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	<title>BoomTown &#187; Frazier Technology Ventures</title>
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		  <title>All Things Digital</title>
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		<title>The Real News of Wetpaint's $25 Million Funding: Fidelity Kicked In</title>
		<link>http://kara.allthingsd.com/20080519/the-real-news-of-wetpaints-25-million-funding-fidelity-kicked-in/</link>
		<comments>http://kara.allthingsd.com/20080519/the-real-news-of-wetpaints-25-million-funding-fidelity-kicked-in/#comments</comments>
		<pubDate>Mon, 19 May 2008 09:56:49 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[social networking]]></category>
		<category><![CDATA[Accel Partners]]></category>
		<category><![CDATA[DAG Ventures]]></category>
		<category><![CDATA[Fidelity Investments]]></category>
		<category><![CDATA[Frazier Technology Ventures]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[Seattle]]></category>
		<category><![CDATA[Slide]]></category>
		<category><![CDATA[Trinity Ventures]]></category>
		<category><![CDATA[Web 2.0]]></category>
		<category><![CDATA[Wetpaint]]></category>
		<category><![CDATA[wiki]]></category>

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		<description><![CDATA[While Wetpaint's $25 million new round of funding was leaked to one and all under embargo until 12:01 am EST today--including BoomTown, so don't assume any of us report our little hearts out on all these bits of news--what the press release did not disclose, sources said, was an intriguing new investor: Fidelity Investments.

What's interesting about this wrinkle is that it is yet another validation in Web 2.0 world from a large traditional institutional investor.]]></description>
			<content:encoded><![CDATA[<p><img src='http://kara.allthingsd.com/files/2008/05/images.jpeg' alt='wetpaint' /></p>
<p>While <a href="http://www.wetpaint.com">Wetpaint</a>&#8217;s $25 million new round of funding was leaked to one and all under embargo until 12:01 am EST today&#8211;including BoomTown, so don&#8217;t assume any of us report our little hearts out on all these bits of news&#8211;what the press release did not disclose, sources said, was an intriguing new investor: Fidelity Investments.</p>
<p>What&#8217;s interesting about this wrinkle is that it is yet another validation in the Web 2.0 world from a large traditional institutional investor.</p>
<p>Fidelity, with T. Rowe Price, already plunked down <a href="http://kara.allthingsd.com/20080118/slip-sliding-into-a-fortune/">big bucks to invest in widget king Slide</a> in January. </p>
<p>Seattle-based Wetpaint, which allows users to make wikis and social-networking sites easily, has raised about $40 million in total so far. New investor DAG Ventures led the current round, which included investors from two previous rounds (Frazier Technology Ventures, Trinity Ventures and Accel Partners).</p>
<p>BoomTown could not determine exactly how much Fidelity kicked in to Wetpaint in this round, although it did pony up almost half the new $50 million Slide investment. </p>
<p>Wetpaint, which also announced a new embeddable product called Wetpaint Injected today that sounds cool, says it will use the additional funds to goose its collaborative&#8211;or as we like to call it: <em>wikified</em>&#8211;social publishing platform. </p>
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