Sequoia Capital

A recent FT series on the state of the UK’s tech industry asked if Britain had what it takes to  go head to head with Silicon Valley in building great new global companies.

Financing, ideas and ambition were the three areas where British start-ups are often seen as struggling, but news from Songkick, a social network for gig-goers based in Shoreditch, shows that the UK can succeed in all three.

Songkick has become the first UK company to receive an investment from Sequoia Capital, one of Silicon Valley’s best-known venture capital firms having formerly invested in Apple, Google and YouTube to name but a few. Read more

Color, a new app that makes social connections and captures events “in the round” through the medium of location-based photographs, has officially launched, with major VC firms putting $41m into the six-month old company behind it. That’s the snapshot on the Silicon Valley startup, but the bigger picture is that Color makes possible a new kind of automated “ad hoc”, content-sharing and social networking. Read more

Tech news from around the web:

  • Mark Zuckerberg’s fan page on Facebook appears to have been hacked, TechCrunch reports. A strange message appeared on the page on Tuesday and generated more than 1,800 likes and nearly 500 comments before Facebook took it down:

Let the hacking begin: If facebook needs money, instead of going to the banks, why doesn’t Facebook let its users invest in Facebook in a social way? Why not transform Facebook into a ‘social business’ the way Nobel Price winner Muhammad Yunus described it? What do you think? #hackercup2011

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  • Google is looking for the next Google. With Google Ventures, a new venture capital arm, the internet search giant hopes to expand its already outsized influence on Silicon Valley and eventually rival established venture firms such as Kleiner Perkins and Sequoia Capital.
  • Facebook is replacing its chief financial officer as it seeks to balance rapid growth against increased capital needs and a closed IPO market. Speculation about Facebook’s financial health has been rampant of late, but today details emerged that suggested the company is in better shape than many thought.

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