Blippy Shows Its Own Funding On Blippy. And Now Everyone Can See.
by MG Siegler on January 14, 2010 - Tech Crunch
People love Blippy. Well, they love to talk about Blippy. And complain about it. And argue that it’s the end of privacy as we know it. But some people do actually love Blippy, the service which lets you share you credit card transactions with the world. In fact, a number of investors do, as the service has just raised a $1.6 million round of funding.
The large angel round was led by Charles River Ventures. Also participating are Sequoia Capital, Evan Williams, Jason Calacanis, James Hong, Ariel Poler, and Ron Conway. A pretty impressive list.
Blippy co-founder Philip Kaplan is also putting his money where his mouth is and investing. The fact that Charles River Ventures is leading the round should surprise no one since Kaplan left his role there as an Entrepreneur In Residence to help launch Blippy. CRV’s Saar Gur is also taking a seat on Blippy’s board.
Alongside the funding news, Blippy has another big announcement: They’re opening up to everyone today. You’ll no longer need an invite; simply visit the site and sign up.
So why did Blippy feel the need to raise $1.6 million? “There was a lot of interest,” Kaplan says. “We trust this gets us through at least the next 12 to 18 months. Enough time to prove the model,” he continues.
And that model is key. While the site may be controversial right now, the possibilities are interesting. If Blippy is able to prove that people don’t mind sharing their purchase data, a number of potential business plans could spring up. Affiliate fees are an obvious one, but think about featured vendors, and maybe even Blippy credit cards eventually too. (more)
People love Blippy. Well, they love to talk about Blippy. And complain about it. And argue that it’s the end of privacy as we know it. But some people do actually love Blippy, the service which lets you share you credit card transactions with the world. In fact, a number of investors do, as the service has just raised a $1.6 million round of funding.
The large angel round was led by Charles River Ventures. Also participating are Sequoia Capital, Evan Williams, Jason Calacanis, James Hong, Ariel Poler, and Ron Conway. A pretty impressive list.
Blippy co-founder Philip Kaplan is also putting his money where his mouth is and investing. The fact that Charles River Ventures is leading the round should surprise no one since Kaplan left his role there as an Entrepreneur In Residence to help launch Blippy. CRV’s Saar Gur is also taking a seat on Blippy’s board.
Alongside the funding news, Blippy has another big announcement: They’re opening up to everyone today. You’ll no longer need an invite; simply visit the site and sign up.
So why did Blippy feel the need to raise $1.6 million? “There was a lot of interest,” Kaplan says. “We trust this gets us through at least the next 12 to 18 months. Enough time to prove the model,” he continues.
And that model is key. While the site may be controversial right now, the possibilities are interesting. If Blippy is able to prove that people don’t mind sharing their purchase data, a number of potential business plans could spring up. Affiliate fees are an obvious one, but think about featured vendors, and maybe even Blippy credit cards eventually too. (more)
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