Gawker: valleywag, albert wenger

Twitter backer funds Google rival

Nicholas Carlson — Mon, 21 Jul 2008 16:40:00 EDT

Union Square Ventures partner Albert Wenger says he's invested $1.5 million in New York-based cloud-computing startup 10gen, a company founded by some ex-DoubleClickers and a Joost engineer, because there are "some serious issues" with Google's App Engine, a service which allows startups to run applications on Google's servers. Namely, Wenger thinks Google will run the platform's rules to its own competitive advantage. [Union Square Ventures]

Why VCs love Twitter's downtime problems

Nicholas Carlson — Wed, 21 May 2008 18:20:00 EDT

Last we heard about microblogging service Twitter's latest funding round, Union Square Ventures partner Albert Wenger told us — and, via Twitter, the world — that he was taking a lunch meeting at Twitter HQ. That was April 25. Despite rumors of an imminent deal, there's been no announcement. So why can't Wenger and his USV partner Fred Wilson close the deal? One theory: an unexpected bidding war over a service that grows more mainstream every day. A source familiar with this type of funding situation explains: "You know that thing about failure is an orphan, success has a million dads? VCs want to buy the right to say Twitter was theirs." And for this crowd, Twitter's downtime problems are a bonus.

The scaling shit only bugs nerds. Most people aren't doing enough messaging volume to notice. The people bitching are the ones who would never leave. Actually, whoever invests in Twitter is getting IP rights to something that solves a whole *class* of scaling problems, i.e. not just what's wrong with Twitter. I mean, I assume Twitter is a feature of everything going forward. Either Twitter proper, or that capability. That means everyone who succeeds will encounter this issue. If there's five non-Google companies in the world who've figured this out, I'd be shocked.

That, and the right to thump their chests and brag to their VC buddies that their money solved Twitter's breakdowns.

VC takes Twitter founders out to lunch

Nicholas Carlson — Fri, 25 Apr 2008 18:00:00 EDT

Someone carefully let it be known today that Twitter cofounders Evan Williams and Biz Stone are looking for $15 million in venture-capital funding. We emailed existing Fred Wilson, a partner at Twitter investor Union Square Ventures, to ask if Twitter's been in touch, looking for a re-up. Wilson's unresponsive answer: "Yes, Union Square Ventures is an existing investor in Twitter." Lucky for us, Wilson's colleague Albert Wenger isn't nearly as discreet. He Twittered about his destination for lunch: Twitter headquarters.