Valleywag
Jason Calacanis is seeking to raise an additional $20 million in funding for his startup Mahalo. Investors are being asked to value the human-powered search company at $175 million. This, less than six months after raising an initial $20 million at a valuation of around $100 million, which was to last the startup for five years. At the time, that valuation seemed based more on Calacanis's Brooklyn bluster than anything else. But this additional fundraising is even more of a headscratcher.
Is Mahalo really worth 75 percent more than it was in June? Calacanis thinks so. But why does Mahalo even need more funding? Is Mahalo burning cash? Is Veronica Belmont asking for a Mahalo Daily wardrobe allowance? (If so, you go, girl!) Did the bulldogs eat Calacanis's previous round of funding? Either Calacanis has acquisitions on his mind, or the funtrepreneur just wants an ever-larger paper valuation he can Twitter about. You decide.
Comments
Can someone shoot him and dump his body in the Hudson already?
Diet Caffeine Free Coke. That says a lot about him as a man.
This business will fail because it's just a glorified Adsense trap. Also - such lofty valuations confound this team. They're never seen such numbers before. Do you want to be the VC that tests Jason's ability to build something worth more than $30M? Not me...
Add them to the deadpool.
Please, god, show us more self-aggrandizing fatty Marc Cantor and less Calacanis. Please please please. We may hate Cantor, too, but at least he *made* something significant.
i nominate this picture for douche of the year
yes, it is worth 75% more than it was, that is to say it has risen from $10 to $17.50
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