HipChat raises $100k in an atypical way
Meebo founders place $50k bet into the instant messaging startup while Founders Fund matchesStaying lean and forgoing fundraising are popular approaches to starting companies these days. In keeping with that philosophy, HipChat, a provider of instant messaging for small businesses, has opted to avoid Sand Hill Road and focus on getting to profitability. The seven-month-old startup, however, did take some funds, as the recipient of a program started by blue-chip VC firm Founders Fund last year. HipChat took in $100,000, thanks to the TechFellow Awards program. The program entrusts $25,000 to entrepreneurs and innovators in the high-tech industry to either invest in a new startup or a startup of their own. HipChat was the beneficiary of $25,000 from both Sandy Jen and Elaine Wherry, both co-founders of instant messaging company, Meebo, and TechFellow ... [http://vator.tv/n/1112 read more]
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