Socialtext’s Series B revealed
Well, the real journalist comes through with the scoop. Matt Marshall of Silicon Beat is reporting that Socialtext's Series B (about which more here) weighs in at a nice $3.1mm. Not bad, guys. Not bad. Too bad this broke on a Friday, though.
Here is Ross' post on the matter. He focuses almost entirely on the DFJ angle rather than hard numbers. Which makes sense: DFJ is a big name and they command a great deal of respect. So even though the round isn't huge, Socialtext gains some additional credibility (and no doubt solid connections) through the association.
A few interesting tidbits from Matt's article:
And word is, a large enterprise software company is also considering an investment.
That could be interesting — I wonder who is nibbling.
It's just that all of a sudden, Mayfield will be "hiring a person a week," or so he tells us.
Socialtext has 10 employees right now. They're in the middle of finding real-estate in the Valley. I'm guessing they aim to double by the fall, but I wouldn't expect much more than that. Socialtext's native conservatism would argue against it.
I'll be filling in this post as I think/read more about the news. But at the moment I need to get back to doing actual work.