Social Media Incubator Betaworks Gets $20 Million From NYT, AOL Ventures, Others
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Betaworks, the NYC-based tech investor and social media incubator that has positioned itself at the center of the ‘real-time web,’ has raised $20 million in a second round of funding led by RRE Ventures and Intel (NSDQ: INTC) Capital.
SEE ALSO: Betaworks, Accelerator Group Buy Majority Stake In Twitterfeed
Other new investors include AOL (NYSE: AOL) Ventures, the New York Times (NYSE: NYT), Softbank Japan and Softbank NY, DFJ Growth, and Lerer Media Ventures, CEO John Borthwick tells us.
The services Betaworks has incubated or invested in are a who’s who of the hottest social media companies around right now: bit.ly, Twitterfeed, Stocktwits, Chartbeat, DailyBooth, Hot Potato, Tumblr, Outside.in—to name a few. Betaworks also owns a stake in Twitter via its sale of Twitter search engine Summize to the company in July 2008.
The company says the investment will be used to “grow Betaworks’ existing platform companies and to add additional pieces through incubation, investment, or acquisition.” It had previously raised $8 million.
Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, betaworks, intel capital, rre ventures
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