SCVNGR’s new funding — a $4 million round led by Google Ventures with participation from Highland Capital, SCVNGR’s first backer — was nailed down by mid-October, but Google and Highland wanted to wait until January 12 to announce it “so they could control how the information gets disseminated,” according to SCVNGR founder and CEO Seth Priebatsch.
Those plans were blown when Priebatsch filed the company’s Form D to the SEC on December 24, Christmas Eve, when he thought no one would be working. “I figured no one would notice,” he said.
He claims to have saved some new information for a press release, though — details on the company’s ambitious plans for expansion. Priebatsch, now 21, dropped out of Princeton to found SCVNGR — his third company — about 18 months ago.