Along with a long interview I did with Slide founder and CEO Max Levchin, BoomTown also got a tour of the Web 2.0 start-up’s new San Francisco HQ from him.
Here’s the video of the visit…
Almost two years ago, just as Web 2.0 was heating up, BoomTown did a video interview with Slide founder and CEO Max Levchin.
Soon after, the popular maker of widgets and other social networking applications grabbed a big pile of cash from new investors, which put the value of the company at $550 million.
But that was before the recession hit, as well as a generally more sober outlook for a lot of high-flying Silicon Valley darlings like Slide, which have had to wise up a little and get down to business.
So, it was time for another chat with Levchin to find out what’s what.
Since BoomTown constantly called the $15 billion valuation of Facebook “insane” when Microsoft forked over $240 million in 2007, and gave Slide’s Max Levchin a very hard time when his widget company got a $550 million valuation a year ago, it’s only fair that I say something equally appropriate about Twitter.
The hot microblogging service just got its very own $250 million valuation, but without a dime of revenue in sight. (I know, Bijan, it’s coming, it’s coming!)
After all, Facebook and Slide got their funding in boom times and here we are hurtling toward a possible Depression: The Sequel.
But I am torn.
Earlier today, BoomTown posted a video of star venture capitalist John Doerr’s 10 tips to start-ups for surviving the econalypse that he ticked off at a roundtable in Silicon Valley on Wednesday.
Beside the words of wisdom from the Kleiner Perkins Caufield & Byers partner, I also trolled for advice from the panel of well-known entrepreneurs I moderated at VentureBeat’s “How to manage your start-up in the downturn” event.
The message: They will survive! (Cue the disco ball.)
Here’s a video of star VC John Doerr reciting his 10 tips for start-ups to follow in the economic downturn, dispensed at a VentureBeat roundtable event on the downturn yesterday.
And the Kleiner Perkins Caufield & Byers VC didn’t need a massive, noisy PowerPoint like Sequoia Capital to make his quick and clear points, which he delivered in four minutes flat.
Tomorrow, BoomTown is trying to find a silver lining from a group of entrepreneurs at VentureBeat’s “How to manage your start-up in the downturn” roundtable event.
Toni Schneider, chief executive of Automattic will join Max Levchin of Slide, Jason Calacanis of Mahalo, O’Melveny & Myers’ Sam Zucker, and Nirav Tolia of Web 1.0’s Epinions.
Along with my group, for whom I am planning all sorts of verbal tortures (”Exactly how much do you make?”), there is also a star-studded investors panel.
You almost have to admire the shape-shifting–if not a wee bit slippery–stylings of Slide CEO Max Levchin.
The serial entrepreneur and widget king has signed distribution deals with media giants, such as Time Warner’s Warner Bros. unit, CBS and Comcast’s E! Entertainment channel, to allow users of its FunSpace video service to look at clips from shows.
To make money, Slide will get a cut of ads sold by its media partners.
Oh my, how incredibly traditional of Levchin.
But it should probably come as no surprise that Levchin is now singing a bit of a different tune these days, as the daunting task of actually building a sustainable business model and attracting long-term advertisers has dawned on him and probably many other Web 2.0 wunderkinds.
In its ongoing bid to prove there is a robust and sustainable ad business in the social networking space, widgetmaker Slide opened a New York office and hired a big deal online ad exec.
Of course, because it has to be hip, the office is in the always trendy West Village, instead of uptown on Madison Avenue.
Oh, Max!
I just got through telling someone who asked me that I thought you, Slide founder Max Levchin, was one of the smarter Web 2.0 characters.
Then, of course, you get to be on the cover of Portfolio magazine for its “Brilliant” issue this month. Apparently, Max, you are Silicon Valley’s new “It” Boy.
But for all [...]
RockYou, widget maker, is the latest example of a sane valuation heartbreaker, as it is undertaking efforts to secure an investment from mainstream financing firms that would value the company at between $300 million and $400 million.
First reported by Valleywag last night, the start-up, said one source, “is being squired around Wall Street” by investment behemoth Morgan Stanley, in search of the same kind of deal its rival Slide got in January.
With all the noise about Microsoft’s $41 billion offer to buy Yahoo, I dropped the ball on posting about a chat I had about a week ago with Slide’s Max Levchin about the recent $50 million investment that valued the widget maker at an astonishing $500 million.
To say I was dumbstruck by the market value, given that the profitless start-up has only about $10 million to $12 million in annual revenue and a still unproven business plan, would be wrong.
Incredulous, yes. Gobsmacked, indeed. Feeling like I was back in 1999, most definitely. But not dumbstruck!
You have to hand it to Slide Founder and CEO Max Levchin, who has just launched a new blog.
The title of the blog? “You’ve Gotta Be Kidding Me: The Official Press Organ of the Maxist Revolution.”
Very funny, Max!
By spooky coincidence, “you’ve gotta be kidding me” is the working title and guiding principle of a post I am preparing on Slide’s recent $500 million valuation!
It’s Bubble Time!
As BoomTown broke the news in its post earlier today, Slide grabbed a big pile of cash from new investors–$50 million from Fidelity and T. Rowe Price–which puts the value of the company at $550 million.
In our post, we said the San Francisco start-up, whose widgets are among the most popular on Facebook [...]
Call it the Facebook Funding Effect.
I am still collecting details, but Slide–the San Francisco start-up whose widgets are among the most popular on Facebook and MySpace–is completing a round of funding that could value it at many times a multiple of its most recent $60 million to $80 million valuation.
Fortune had an interesting article by Jeffrey M. O’Brien on the links between and among the various alumni of the PayPal online payment service, focusing on the Mafia-like aspects of their affiliation.
Actually, after reading it, with all the silly sniping among some of them (now all apparently resolved), it sounded to me more like the [...]
Kara Swisher started covering digital issues for The Wall Street Journal's San Francisco bureau in 1997 and also wrote the BoomTown column about the sector. With Walt Mossberg, she co-produces and co-hosts D: All Things Digital, a major high-tech and media conference.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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