It’s now official, so I can finally blog about it: Gemini Ventures made a seed investment in eSnips. This investment will be very helpful to us in the short and longer term as we continue to build eSnips. Gemini is an excellent VC, with an amazing track record of successful exists in Technology start ups. It’s actually the leading Technology VC in Israel with $550M under management. Their team was very impressive and amazingly quick in executing this deal. It was completed in two weeks - a record - breaking speed, according to all the professional teams involved. Danny Cohen is the partner from Gemini who lead the investment. He’s moving to the Bay area this summer.
So what are we planning to do with the money? Well, it’s a seed investment, so we want to manage it carefully. We're not planning to enlarge the team in the next 6 months, other than the addition of one ‘non - tech person’ (…it’s about time!). We'll remain small, and use the funds primarily to finance our operation, add cool features to eSnips and invest in hosting equipment that will allow us to serve you, the eSnippers, and those who access your content, with the fastest and most reliable service possible.
Well, we might manage one small bottle of champagne to celebrate...:)
Congratulation to u all, i really like esnips very much, hopefully it is getting better soon :)
Posted by: David | February 19, 2006 at 09:56 AM
My congratulations to you also. Good job.
Well how much do you all need to remain small or grow? Where'd I find that sort of info?
This esnips rather magical, it seems. The more I use the thing the more it seems to expand and grow and get even more quite delicious!
Come to think of it, dang! I just realized the time I used to spend all over yahoo.com, and I LOVE Yahoo, I haven't been there much of late. esnips, you guys sure do rock!
Walk good!
Posted by: howardaverellbrown | September 21, 2006 at 01:37 PM