Thursday, 24 March 2011
Color Looks To Reinvent Social Interaction With Its Mobile Photo App (And $41 Million In Funding)
$41 million. From Sequoia Capital, Bain Capital, and Silicon Valley Bank. Pre-launch. That?s how much a brand new startup called Color has to work with. Your eyebrows should already be raised, and here?s something to keep them fixed there: this is the most money Sequoia has ever invested in a pre-launch startup. Or, as the Color team put it, ?That?s more than they gave Google.? But the founding team goes a long way toward explaining it. Headed by Bill Nguyen ? who sold Lala to Apple in late 2009 ? the company has attracted a wealth of talent. It has seven founders including Nguyen and company president Peter Pham, who previously founded BillShrink. And its chief of product is DJ Patil, who was previously LinkedIn's chief scientist. So what exactly is Color?