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John Cook's Venture Blog
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Roundup: Dashwire, Powerset, M&A, etc.

  • VentureBeat reports that Microsoft is buying San Francisco semantic search engine Powerset for more than $100 million in an effort to compete with Google.

  • The P-I's Susan Schreter offers advice on pitching to angel investment clubs, noting that entrepreneurs should not artificially boost financial projections in order to win over investors.

  • The global M&A market is taking a hit, with Reuters reporting that private equity buyout activity is off by 66 percent in Europe and 86 percent in the U.S. in the first half of the year.

  • Joe Tartakoff's series on the most influential in Seattle biotech continues, with Alan Frazier of Frazier Healthcare Ventures and A. Bruce Montgomery of Gliead Sciences making the list. ZymoGenetics CEO Bruce Carter also was picked by a group of leading biotech execs in the region.

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  • Mashable covers new features from Seattle online database provider Blist, including a new sharing function.

  • Dashwire's latest version is reviewed by VentureBeat, which says the new version of the service is much more polished. The Seattle company's product allows users of smart phones back up contacts to the Web and share video, photos and other content. I covered the company, which has raised just under $1 million, in April.

  • Redmond electronic toothbrush maker Ultreo has raised $14.8 million in venture funding, according to the Puget Sound Business Journal. The money, provided by Polaris Venture Partners, Buerk Dale Victor and others, follows the departure of chief executive Jack Gallagher and a restructuring of the sales force that took place earlier this year. The company previously raised $11.3 million.

    • Posted by at June 27, 2008 7:12 a.m.
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    John Cook: P-I venture capital reporter
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    FEATURED COMMENT

    PictureAs a startup entrepreneur, angel investor and venture capitalist with past involvement in over 25 startups here in Seattle (over a 20 year timespan, not 1 !), I have questions about the scalability and ultimately viability of Rob's approach to venture. What is always in scarce supply is not ideas, or capital, or domain names. Its always human talent. In the fullness of time, when the final accounting happens years from now, I have no clue whether Rob's portfolio of deals will have performed in line with the market, outperformed or underperformed.

    That said, I *APPLAUD* with two hands clapping Rob's involvement with the startup community. Venture capital needs innovation just like any sector or financial instrument does, and Rob is certainly bringing disruptive approaches to the formation and financing of startups. I hope he keeps it up, and I hope he's successful."

    -- Bill Bryant Monster: Great companies built for $100,000

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    IN THE MONEY
    CompanyAmount raised
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    Week of August 18
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    Week of August 11
      1Castundisclosed
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    Pacific Northwest venture capital and equity firms

    PACIFIC NORTHWEST IPOs
    Applied Precision (Canceled)
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    Intelius ($143 million filed Jan. 2008)
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    Symetra (Up to $750 million) (Delayed)
    Tully''s Coffee (Up to $50 million)(Delayed)
    Venture Financial (Up to $46 million) (Delayed)
    Varolii (Up to $86 million)(Canceled)
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