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Twitter investment: KPCB's tactical move towards Social Media
By Eureka Bharali, SiliconIndia
Bangalore: Two months back when Kleiner Perkins Caufield & Byers initiated 'sFund', the social media fund, there were clear sparks of this venture capital firm's strategy change. They re-casted the looks, from their stereotyped 'Green & Life Sciences' VC firm to a more socially amiable investment body. The latest round of Twitter funding further echoes John Doerr, KPCB partner's words, "If you don't have a social strategy, you better go get one." Doerr has been known for his early recognition of promising firms and some of the leading names like Google, Amazon and Sun Microsystems are in his kitty.
In the latest round of funding,All Things Digital reveals, KPCB has invested $150 million on Twitter whose valuation readily rose to $3.7 billion. The rest of the $50 million came in from other investors like Benchmark Capital, Union Square Ventures, Spark Capital. Doerr had been pushing hard to fund Twitter, beating out Russia's DST Global. Twitter will continue to ramp up engineering resources whether it is the human resource or technology resource which would in turn to support the growing user base.
The year 2010, was a social media year for Kleiner Perkins. They revealed their first attempt in the sphere putting across $5 million in CafeBots, a company dedicated to Friend Relationship Management followed by the investment in Flipboard, a 'social magazine'iApp. Their concentration in the sector goes one step ahead with $30 million investment in social business software maker Jive Software. With Twitter it was the year-end round-up of KPCB and today, the company might still be on the look-out to start its New Year on a social note and ofcourse, there are too many on the line like LivingSocial and ClearSpring to aim for the $250 million sFund.
