US Search Start Ups May Struggle for Funding
July 17, 2010
“Venture Capitalists Not Finding Funding Either” may mean good news for pharmacies selling Pepto-Bismol but bad news for search start ups. The write up said:
According to Thomson Reuters and the NVCA today, thirty-eight U.S. venture capital firms raised $1.9 billion in the second quarter of 2010, down 49 percent compared to Q1 this year, when 38 funds raised $3.7 billion. Thomson Reuters and the NVCA said that the quarter is the lowest–based on dollar commitments–since the third quarter of 2003.
I have heard that a number of search and content processing vendors are gasping for air. There’s an outfit in Chicago looking for funds or a buyer. There’s a vendor out west sweating bullets. There have been some rumors of trouble at one high profile outfit.
Without friendly VCs looking to fund the next Google, search start ups may struggle for funding.
Stephen E Arnold, July 17, 2010
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