tumblr – series b
Tumblr Pulls In $4.5 Million In Funding, Puts Out Premium Services
Tumblr, one of the companies that significantly lowered the bar for starting a blog, has just raised $4.5 million in a Series B round led by Union Square Ventures and Spark Capital, the same investors that put in $750,000 in the first round. CEO David Karp says the investment will give the startup a runway of at least two and a half years, and is introducing paid features at the same time.
Furthermore, former Time Warner technology SVP (and current CEO of Betaworks) John Borthwick is joining the board, while former CNET director John Maloney will act as the New York-based company’s President.
Tumblr serves zero ads on it pages, and generated an equal amount of dollars so far. Now, Tumblr will have premium services to make up for that, although it’s unclear what the services will be exactly. Karp did mention they were gonna be ’sexy’, so we’re moderately curious now.
Source: techcrunch.com
Tumblr has kept their own and competed well with Twitter and Pownce and a few others. I have always liked it, and with this injection of new money, I wish to see them introducing new features etc. Well deserved a QV.
QV Score:4.375
Rationale:
- Relatively inexperienced founding team
- Stiff competition
- Strong board/investor group
