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valleywag.com - 10/17/2008

SearchMe lays off 20 percent [Meltdowns]

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"Visual search engine" company SearchMe had, according to CrunchBase, 52 employees and $43.6 million in funding, led by Sequoia Capital. Just two weeks ago, TechCrunch ranked the company No. 76 in "Startups Best Positioned To Weather A Downturn." But VentureBeat confirms the company has fired ...

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venturebeat.com - 10/17/2008

Search engine startup SearchMe cuts 20 percent of staff

— venturebeat.com — The streets of Silicon Valley are running red this week. The latest startup to pare down is... search engine SearchMe , a company with high-profile investors and a warchest of nearly $40 million. [ Update : The company says it was a 20 percent ... (more) Search engine startup SearchMe cuts 20 percent of staff

Comments vote downundo vote up Gawker: valleywag found this 10/17/2008found this

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thedeal.com - 10/11/2008

VC dean Alan Patricof warns against panic, urges entrepreneurs to seize the day

— thedeal.com — Alan Patricof , founder and managing director of New York venture capital firm Greycroft Partners LLC and... an éminence gris of the U.S. investment community, sent us a statement today urging restraint in how bloggers and members of the media ... (more) VC dean Alan Patricof warns against panic, urges ...

Sequoia Capital

Comments vote downundo vote up A VC found this 10/11/2008found this

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thedeal.com - 10/14/2008

Fewer venture funds raise larger amounts in third quarter

— thedeal.com — The third-quarter data on venture fundraising is arguably old already, given all that's happened with the economy since... the beginning of October, but for what it's worth, the latest data points to a trend of fewer venture funds raising larger ... (more) Fewer venture funds raise larger amounts in third quarter

Sequoia Capital

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Will VCs Shut Down Startups and Force Them to Repay Investors?
WatchMojo.com Business & Technology — Valleywag makes the observation that Tech Crunch had just last week suggested that SearchMe was well positioned to weather the storm, mainly because of the heaping amounts of VCs they had raised.  Yet today, SearchMe laid off 20% of staffers, joining a wide array of companies to do so this week. I think Tech Crunch’s rationale (that companies that have raised oodles of money are safe) is hogwash: in this climate, I think the more VC you have raised / the more you have diluted, the more screwed you are. It’s simple: after ...

Lay off, already [Recap]
Gawker: valleywag — Layoffs, layoffs, layoffs, layoffs, Elvis impersonator, report of layoffs disappears, layoffs, layoffs, layoffs by blog post, layoffs, layoffs, rumor of layoffs, layoffs, layoffs, PDF layoff. On a brighter note, Valleywag has hired Jason Calacanis, according to ZDNet. How was your week? (Screenshot from Jason Calacanis's Flickr) ...