Venture Beat raises money
by Chris Roush
Venture Beat, the web site that covers Silicon Valley news started by former San Jose Mercury News business reporter Matt Marshall, has raised $320,000 in funding.
Marshall wrote, “Weâ€™ve been hiring writers and we have record traffic. Iâ€™ve bootstrapped the company thus far, and while itâ€™s been rewarding, thereâ€™s just so much more weâ€™d like to do. Weâ€™ve been pretty much in the black since I launched, and Iâ€™ve hired writers as cash afforded. Now that weâ€™ve got our feet on the ground, its time to get to the next phase.
“Weâ€™ve raised $320,000 cash from a number of angel investors, including Georges Harik, a very early employee at Google and manager of several of its early products; Aydin Senkut, another early Google employee who is now running a small angel fund called Felicis Ventures; Mike Brown, an investor at Foundation Capital, but who invested on his own accord; Philippe Cases, an investor specialized in open source; MHS Capital; Amidzad; and Elliott Donnellyâ€™s White Sand Group among others.
“Obviously, with investors come potential conflicts. Each one of the investors is aware of VentureBeatâ€™s determined focus on independent reporting, and we wonâ€™t be changing that. If we write about a topic where we feel we have a conflict, or a perceived conflict, weâ€™ll disclose it clearly in a story.”
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