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PE Week Wire -- Wednesday, August 10
Random Ramblings
There is little that gets Valley girls and boys as hot and bothered as when an Internet company gets funded by both Sequoia Capital and Kleiner Perkins Caufield & Byers. So it’s worth noting that the iconic venture shops have participated in an $8.85 million Series A round for PodShow Inc., according to a regulatory filing. For an added bonus, both John Doerr and Ray Lane have taken board seats, joining both Jerry Newman of Bear Stearns and omnipresent angel investor Ram Shriram (Google, Plaxo, Zazzle, etc.), who is representing shareholder Harris MyCFO Inc.
PodShow is a Miami Beach-based company focused on the development, management and promotion of online audio programming, with an obvious focus on the podcasting phenomenon. It seems to be the renamed version of Boku Communications, which was launched last year by Ron Bloom and “The Podfather” Adam Curry (who was the MTV VJ with whom I grew up).
I can say with 100% confidence that I have no idea whether or not this is a good inv*stment, in part because of my disinterest in buying an I-pod or having much interest in podcasts in general. After all, don’t I have enough to read without feeling obligated to begin listening to lots of content? (Luddite-related: I also don’t understand the digital camera phenomenon. I only bought my first one before going to Italy, and have been tremendously disappointed with what seems to be a higher-cost, lower-quality alternative to the standard 35-milimeter). Maybe it’s just an East Coast thing and I’m just suffering from tech jetlag. In other words, no basis for deal analysis here, but I figured you’d"
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