Led by a handful of federal agencies -- like the National Institutes of Health, the Defense Advanced Research Projects Agency, and the National Science Foundation -- most people working on the initiative are on a forced furlough, leaving the project to gather dust in the interim.
The Hyperloop may not be such a long shot after all. Thanks to a community of enthusiasts who have gathered around the concept on the entrepreneurial collaboration platform JumpStartFund, Elon Musk's theorized high-speed tube transport system will soon have its own corporation behind it.
"We want to be the ones that actually make things happen," Dirk Ahlborn, CEO and co-founder of JumpStartFund, said in an interview Wednesday. "So of course we need to create a corporation. Whoever decides to dedicate more time to this than just logging onto the platform deserves to be part of this … Read more
Ever since Ouya launched its Free the Games Fund, gamers and developers have wondered whether some people were taking short cuts to get funding for their projects -- namely getting friends and family to donate a high amount of money to meet the project minimum on Kickstarter.
It may be because of this speculation that the gaming company announced Wednesday it was changing the rules of the fund. Now, the project minimum has been lowered to $10,000, but projects must have at least 100 backers for every $10,000 raised.
"You need to play by the spirit of … Read more
If you're an Android enthusiast, you've probably heard of CyanogenMod. If you're not, the newly incorporated company's leaders have big ideas on how to make sure you do.CyanogenMod recently flipped the switch from an Android Open Source Project (AOSP) enthusiast's dream to become a legitimate company with a team of 17 developers. Under the aegis of Boost co-founder Kirt McMaster as its chief executive, Cyanogen, Inc., has secured $7 million in Series A funding from Benchmark Capital to push it to become more than an fan project. The focus of Cyanogen's development will … Read more
A recent Uber funding round has racked up an impressive $3.5 billion valuation for the provider of an alternative car service.
According to an Uber filing earlier this month with the state of Delaware, private equity giant TPG made an investment of $88 million in the privately held company. Additionally, Google Ventures has made an investment of about $250 million in the San Francisco startup, sources who have seen other company filings told AllThingsD, which was first to report the new valuation.
Though Google Ventures is not named in the August 1 filing, the Web giant made its investment … Read more
Leaked from today's 404 episode:
- A single-serving Tumblr dedicated to the worst Kickstarter campaigns ever.
- Wait, what? Yahoo tops Google in US traffic.
- NYC programmer turns homeless man into startup experiment.
- SXSW in a nutshell: homeless people as hot spots.
Hootsuite, a 4-year-old social media dashboard for businesses, has closed a $165 million round of funding at an undisclosed valuation. The round was led by Insight Venture Partners, a seasoned New York-based firm that pumped late-stage money into Tumblr and still holds a substantial stake in Twitter.
Hootsuite plans to use its excessive cash hoard to hire, expand internationally, and make acquisitions in the social ads and analytics space, CEO Ryan Homes told CNET. In addition, the exorbitant raise includes a secondary component of an undisclosed amount, meaning that a portion of the funds will go directly to company insiders … Read more
Dropcam, the San Francisco startup that makes a $149 camera that can stream and record video to the cloud, announced $30 million in new funding on Wednesday.
That round, led by Institutional Venture Partners, along with other investments from Accel Partners, Menlo Ventures, and Kleiner Perkins Caufield & Byers, will be used to speed up product plans that originally were slated for 2015 and beyond, says Dropcam CEO Greg Duffy.
"We're pulling in most of our long-term plans," Duffy told CNET. "We're going to try to take care of those much sooner. Definitely expect new … Read more
When you see a downtrodden human, crying at the side of the road, do you wander over and ask what's wrong?
When you hear of someone who's lost love, do you offer them your ear and even your sofa?
How about when you hear that someone has embezzled $821,000 from their employer? Do you search in all your bank accounts and see if you have, say, $821,000 lying around and offer it with altruistic glee?
This apparently random question isn't quite so random. It's inspired by the case of Renata Shamrakova, who wants you … Read more
It appears that the smartphone music app Shazam is headed toward greener pastures.
The company has just received $40 million in backing from Mexican billionaire Carlos Slim, according to Reuters. Apparently, Shazam plans to use the funding to continue to build out the TV portion of the app.
"Shazam is defining a new category of media engagement that combines the power of mobile with traditional broadcast media and advertising," Slim said in a statement, according to Reuters. With the new investment from Slim, Shazam's total funding since 2009 comes to $72 million.
Shazam, which has 350 million … Read more