$41M for Color’s Photo App
Palo Alto, CA, startup Color, founded by Lala.com creator Bill Nguyen, has raised $41 million in venture financing from Sequoia Capital, Bain Capital, and Silicon Valley Bank for a new photo-sharing app for the Apple iPhone and Android phones. The Web has been ablaze with chatter over the startup and the size of the round since TechCrunch broke the news Thursday night; a Forbes commentator praises the app for its “awesome possibilities” while Business Insider calls it “a strange experience, not worth $41 million.” There’s already a parody slide deck and a roaring debate at Hacker News over whether the funding, which automatically shares photos between smartphones based on proximity, is the definitive sign that a perceived bubble in Silicon Valley tech financings is about to burst.
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