Hungry Machine/Living Social Devours Another $10.2M - cbl
By citybizlist Staff
WASHINGTON, D.C. -- According to an SEC filing, Hungry Machine Inc, which does business as Livingsocial.com, completed a $10.23 million equity offering.
The latest round brings Living Social financing to more than $50 million. The company raised $5 million in Series A funding in 2008, and $35 million in three more financings earlier this year.
The latest round included previous investors Menlo Park, Calif.-based U.S. Venture Partners, Vienna, Va. and Hunt Valley, Md.-based Grotech Ventures and Steve Case's Washington, D.C.-based Revolution, LLC. Silicon-Valley-based Lightspeed Venture Partners also took part in earlier rounds.
Named in the current filing are company executives Jake Mass (CFO), Tim O'Shaughnessy (CEO and co-founder), Aaron Batalion (CTO and co-founder), Eddie Frederick (president and co-Founder), and Val Aleksenko (CIO and co-founder); and directors and presumable investors Don Rainey (Grotech Ventures), Tige Savage (Revolution LLC), and Ted Maidenberg (U.S. Venture Partners).
Launched in 2008, venture-backed LivingSocial offers a collection of user-review applications across social networks like Facebook and Twitter, which enable readers to organize their favorite books, movies, music, restaurants, games, and beer.
SEC filing: http://secwatch.com/filings/view.jsp?formid=7322059&ref=cbl
Also at citybizlist, see:
Bios of principals taken from Business Week and Living Social site:
CFO and Head of Business Development
Jake oversees our accounting and budgeting functions, as well as strategic partnerships and affiliate programs. Jake has served as a managing director at Revolution LLC, as an investment banker with Credit Suisse First Boston, and as press secretary for Senator Tom Daschle's re-election campaign. Jake received his MBA from Harvard Business School and has a BA in Economics from Stanford University.
CEO and Co-Founder
Tim sets and communicates LivingSocial's core strategy, and oversees our growth as the next great consumer brand. Before LivingSocial, Tim led the consumer products team at Revolution Health and managed product launches at AOL. Tim graduated from Georgetown University with degrees in Marketing and Operations & Information Management.
CTO and Co-Founder
Aaron is responsible for building products that meet the changing demands of our users and partners. Prior to LivingSocial, he was Architect at Revolution Health, and led development for Blockbuster's Online Subscription effort. Aaron holds degrees in Computer Science and Japanese from Lehigh University.
President and Co-Founder
Eddie leads our capital deployment program, namely customer acquisition. Prior to co-founding LivingSocial, he designed and built innovative product prototypes and platform infrastructure at Revolution Health. He is a graduate of the University of Maryland with degrees in Mathematics and Computer Science.
CIO and Co-founder
Val is responsible for maintaining the LivingSocial infrastructure, which is proven to handle millions of visitors a day. With over two decades of experience in building and deploying complex systems, Val previously led a team of developers at France Telecom and helped launch Revolution Health. Val studied Computer Science at the Kharkov Polytechnic Institute in Ukraine.
GP, Grotech Capital Group
With over $1B US under management, Grotech focuses on early stage information technology companies. Don currently serves on the boards of Grotech portfolio companies ARPU, Clarabridge, LivingSocial and Zenoss, as well as the Northern Virginia Chapter of the March of Dimes. In Fall 2008, Don was appointed for a second term as an emerging technology consultant to the Chief Information Officer of the US Department of Defense through the DeVenCi Program. The DeVenCi Program consists of a handful of venture capitalists who research and nominate companies to solve the US Department of Defenses's unmet technology needs. Don is also an Organizing Board member of the prestigious MindShare forum. In this role, he helps CEOs from the Greater Washington Metropolitan region's most promising start-ups build long-term sustainable companies. This invitation-only group provides its annual CEO class with an opportunity to meet peers, Organizing Board members and prominent speakers in an intimate setting to exchange ideas and discuss current issues facing start-up companies.
Don's long history in the tech industry includes serving as president at Attitude Network, one of the first online entertainment networks, which was sold to TheGlobe.com in 1999. He also managed channel distribution and brand marketing in 50 countries for IBM's $2 billion network hardware division and served as COO of DaVinci Systems where he spearheaded the company's acquisition by ON Technology. Don designed and launched Novell's much-emulated global Authorized Dealer Program in the late 80's.
Don earned a B.B.A. from James Madison University and a M.S. in Bioscience Management from George Mason University. He serves on the Executive Advisory Council for the College of Business at James Madison University and he is an adjunct professor at American University where he teaches graduate courses entitled "New Venture Finance" and "Venture Capital and Private Equity".
Ted Maidenberg brings to USVP significant expertise in consumer-facing information technology. At USVP, Ted focuses on information technology investments, with his main areas of interest being digital media, business and consumer software and mobile content and applications. Ted currently serves on the board of directors of LivingSocial, Media6Degrees and Savings.com. Ted was also actively involved with Adify (sold to Cox Enterprises) and Revolution Money (sold to American Express).
Before joining the firm, Ted was a Director at Warner Bros. Digital Distribution, heading up the Asia Pacific region. In that capacity, Ted built out WB's mobile content publishing business in Australia, China, India, Japan, Korea and the Philippines. His work included working with world class brands such as Harry Potter, DC Comics, Tom & Jerry and Looney Tunes.
Ted joined WB from Time Warner where he was a founding member of the Time Warner Investments group (previously AOL Investments). During his time there, the group invested in over 60 early stage companies, committing over $250 million. In this role, Ted led or co-led the sourcing, executing and managing of 12 companies including: Blackboard, Exent, PlanetOut, Shopping.com, and Vindigo.
Before Time Warner, Ted was at Credit Suisse in their media/telecom investment banking group, where he focused on the radio and communication tower sectors.
Ted holds a B.S. in Business Administration from Washington University in St. Louis (honors). He enjoys tennis, mountain biking and the eternal suffering that is known only to Chicago Cubs fans.
Managing Director & EVP
Tige Savage partnered with Steve Case to launch Revolution LLC, where he is Managing Director & Executive Vice President and leads Revolution's deal-making and venture capital efforts. Tige has been named one of the Washington, D.C. area's 100 "Tech Titans" and serves, or has served on, the boards of Revolution portfolio companies Flexcar (Zipcar), Revolution Money, LivingSocial, Clearspring, SparkPeople, Snagfilms, and Qloud (Buzznet).
Previously, Tige was a Corporate Vice President of Time Warner and a senior member of Time Warner Ventures, where his team invested in private companies innovating at the intersections of media and technology. Prior to joining Time Warner Ventures, he was the Executive Vice President and a founder of Riggs Capital Partners, where he invested in companies and funds focused on a variety of technology, media, and communications-oriented growth industries.
Additionally, Tige served as EVP and Chief of Staff to the Chairman of the Board of Riggs Bank, Joe Allbritton, and served on the board of Allbritton Communications Company, advising on its new media strategies.
Posted: Aug 1, 2010