Another day, another honking big funding for another online start-up (and yet another broken embargo too!).
It’s like Groundhog Day in Silicon Valley as usual.
Today, Cambridge, Mass.-based HubSpot wins tech’s version of the lottery, grabbing $32 million from Sequoia Capital, Google Ventures and also Salesforce.com.
It is unclear what the valuation for HubSpot is now, although it is likely high given it has raised $65 million now.
HubSpot makes marketing software for businesses, who use it to find prospects and generate leads, along with tools to analyze the process. It claims it has “4,000 customers, over 50 percent market share, five million leads managed, and 70 million page views tracked monthly.”
The Series D financing included HubSpot’s existing venture investors–General Catalyst Partners, Matrix Partners, and Scale Venture Partners–and part of it will be used to cash out existing shareholders. In previous rounds, the start-up has raised $33 million.
Here is the official press release:
Sequoia, Google Ventures, and Salesforce.com Invest $32 Million in HubSpot
Marketing Software Company Attracts New Strategic InvestorsCAMBRIDGE, MA–(Marketwire – March 8, 2011)–Today, for the first time ever, Sequoia Capital, Google Ventures and Salesforce.com all invested together in one company, providing HubSpot with a Series D round of financing through a $32 million investment. HubSpot provides all-in-one marketing software used by over 4,000 businesses to get found by more prospects, convert them into leads and sales, and analyze the entire marketing process.
“The fundamental way that people shop, learn, and buy has changed radically in the last few years. HubSpot helps transform the way businesses market from outbound marketing (cold calls, email blasts, and direct mail) to inbound marketing (Google, blogs, social media, mobile, etc.),” said Brian Halligan, co-founder and CEO of HubSpot.
Sequoia Capital has a long history of partnering with founders to help them build long-term, multi-billion dollar companies, including Google, LinkedIn, AdMob, YouTube, Yahoo!, Apple, and Oracle. “We back companies that are transforming their industries,” said Jim Goetz, General Partner at Sequoia Capital. “HubSpot is the emerging category leader in the SaaS marketing sector. Their customer base exceeds that of all the other relevant marketing software companies combined, including Eloqua, Marketo, Genius, and Manticore.”
“Today, every company needs to succeed in search, social, sales, and marketing–I can’t think of a more powerful trifecta than Google, Salesforce.com, and HubSpot. With 4,000 customers, HubSpot is already a clear marketing leader–now, with this new infusion of capital and recognition by Google’s venture arm and Salesforce.com, HubSpot has a great opportunity to separate itself from the pack and become the leading marketing platform in the small and medium business space,” said Brent Leary, co-founder of CRM Essentials.
Google Ventures Partner, Rich Miner (formerly co-founder of Android) said, “We agree with HubSpot’s belief that search engines, social media, and mobile devices have fundamentally changed how businesses should market themselves. We’re thrilled to support their efforts to help thousands of small and medium businesses reach potential customers.”
Dharmesh Shah, co-founder and CTO of HubSpot commented, “We founded the company based on a simple premise: Businesses want an easy-to-use, complete and integrated marketing platform that helps them get more leads and customers. We plan to use this new capital to further invest in this ambitious vision and further our existing lead in the marketing software category.”
Blogger Andrew Trench recently presented a theory on the threshold of when Internet penetration starts to matter, writing:
Social networks have also been given plenty of credit for the revolution unfolding in Egypt.
So I went and had a look at the numbers over on www.internetworldstats.com to see what they could tell us about these two scenarios. Well, fascinatingly, both Egypt and Tunisia have seen a massive growth in internet users and internet penetration over the last 10 years.
Both have now got internet penetration of over 20% and in Tunisia's case it was as high as 34%.While it is clearly simplistic to over-state this factor and there must be many more drivers contributing to such a rapid political uprising, it is obviously a factor as evidenced by the Egyptian regime pulling the plug on the country's internet access to try and block the rising tide of revolt.
My back-of-napkin theory is this: that a rapid increase in internet penetration in a repressive regime does play an important role as it provides an unfettered channel of communication allowing disaffected citizens to share views - and more importantly - to rapidly organise and mobilise.
If Egypt and Tunisia are valid case studies, it looks like internet penetration of around 20% is the mark.
Geopolitics & Macroeconomics adds:
Internet penetration: Social networking sites were critical to sustaining the momentum in the recent protests. The internet penetration in Egypt is 16%. In Libya, it is a meagre 5% [1]. The unrest in Libya has thus far remained concentrated in regions that are geographically distant from the seat of ‘real' power (see more on this below). The dependence of momentum on internet communication is far greater in Libya than in Egypt where protests began in Cairo itself.
Taking the conversation to Pakistan, Sabene Saigol writes, on BrandRepublic:
Perhaps one reason for this is that we're still not that used to communicating via the ‘net - maybe we need greater broadband and internet penetration. Personally I think it is more to do with culture - while Pakistani internet users are savvy to using social media to connect with friends, I feel they have not yet ‘crossed over' to seeing SM as a means for professional communications - or even wider social communications that go beyond their immediate circle. Yes, there are no doubt savvy people - both within marketing and tech circles, and outside - however, these people are likely a tiny proportion of the total number of ‘net and social media users.
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Dallas Cowboys' Dez Bryant faces 2nd lawsuit, for $615K
Cowboys receiver Dez Bryant faces a second lawsuit claiming he didn't pay for jewelry and game tickets and didn't repay loans.
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Small Business <b>News</b>: Social Media Brand
What is your social media brand? Do you have one? Sure, many small business owners and entrepreneurs are coming around to the enormous importance of social.
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autosport.com - NASCAR <b>News</b>: Raikkonen to compete in NASCAR
Former Formula 1 world champion Kimi Raikkonen will make a surprising move to NASCAR this year, the Finn joining the series with a new team.
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With few surprises, techies were underwhelmed with Apple’s iPad 2 announcement, but I’m confident that consumers will be thrilled with the product. Apple already had a massive lead in the consumer tablet market it created, and these “underwhelming” upgrades should keep the company comfortably ahead. Apple has given competitors an opening by sticking to 3G, and it did not further pressure them with a lower entry price point or higher-resolution display. However, Apple has three critical advantages.
1. Brand: When consumers are thinking about tablets, they say they are buying an “iPad,” not a “tablet.” The iPad was already the category and volume leader, and the iPad 2 builds on that. In this respect, Apple actually benefits from the crowd of new tablets hitting the market. If there were only one or two strong competitors, consumers would be able to weigh the pros and cons of each offering, but with dozens and dozens of options hitting the market over the next few months, decision paralysis can set in and many consumers will throw up their hands and make the “safe” choice: the iPad.
2. iTunes: The iPad is still the only tablet on the market with a huge digital marketplace for movies, TV shows, and music. Some competitors are taking steps in this direction (e.g., Samsung’s Hub), but iTunes remains a significant competitive advantage.
3. App Store: If all you want to do is browse the Web and check e-mail, any tablet will probably suffice. However, Apple has an enormous lead in purpose-built apps. The Android ecosystem is strong and app availability should improve significantly over time, but the iPad 2 is considerably more versatile than any of its competitors right now, and it appears unlikely to lose its lead any time in the near future.
So if you are competing with Apple, what should you do? Rather than copying Apple’s products, copy its old advertising tag line and Think Different.
Apple’s brand is focused on creative types (or those who aspire to be), which is why it spends so much effort creating things like GarageBand. Competitors should target IT managers, knowledge workers, outdoorsy people, or some other group and build software and hardware combinations better suited to those use cases. Of course, this will take imagination and the ability to tie hardware, software, and services together to build unique experiences. There are some companies thinking outside the box (HTC and RIM have clearly differentiated products on their roadmaps), but for the vendors who are trying to out-Apple Apple… good luck. Here are some pointers, you’re going to need them:
• Based on Apple’s financials, it is clear that the iPad with WiFi is Apple’s volume product and 3G versions are merely gravy. Why is the competition only targeting the gravy?
• iTunes remains a significant competitive advantage for Apple – I cannot easily explain to novices how to get a movie onto the XOOM. Rivals need an “iTunes” of their own, but having one just achieves parity with Apple, so partnering is an acceptable approach. However, half measures are not enough; digital media stores must include movies (including rentals) and TV shows and music. If multiple partners are used, the tablet vendor still needs to provide a common interface and single account/billing relationship.
• Nintendo has a significant base of game developers targeting the 3DS; if you cannot muster equivalent resources (for gaming, media playback, or some other use), adding 3D to your tablet is just a gimmick.
• Apple’s rivals can compete on 4G, higher-resolution displays, or a lower price. Even speed is a potential differentiator from a technical perspective; NVIDIA has quad-core processors sampling this month, so rivals could build even faster tablets for this holiday season. However, I must still caution vendors that all of these factors are irrelevant if consumers do not want your product.
Titles from major book publisher Random House will now appear in Apple’s iBooks store. The news was one of many talking points covered earlier today at Apple’s media event. Random House had previously been the only major publisher not represented in Apple’s popular iOS book store, as it was not willing to grant Apple the 30% cut taken on titles sold through iBooks. The addition of Random House is a major coup for Apple as it looks to compete with the likes of Amazon’s Kindle bookstore and other popular offerings. Hit the break for Apple’s full press release.
Random House, Inc. Makes Entire US Catalog of 17,000 ebooks Available on Apple’s iBookstore
iBookstore Now Features More than 2,500 Publishers, Including All Six Major Trade Publishers
SAN FRANCISCO—March 2, 2011—Apple® today announced that Random House, Inc., the largest trade book publisher in the US, has made its full catalog of 17,000 ebooks available on Apple’s iBookstore℠, including bestsellers by Stieg Larsson, John Grisham, Dan Brown, Danielle Steel, Laura Hillenbrand, Cormac McCarthy, Lee Child and many more of the world’s preeminent authors. Starting today, customers can pre-order upcoming releases from Random House including Lisa Gardner’s “Love You More,” Suze Orman’s “The Money Class” and Jean Auel’s “The Land of Painted Caves.” With the addition of Random House, the iBookstore now offers ebooks from all six major trade publishers and thousands of independent publishers.
“We are delighted that Apple’s iBookstore now will be carrying Random House’s US ebooks for the first time,” said Markus Dohle, Random House’s Chairman and CEO. “And we look forward to bringing our 17,000 ebooks to Apple customers.”
“We’re thrilled to offer Random House on the iBookstore,” said Eddy Cue, Apple’s vice president of Internet Services. “iBookstore customers have already downloaded more than 100 million books in less than one year, and we think they’ll love being able to choose from Random House’s incredible selection of titles to enjoy on their iPad, iPhone and iPod touch.”
iBookstore customers can choose from a wide selection of illustrated and video-enhanced books that look incredible on iPad™, including Jay-Z’s memoir “Decoded” and Bing West’s “The Wrong War”; bestselling children’s series such as Magic Tree House and Junie B. Jones; and cookbooks by Martha Stewart, Rachael Ray, and the Barefoot Contessa, Ina Garten. Random House, Inc. comprises more than 80 adult and children’s US publishing imprints including Alfred A. Knopf, Doubleday, Crown, Pantheon Books, Vintage, Ballantine and Bantam.
The iBookstore, included in Apple’s free iBooks® app, is the best way to browse, buy and read books on your iPad, iPhone® and iPod touch®. iBookstore offers ebooks from more than 2,500 publishers in more than 20 categories, including Mysteries & Thrillers, Biographies & Memoirs, Cookbooks, Children’s & Teen, Humor, Romance, Business and Travel.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple is reinventing the mobile phone with its revolutionary iPhone and App Store, and has recently introduced its magical iPad which is defining the future of mobile media and computing devices.
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It looks like women have caught up with men in numbers in the workplace. For the first time in history, women in the USA now outnumber men in the workforce, and there are now more women in supervisory positions than there are males. The question is whether they will handle the downside of working any better than men.
According to an article by Ella L. J. Edmondson Bell, Ph.D., titled The 21st Century Workplace -- Are Women the New Men?, the economic downturn has hit men harder. They held nearly 80 percent of jobs that have been lost during what is now being called the "mancession." Will women now inherit the stress, pressure, exhaustion, burn out and heart attacks commonly associated with male leaders in business?
Some predict that this new female-dominated workplace will mean a softening of the corporate culture, with more benevolent leaders. Others foresee just the opposite. Ella says many women don't want to be seen as "soft" -- and others simply aren't. No one would call Carly Fiorina, the head of Hewlett Packard from 1999 to 2005, a wilting lily. According to her memoir, Tough Choices, she was sometimes referred to as Chainsaw Carly.
All of this is especially relevant on the entrepreneurial side, since statistics show that women are starting businesses at more than twice the rate of their male counterparts. Some would argue that the growing success rate of women entrepreneurs shows that they are resourceful, and better able to succeed, despite the odds.
While I'm sure we will continue to see progress on the female side, I predict that they will struggle with the same major challenges faced today by men. These include:
- Funding your dream. Raising money is hard, whether you are counting on friends, investors, or banks. I rarely see women at angel investment groups, either asking for money, or offering to fund new ventures. Men seem more focused on this one.
- Need for increased confidence and mindset skills. Many women and men are paralyzed by perfection, plagued by pessimism, and the need to satisfy others, rather than themselves. We need more women leaders.
- Motivation to succeed. Every entrepreneur needs to love what they do, and believe so strongly in their product or service that they can weather the tough times. On this one, it's easy to spot the ones with passion, from either gender.
- Manage time and priorities. Women, often more than men, try to do too much. It's hard to balance the continual demands of the business, personal relationships, and home life. Every entrepreneur needs to prioritize the important tasks ahead of urgent tasks.
- Never stop learning. After you start your business, the learning really begins. True entrepreneurs look at failures as their best learning experiences. Networking, and using your network is the next most important element of learning.
I don't see any challenges which are so gender specific that they can't be overcome by any entrepreneur. Yet I don't think women should be convinced that the battle for equality is almost over. There is still the question of why there are so few women in high places, and why the average income for women in business is about 68% of men's income.
What I am hoping is that women will not just be the new men, and suffer from the same maladies and limitations. I'll be looking for women to create the "new business culture" that every worker wants -- better role definitions, more effective and productive leadership, and better work-life balance. That would make women entrepreneurs the new women, rather than the new men!
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autosport.com - NASCAR <b>News</b>: Raikkonen to compete in NASCAR
Former Formula 1 world champion Kimi Raikkonen will make a surprising move to NASCAR this year, the Finn joining the series with a new team.
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Donald Trump Will Win <b>News</b> Cycles With Birtherism [UPDATED]
The big 2012 news today is, naturally, pure malarkey from Donald Trump, who has inexplicably decided to base his reality-teevee campaign solely on birtherism. Here's Politico's Andy Barr:
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