Venture Capital needed for Web 2.0 Company

balu

Hey guys,

in the last two years I build up a web 2.0 website having currently 1.6 Million unique users a month. So actully a website compareable to netvibes from France: http://www.techcrunch.com/2008/04/18/pageflakes-acquisition-confirmed/

As you can see I have actually more users than netvibes (1.4 Mio unique users per month). And guess what: Netvibes got a $16 Mio funding from venture capitals.

Right now I make good money with my website but I think I could raise the users by 1000% in the next 12 months if I would have some support by an VC.

So, do you know if there is an VC network in Ireland?


P.S.: I'm a native German living in Galway, so you may find some grammar mistakes.

Onikage

How much cash do you need? There are other (and often better) options than VC's.

balu

To pay me and two coders (probably as freelancers) I calculate 200k for the next 12 months. We would realize all the features which are necessary and do some more strategic "things" which are needed.

200k would cover it all. But it also depends on how many shares someone would like to have for it. But the more money we can get the easier and faster we could push the project forward.

What other options are you talking about? Are there some government programs?

I think a VC would look forward to a good exit (bebo made a good deal). I wouldn't mind to sell my project to Rupert Murdoch after a while either.

Onikage

200K? I can PM you some details.

damnyanks

Not sure if you'd consider it but look at the british association for VC and angel investors. Seems to be a lot more money there (Especially in London)

farva

There are plenty of venture capital / private equity companies in Ireland, Trinity, NCB, Anglo have a private equity division, Quinlan may do... there are a good few! Just don't say you want the investment to pay your salary, don't you ever watch Dragon's Den:D

cavedave

The Sunday business post this week had an article on funding tech startups. Might be worth a read.