Kaboodle gets $3.55M Series A
Date: Thursday , June 01, 2006
Finding difficulty in collecting and sharing on web? Then look no beyond than Kaboodle. A startup that promises to make collecting, organizing, and sharing information for shopping, travel or any other research better, faster, smarter and lot easier.
It was with this premise that the VCs including Shea Ventures, Garage Technology Ventures and Alpha Group invested $3.55 million in Series A in the firm started by Manish Chandra and two other friends. The round also included angle investors like Kanwal Rekhi, Rajeev Motwani, Ashish Gupta, Naren Bakshi, John Dougery and Ron Conway.
Speaking about the VC interest in his company, founder Manish Chandra said the VCs showed interest in his company because it automatically extracts relevant information from any web page enabling consumers to make better choices about online shopping, travel and research. Chandra says, “Kaboodle’s opportunity and uses are to be a core fixture in how people collect and organize their search results across the web.”
Speaking about the market opportunity, Chandra says Kaboodle’s market opportunity is very large with uses ranging from shopping to travel to any other form of research. A simple way to map the opportunity is to look at the broader search market and then project it as a percentage of the search market. “Search advertising should total over $10 billion in 2006. Collecting and sharing of information has an opportunity to capture 10-15 percent of this market in the long term.”
Kaboodle competes with social bookmarking services and new collection service start-ups, Chandra says adding Kaboodle’s core advantage is its ability to automatically extract and summarize relevant information from multiple sources on one web page that becomes the focal point of collaboration.
Based in Santa Clara, CA, the company has 18 employees, some of whom are located in India.