peHUB First Read

Today First Read brings you the latest links on alternative funding options for start-ups; how to hire great engineers; what’s going on with the cloud and what Facebook should be working on next.


Why Kleiner May Have Just Shot Itself in the Foot: Updated

Longtime Kleiner Perkins partner Ellen Pao may have chosen an odd way to reveal to the world that she’s no longer working at the firm, taking to the social network Quora to announce the development. But from a financial, legal, and public relations’ standpoint, Kleiner Perkins may wind up the big loser in this latest chapter of its ongoing saga with Pao.

Zumper Raises $1M From Kleiner, Andreessen, Greylock, NEA, Others

Zumper said it raised $1 million in seed funding earlier this year from investors including Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Greylock Partners, CrunchFund, New Enterprise Associates, Dawn Capital, the Experiment Fund and the DeWilde family trust. Zumper is using the money for expansion.

EdenIQ Receives $3.9M Grant from California Energy Commission

EdenIQ, a Visalia, Calif.-based sustainable fuel company, has received a $3.9 million grant from the California Energy Commission as part of California’s Alternative and Renewable Fuel and Vehicle Technology Program, which provides funding for the development of new, California-based biofuel production facilities. Edeniq’s venture backers include Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, Flint Hills Renewables, […]

Reuters – Facebook’s Early Backers’ Reasons to Celebrate on Friday

Facebook‘s earliest venture-capital backers will have reason to celebrate on Friday when the social network is set to debut on Nasdaq at as much as $100 billion, writes Reuters. Some of those early investors include Kevin Efrusy of Accel Partners, Chi-Hua Chien of Kleiner Perkins and Matt Cohler of Benchmark Partners. Reuters – Facebook’s earliest […]


Jawbone Raised $160M Last Year: Now What?

In the last twelve months, Jawbone, a 12-year-old, San Francisco-based company best known for its elegant Bluetooth headsets, has raised an astonishing $159 million, including $40 million just weeks ago from J.P. Morgan Asset Management, Kleiner Perkins Caufield & Byers, Deutsche Telekom, and Russian investor Yuri Milner. While the company didn’t disclose the valuation of its latest round, the Wall […]

Top Hub Posts this Week Focus on Dallas Shindig, a Slowdown in Distributions to U.C. from KP and Sequoia and VCs Cashing in on IPOs

Here are the 10 posts that garnered the most unique pageviews from peHUB’s regular readers from Nov. 14 to Nov. 18. A photo slideshow of our Dallas Shindig topped the list, followed by an analysis of how Kleiner’s and Sequoia’s distributions to the University of California have slowed down and a look at the VCs that made bank on IPOs this week.

ONE: Slideshow: Howdy, Dallas Shindigers!by Lawrence Aragon
TWO: How UC’s Distributions from Kleiner and Sequoia Have Slowed Since 2003 (slideshow)by Mark Boslet
THREE: VCs Could Cash in on Angie’s List and 4 Other IPOs this Week (slideshow)by Lawrence Aragon
FOUR: Scorecard: American Buyout Shops In Europeby David Toll
FIVE: Why Great Entrepreneurs Take Big Risks And Sometimes Get Firedby Ben Smith
SIX: Slideshow: Permira Ramps Up U.S. Activityby Bernard Vaughan
SEVEN: One to Watch: Manu Kumar of K9 Venturesby Connie Loizos
EIGHT: Summify CEO: U.S. Immigration Issues Drove Us to Vancouverby Connie Loizos
NINE: Top 10 U.S. Buyout and Mezz Fundraisings YTD (subscribers only) – by Angela Sormani
TEN: Slideshow: Top 10 Global Cleantech Funds Raised YTD (subscribers only) – by Angela Sormani

Zynga Plans to Price IPO the Week Before Thanksgiving: Sources

(Reuters) – Zynga Inc. is currently planning to price its initial public offering and have its shares begin trading the week before the U.S. Thanksgiving holiday on November 24, two sources briefed on the offering said on Monday. The sources cautioned that the social gaming company’s plan has not been finalized and could change. They […]

Former Kleiner Partner Feng Gets to Work Erly

(Reuters) – Former Kleiner Perkins partner Eric Feng says there’s room for one more social network– built around experiences, not people. His network,, launches on Wednesday and draws on the idea that people want to organize their experiences– weddings, bike rides, or vacations– around events themselves, rather than people who participate. Critics may scoff […]

With Google’s Buy of Zagat, Kleiner Perkins and GA Cash Out After a Decade–UPDATED

What a difference three years make.

Today, Google announced it has acquired Zagat Survey. While financial terms weren’t disclosed, this would be a major win for Tim and Nina Zagat, who started the company in 1979 as a list of New York restaurant reviews compiled by friends.

The sale is the second time the founders have tried to offload the company. In 2008, the “Burgundy Bible” went up for sale and was seeking bids of 20X EBITDA or $200 million. Goldman Sachs was the advisor for the 2008 process.

Zagat, in 2008, was producing around $5 million in cash flow. Several PE firms looked at Zagat but balked at the high price tag, I’m told.


Arrington Launches ‘CrunchFund’ with $20M from Partners at KP, Benchmark, Andreessen Horowitz, Others

(Reuters) – Michael Arrington, founder of TechCrunch and one of the highest-profile U.S. technology bloggers, has created a $20 million venture capital fund to invest in promising startups, Arrington told Reuters.

Fortune magazine’s Term Sheet blog was the first to report the news.

The fund, called CrunchFund, raised an inaugural $20 million fund in September, according to TechCrunch’s CrunchBase. “Investors in CrunchFund include AOL, Accel Partners, Austin Ventures, Kleiner Perkins Caufield & Byers, Greylock Partners, Redpoint Ventures, Sequoia Capital, the founding partners of Andreessen Horowitz, each of the general partners of Benchmark Capital, Ron Conway, Yuri Milner & Kevin Rose,” CrunchBase reports.

Investor AOL bought TechCrunch in September 2010.

The move comes months after Arrington publicly announced that he had …

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