Earlier this year, I had predicted a fairly bright future for the tech market in 2006. I may very well be WAY off on the stock market prediction but stock market predictions are basically opinions and you know what they say about opinions.
Nonetheless, I see that social networking site 900 Seconds Gets $6.5 Million in funding today. For those in the tech reporting business, this must be a fun year since an announcement like this seems to be flying at us 7 days a week. The name “900 Seconds” sounds like a bit of a shameless rip of the 43things branding style but then every good thing gets copied doesn’t it? There is very little information about this new start-up but I’m intrigued by the amount of money they raised in the first round. Certainly, this year seems to be all about one web 2.0 funding after another but this is a decent chunk of money so I’m hopeful that this is really an interesting concept.
In any case, this makes me think about the web 2.0 phenomenon and how that might equate to the number of overall financings that are announced this year. Will it be dramatically more than the number of VC financings last year? The pace feels pretty hot to me but so far but it’s only April. We’ll see. I’d be interested to know if anyone has tracked this so far. If not, I’ll try to tally it all at the end of the year.
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