Reinventing KP
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Reinventing Kleiner Perkins

This week, two widely read pieces have been published about the trials and tribulations of Kleiner Perkins — and how it plans to regain its spot at the top of the venture capital universe. But neither addresses the biggest issue confronting the 41-year-old firm.

Midas List is Back; So is Status for Industry Big Names

Back after a two-year hiatus, Forbes’ Midas List of venture investors notes how the investment markets have changed. The secondary trading of private company shares is now a big deal, and micro-cap funds play a bigger role in early-stage financing. Overseas, competition heightened at precisely the moment that financial worries tripped up Western economies. Despite […]

Forbes’ Sloppy Wet Kiss to Supercharged Groupon

In its upcoming edition, Forbes publishes a glowing profile of Groupon, the group-buying Internet phenom that was valued at $1.35 billion back in April when it raised $135 million from Digital Sky Technologies. Little wonder: the company is reportedly on track to pull in more than $500 million in revenue this year.

Indeed, if I’d sat down with its 29-year-old CEO, Andrew Mason, I’d have swooned over the numbers being thrown out, too. Here’s just one snapshot from the piece:

In May Groupon sold 6,561 tickets to a King Tut exhibit in New York’s Times Square for $18 apiece, little more than half the list price. The campaign brought in $120,000 at virtually no marginal cost to the exhibit; Groupon pocketed about 50% for a day’s effort. The most popular item so far: a $25 ticket for a Chicago architectural boat tour sold for $12. In May Groupon moved 19,822 tickets in eight hours and split the $238,000 with the tour operator.

Forbes Sells Investopedia for $42 Million, Ignores PE

Forbes Inc. has agreed to sell Investopedia to ValueClick for roughly $42 million in cash. ValueClick will retain Investopedia’s management team and employee base. The business will run as a wholly-owned unit, according to a statement.

Founded in 1999, Investopedia is an investing education and financial information web site. The Edmonton, Canada-based company provides a library of financial terms, articles, tutorials and investing education tool. It attracts 2.2 million unique U.S. visitors per month, according to comScore.

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No, Bono Is Not “The Worst Investor In America”

Is Elevation Partners “the worst run institutional fund of any size in the United States?” That was the assertion of a Wall Street 24/7 post earlier this week, and a bunch of readers have emailed me for reaction.

So I decided to take a dive into the media/tech-focused firm’s portfolio, from a financial perspective. What I found was hardly cause for celebration, particularly for a shop whose high-profile partners include Bono, Roger McNamee and Fred Anderson. At the same time, however, calling Elevation “the worst” is to give hyperbole a bad name.

The knock on Elevation is that three of its largest investments are major duds: Palm, Move.com and Forbes Digital Media. So let’s look at them one by one:

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Not All That Glitters… Forbes Scraps Its Midas List

Forbes will not publish its annual Midas List next year, peHUB has learned.

A company spokeswoman confirmed the decision, saying that there are no current plans to revisit it. Really a shame, given that 2010 would have been the year in which Google’s IPO would have no longer factored into the rankings.

For the uninitiated, Forbes’ Midas List is designed to “identify venture capitalists who generate profits for their investors and assist in building valuable, long-lived technology and life sciences companies.” It’s considered the bible for VC bragging rights, with firms quick to send out indulgent press releases when one of their partners makes the cut.

Velocity Blog Picks Up Steam

People start blogs about the Silicon Valley tech scene every day, but the Forbes Velocity Blog is particularly notable because it’s written by one of the best journalists in Silicon Valley.

Brian Caulfield is a relentless reporter and skillful writer and the blog effort he spearheads is an important strategic addition to the Forbes family of publications. Outside of the Midas List and Brian’s coverage of the computer and gaming industry, Forbes has been surprisingly weak in its coverage of such a key part of the global wealth generation equation.

AEI Raising a Fund

Advanced Equities took one on the chin from Forbes last month in an article calling the company out for foisting poor investments onto the unsuspecting. AEI fired back with a concise letter to the editor. Now the firm is out fundraising for a new investment vehicle: Advanced Equities Peregrine IV. The $20 million-targeted fund has […]

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