Web 2.0 Continues Its Streak With VCs
August 8th, 2007 by Jim Savage
The interest in Web 2.0 has become the buzz word du jour in the business and consumer markets. No doubt you belong to countless online networks, including Facebook, MySpace, LinkedIn among others. You probably read numerous blogs now as part of your morning routine. Even if you don’t participate actively in the conversation, you can’t deny the very real power behind Web 2.0 applications.
Here at Longworth we have thoroughly researched the market and identified companies we view as emerging industry leaders. Current investments include Scrapblog and Sermo. Scrapblog is the first web-based service for creating and sharing multimedia scrapbooks. For more information about Scrapblog’s innovative ideas, read our previous Q&A with Carlos Garcia, CEO of Scrapblog. Sermo is an online community that creates a place for physicians to submit and discuss their clinical observations and challenge or corroborate each others’ opinions. We look forward to posting a Q&A session featuring Sermo CEO Daniel Palestrant in the near future.
According to a recent Financial Times article, the growing popularity in Web 2.0 technologies helped bolster a record growth of venture capital investments for the second quarter of 2007. In fact, VC firms invested a total of almost $1 billion dollars in IT-based services, including Internet companies that produce blogs and social media networks. The U.S. venture capital industry hasn’t put that much money into Internet-based start-ups since the dotcom bust. This reinforces what we, as Web 2.0 observers, have been noting for some time; people and businesses are increasingly relying on innovative tools to create a sense of community and common interest in their personal and professional lives. Web 2.0 is a platform for unique connections to take place and it will be interesting to see which industries will be most affected by the evolution of the Internet.
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Hi,
you are absolutely right about web 2.0, its a force to reckon with . And something what VCs around the world are taking notice of with great enthusiasm
even i am a part of a recently launched website eyemany.com. Its basically a professional profile builder with features like Video resume, text resume, Blog, Question and answers and professional networking .Your are kindly invited to check the content, features and functionality of the website.
Your comment and opinion about the new venture will be highly appreciated and eagerly awaited.
Regards
Saumitra Shanker