PayPal co-founder Max Levchin is launching a new mobile payments start-up called Affirm, the first project to come out of Levchin’s San Francisco tech incubator.
Venture capital firms in the United States raised $20.6 billion from 182 funds in 2012, new figures show, with Australian start-ups among those that benefited from the surge in investment cash.
It appears that the ‘lean’ spirit of modern entrepreneurship has finally inspired the Australian venture capital industry to invest in early stage start-ups – a trend is set to increase due to the accelerator boom.
A venture capital firm backed by PayPal co-founder Peter Thiel has teamed up with another investor to pour US$49 million into New Zealand-founded start-up Xero, increasing the total amount raised to date by the cloud-based venture to US$67 million.
One of the big advantages of the increasing ubiquity of technology in start-up businesses is that national borders have become less of a barrier for them.
Seek co-founder Paul Bassat has flagged his intention to do private equity deals in the media and technology sectors, having already set up an early stage investment fund earlier this year.
Honesty is a virtue often underrated by start-ups seeking investment, according to local start-up ScriptRock, after it raised $1.2 million in a round led by vaunted US serial entrepreneur Peter Thiel.
Early Facebook investor Peter Thiel has used the fortune he made from Facebook’s IPO to launch a new $402 million venture capital firm, which is looking globally for potential deals.
Facebook’s much-hyped float saw its shares gain just 0.97% to end at $US38.37, but the IPO looks set to be a boon for start-ups, as the company’s cashed-up founders and early investors look to sink funds into ventures such as Quora and Crowdmob.
Start-up chief executives shouldn’t pay themselves more than $150,000, according to tech veteran Peter Thiel, prompting local businesses to highlight the benefits of being frugal.
Peter Thiel has set up a $40 million venture capital fund in partnership with the New Zealand Venture Investment Fund, which could be open to Australian start-ups prepared to relocate.
Kevin Rose had everything going for him. A strong personal brand and network, $1.7 million in funding and a team of super smart people that could probably build any consumer web/mobile concept you threw at them – and build it well.
Accountancy software company Xero has raised $15 million to fund global growth and has made its first acquisition for the year, snapping up Max Solutions in a deal worth almost $5 million.
This week’s news that Sir Richard Branson has invested in US start-up Square made headlines because, well, it’s Sir Richard Branson.
Facebook founder Mark Zuckerberg has downplayed Silicon Valley’s reputation as a destination for start-ups, describing the Californian region as “a little short-term focused”.
So much for a quiet read – sound-tracked eBooks have arrived on the market. Publishers are releasing versions of classics with orchestral scores and sound effects, such as crunching gravel.
US venture capitalist Peter Thiel has offered $100,000 to 24 young entrepreneurs providing they stay out of college for two years to further their business ideas.
The world’s major economies may have struggled to get back to pre-GFC growth levels last year, but the world’s wealthiest people appear to have been nicely insulated.