Skip to main content

GoWalla Worth Nearly $30 Million After Financing. Time To Make Your Move, Facebook.


Austin, Texas based mobile social network GoWalla's pre-money valuation in their recent financing was $20 million, we've confirmed from multiple sources. The company raised $8.4 million in that round, making their post-money valuation $28.4 million.

That's not bad for a service that launched just months ago and has 50,000 users. Part of GoWalla's valuation is based on their PackRat Facebook application that still brings in "single digit millions" in revenue. But it's clear that Greylock, Shasta and the other investors in that round are focused on GoWalla's mobile strategy.

Silicon Valley based competitor foursquare has just over 150,000 users, and has raised just $1.35 million in funding. Their products are similar - users "check in" to places they visit. Friends can see where they are, and vice versa.

This clearly seems to be a winning model. Mobile social networks have been evolving briskly over the last couple of years, and the location based check in model seems to be what people want. Both services are expanding quickly, and passionate users chirp constantly about the services.

Austin, Texas based mobile social network GoWalla’s pre-money valuation in their recent financing was $20 million, we’ve confirmed from multiple sources. The company raised $8.4 million in that round, making their post-money valuation $28.4 million.


That’s not bad for a service that launched just months ago and has 50,000 users. Part of GoWalla’s valuation is based on their PackRat Facebook application that still brings in “single digit millions” in revenue. But it’s clear that Greylock, Shasta and the other investors in that round are focused on GoWalla’s mobile strategy.


Silicon Valley based competitor foursquare has just over 150,000 users, and has raised just $1.35 million in funding. Their products are similar – users “check in” to places they visit. Friends can see where they are, and vice versa.


This clearly seems to be a winning model. Mobile social networks have been evolving briskly over the last couple of years, and the location based check in model seems to be what people want. Both services are expanding quickly, and passionate users chirp constantly about the services.


Facebook and MySpace continue to sit on the sidelines and take a wait and see approach. That’s probably fine for Facebook (here’s why). But MySpace doesn’t have the luxury of waiting. One strong strategic move they could make immediately is to jump headfirst into this space, damn the privacy issues. MySpace may even want to do this under a separate brand. But whatever – getting their bands and artists to use the feature will lure in lots of others. This is a wide open space. The model that users want seems to be set. It’s time to move.


Here’s GoWalla in action:



Crunch Network: CrunchBase the free database of technology companies, people, and investors










Comments

Popular posts from this blog

Over A Year After Android Launch, ShopSavvy Finally Comes To The iPhone

ShopSavvy was one of the best early Android applications. It launched in October of last year after winning one of the initial Android Developer Challenge top prizes (when it was still known as GoCart). But despite the success it has seen on Android, one question remained: When would it be available for the iPhone. Today, it finally is. Developed by the guys at Big In Japan , ShopSavvy is an app that allows you to use your device as a portable barcode scanner. You point your phone's camera at any barcode and it will read it, do a product look up, and give you information about the product, as well as where you can find it online or at nearby stores and for how much. Obviously, something like this is a window shopper's dream. ShopSavvy was one of the best early Android applications. It launched in October of last year after winning one of the initial Android Developer Challenge top prizes (when it was still known as GoCart). But despite the success it has seen on Android, o

How to find ideas to post new article in your blog

How to find ideas to post new article in your blog    阅读原文»   It is true that sometimes being a blogger may face situations where I would personally like to call it your brain juices got dried up as you have pretty much ran out of topic to blog and you are in crisis as your readers are anxiously waiting for your new posts but you are unable to give in. That’s when you will probably come with excuses like I just posted last week although that post was more directly towards the newbies who stop themselves from making money but it’s still pretty much the same even though you consider yourself not a newbie. The fact is that ideas are everywhere and I mean everywhere if you know where to find it and know how to leverage it. You may be surprised that sometimes these ideas are just right in front of you but you are not observant enough to convert these ideas and turn it into your blog post. Today I will share some tips on where to get these ideas and most of it is part of your dai

Lindsay Lohan Breakup Confirmed by Lohan, Locksmith, Police [Gossip Roundup]

Farewell, last season's Suri Cruise fashions. Goodbye, Amy Winehouse's bathing suit. Adieu, humanoid version of Lauren Conrad. And so long, LiLo and SamRon's fairytale romance. Lindsay Lohan confirmed her split with Samantha Ronson and insisted the decision was part of a very healthy and mature effort to " focus on myself ." Upon hearing this, Ronson changed her locks and discussed a restraining order with police, so confident was she in Lohan's ability to turn productively inward. Lohan promptly had a run-in with the police . Who would have imagined such a messy breakup for this model relationship? Courtney Love's lawyer, on her client's drug-fueled plunge into broke-ness: ""Courtney noticed the money was gone when there wasn't any left." Deadpan gallows humor: the only possible response to having Courtney Love as a client. (Besides asking for a hefty retainer.) [ P6 ] Before Lauren Conrad's contract expired in March, MTV