Venture capital fund Andreessen Horowitz says its $250,000 investment in Instagram will be worth about $78 million after social network Facebook Inc. closes its $1 billion purchase of the mobile photo-sharing startup.
When Twitter Inc. Chief Executive Officer Dick Costolo isn’t traveling abroad or overseeing new products to compete with social-networking rival Facebook Inc., he’s often lecturing employees on the merits of good management.
Nov. 16 (Bloomberg) -- Could a hip hop website give birth to the next go-to website for lawyers? One attorney turned entrepreneur thinks so. MAHBOD MOGHADAM: My name is Mahbod Moghadam and I'm one of the co-founders of RapGenius. I went to Stanford Law School. I graduated in 2008 and I worked at Dewey and LeBouf. After taking Dewey's deferral year, he started Rap Genius with two friends. The site allows anyone to annotate the lyrics of rap songs. MOGHADAM: Anything that's orange has been explained. If you go to a Kanye West song everything is orange. In October, the venture capital firm, Andreessen Horowitz, founded by Marc Andreessen and Ben Horowitz, invested $15 million in the company, and Moghadam set his sights on law. MOGHADAM: Our friendship with Ben Horowitz started because he really likes rap. His nickname, that he came up with for the site, is the Internet Talmud, so he instantly saw the promise of the site for legal analysis. (Source: Bloomberg)
AOL Inc. invested in a new fund for technology startups to be led by Michael Arrington, who will no longer be top editor of AOL’s TechCrunch blog, which he founded, said two people familiar with the plan.
Andreessen Horowitz, the Silicon Valley venture firm that’s raised $2.7 billion in three years, hired Chris Dixon as a general partner, tapping the expansive network of a New York angel investor and two-time entrepreneur.