Paying for recorded music is a voluntary act -- you can get almost any tune you want on demand from streaming music services or YouTube. Of course, musicians wind up making little or no money from this arrangement, but thanks to crowd-funding, bands can get paid in advance of making a record. At least initially there are no freeloaders, so the band really has an incentive to record! The same Internet that made it harder than ever to make a living from recorded music has made it possible for bands to directly connect to their fans.
For years PayPal has cornered the market on sending money to friends, family members, and businesses. Last week during the chaos of Google I/O announcements, Google took a first step toward giving PayPal a run for its money by making it possible to send money via Gmail. The feature is set to roll out to all users over the coming weeks, but if you know someone who currently has it, that person can send you money (a penny works) and after you've claimed the funds the new feature will be enabled on your account as well.
The service, … Read more
Crowdfunding sites set up by friends and families of the Boston bombing victims are giving the world a way to help. And the world is stepping up.
As of this writing, Bucks for Bauman on GoFundMe has raised more than $192,000 in two days for Jeff Bauman, a 27-year-old marathon spectator who lost both legs to the blasts. Bauman also reportedly helped ID the suspects from his hospital bed.
"Medical bills are going to start rolling in, let's get a head start on helping out Bauman and his family! Every dollar counts!!" reads an introduction by Brooke Gibbs, who started the site. It's just one of a number of crowdfunding efforts that have sprung up this week to aid Boston Marathon bombing victims through grassroots campaigns -- and have collectively drawn more than $1 million in a matter of days. … Read more
Foursquare has been able to raise a whopping $41 million, but the funding hasn't come in the form you might expect.
The company announced the news today, saying the cash came from a host of well-known Silicon Valley investors, including Andreessen Horowitz, Union Square Ventures, and others. However, rather than give those firms equity, Foursquare raised the $41 million through a combination of tapping into the Silver Lake Waterman growth debt fund, as well as asking for convertible debt from the aforementioned investors, among others.
The cash raised helps Foursquare fund its growth and also aids the company in … Read more
If the first quarter is any gauge for U.S. venture capital funding, there's not a lot to look forward to for the rest of the year.
The number of funds that raised money for venture capital in the first quarter of 2013 was fewer than any other quarter in the last 10 years, according to a new report by Thomson Reuters and the National Venture Capital Association (NVCA).
Thirty-five funds contributed to venture capital fundraising last quarter, which is a 14 percent decrease in the number of funds from the final quarter of 2012. The slowest quarter in … Read more
AUSTIN, Texas -- If a Web comic about bears, beastiality, righteous indignation, and Nikola Tesla tickles your funny bone, the place to be at this year's South by Southwest Interactive was Exhibition Hall 5 in the Austin Convention Center.
Matthew Inman, creator of the Web comic The Oatmeal, entertained a packed room at the close of the Interactive segment of the festival. Inman might appear to some as an unlikely hero of the Internet and an unusual choice to deliver a closing keynote address, but he found himself right at home on stage.
"I'm not a cartoonist. … Read more
Over the past few years, Kickstarter has become a force to be reckoned with. Some of the coolest and weirdest gadgets I saw at this year's CES didn't come from big corporations or even small ones -- they came from independent inventors who found funding and encouragement through Kickstarter.
Which isn't to say that every Kickstarter project is a hit. The site is also a graveyard of hackneyed ideas, indie records, and films that no one wants to see. But when a Kickstarter campaign hits the right nerve, it's an exhilarating flip of the supply-and-demand model … Read more
For three years in a row, Apple was the most popular stock among hedge fund managers, but according to new data from Goldman Sachs, it's on the decline.
Goldman Sachs' data, which was obtained and reported on by AppleInsider, indicates that insurance giant AIG was the most popular hedge fund pick last year, with 80 funds holding its shares. Google came in second place with 73 funds. Apple, which had previously led the space, is down to 67 funds.
Apple's declining popularity among hedge fund managers might have something to do with its ability to deliver returns. According … Read more
"This investment is a tremendous vote of confidence in our business from the people who know us best, our current board members and investors," he said in a memo viewed by CNET. "They have reviewed our plans for 2013, and they are enthusiastic enough to want to commit additional financial resources through this round."
The financing followed a "competitive process" in which … Read more
Hedge funds that drove up the price of Apple's stock were also responsible for driving it down, Reuters reported yesterday.
After reaching a high of $705 in September, shares of Apple started getting battered in the fourth quarter.
The stock was especially hit hard after Apple revealed its fiscal first-quarter results last month, numbers that disappointed Wall Street. The company achieved record revenues. But some analysts and investors worried that higher competition and lower profit margins mean that Apple's best days are behind it.
As a result, many of the hedge funds with huge positions in Apple dumped … Read more