralight Startups, and the Entrepreneurs Roundtable.

Looking back on these past two years invigorates me. On a purely personal level, they’ve been two years of tremendous growth. But on a community level, on the two-year anniversary of my involvement in this great thing we call “NY tech,” they’ve been two years of tremendous progress of which I am blessed to have become involved.

Onward and upward, New York!

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92YTribeca, Mashable Partner To Launch NextUp NYC

NYConvergence ORIGINALThe 92YTriBeCa has partnered with social-media news Web site Mashable to host their NextUp NYC panel discussions. The first in this series at the 200 Hudson Street location, The State of the New York Blogosphere, will take place on...

Socialvibe Sponsors Social Happy Digital Hour

The company, one which powers one of the "top undiscovered Web sites of 2008," hosted its own, unofficial kick-off to Social Media Week last Friday at the Hotel Benjamin's Emery Bar. Members of NYC's social-media scene and fans of it...