Welcome!

April 20, 2012 in News

Welcome to IIT’s new social network for entrepreneurs!

The goal of this network is to provide you a space to network and collaborate with other fellow IIT entrepreneurs and alumni outside of our events.

To get started, sign up using your university email id, and fill out your profile.

For The First Time, The Majority Of Opera Software’s Revenue Came From Mobile Ads

August 22, 2014 in News, TechCrunch

Opera Mediaworks Q214 Opera Software may be best known for the desktop and mobile web browser of the same name, but it’s increasingly becoming a mobile ad company, as shown in a recent blog post about the company’s second quarter earnings report. Opera says that for the first time, its mobile ad division Opera Mediaworks was its largest source of revenue, accounting for 51 percent of the total.… Read More

A Successful Content-Marketing Strategy Goes Far Beyond Page Views

August 22, 2014 in Entrepreneur Magazine, News

With many companies turning to content to help build their brand, some entrepreneurs and CMOs are looking at the wrong metrics. Here is how content-marketing has evolved and what people should be measuring.

Mobile Verification Service Zumigo Closes $6 Million Series B Round Led By Intel Capital

August 22, 2014 in News, TechCrunch

4960398007_db95a1597e_o Mobile device and location verification service Zumigo closed a Series B funding round led by Intel Capital on Friday, reporting it raised $6 million. Zumigo wants to take the password out of the authentication process. Using the location of your phone, Zumigo can identify whether you’ve made a financial transaction based on the proximity of your phone to the source of the exchange. Read More

Tech Elites Aren’t Ruining Burning Man. They Get Their Hands Dirty, Too.

August 22, 2014 in News, TechCrunch

Jose Escalante Don’t believe the hate. While it’s a juicy narrative that rich people spoil everything the common folk hold dear, there are plenty of tech bigwigs at Burning Man that work hard to contribute and embody the event’s ideals of inclusion. And the thing is, what they do has little impact on Burning Man as a whole. Whether they’re secluded in forts of cushy tour buses like… Read More

Racists help crowdfunding campaign to support Michael Brown cop hit $250k target (and counting)

August 22, 2014 in News, Pando Daily

Way to go, racists! As I reported yesterday, a GoFundMe campaign to raise money for Officer Darren Wilson, the cop who shot Ferguson teen Michael Brown, had already passed $145k in donations. Many of the donations were accompanied by racist slurs and attacks on Brown…

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Earlier today, the campaign ended after breezing past its $250k fundraising target. That’s $50k more than the reported total raised by Trayvon Martin killer, George Zimmerman. Shortly afterwards, Shield of Hope, the group behind the campaign set up a new campaign which has so far raised over $17k.

When contacted for comment by Pando, yesterday, GoFundMe sent a short statement, saying they wouldn’t be removing the campaign but were deleting comments which breached their terms of service.

August 22, 2014
Official Statement from GoFundMe

Much like Facebook and Twitter, GoFundMe is an open technology platform that allows for the exchange of ideas and opinions within the bounds of our terms of service.

In response to the high volume of recent inquiries, facts pertaining to the ‘Officer Darren Wilson’ fundraising campaign on GoFundMe are being shared below:

- The campaign remains live at the following URL:
http://www.gofundme.com/SupportOfficerWilson

- The content of the campaign itself is not in violation of GoFundMe’s terms of service. However, some donors’ comments have contained content that is in violation of GoFundMe’s terms and have been removed accordingly.

- The campaign does not appear in GoFundMe’s public search directory because a valid Facebook account has not been associated with it. More information about qualifying for GoFundMe’s public search directory can be found at the following URL: http://support.gofundme.com/entries/22591853-Where-is-my-page-

Due to the high volume of media inquiries, we won’t be able to respond to all of your questions individually. Thank you.

Paul Carr

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Paul Carr is editorial director of Pando. Previously he was founder and editor in chief of NSFWCORP.







Think Like a Company’s Marketing Director

August 22, 2014 in Entrepreneur Magazine, News

To expand your agency's sphere of influence, view things from the perspective of your client.

Wells Fargo Launches Startup Accelerator to Promote Innovation In Financial Industry

August 22, 2014 in News, TechCocktail

Wells Fargo announced this week that it will be accepting applications through October from startups to join the new Wells Fargo Startup Accelerator, a semiannual boot camp for innovators whose technology ideas in payments, deposits, fraud, operations and other fields could shape future customer experiences in financial services.

The fourth-biggest U.S. bank will make a direct equity investment of $50,000 to $500,000 in each selected company.

“For Wells Fargo to work on big ideas and spark innovators inside our organization, we need to expand our access to new ideas at the edges of our industry,” said Steve Ellis, executive vice president and head of Wholesale Services at Wells Fargo.

The Startup Accelerator also will provide business planning expertise to firms as well as workshops and individual coaching to the firms.

“The Startup Accelerator adds a new cylinder to our corporate innovation engine,” said Ellis. He adds that Wells Fargo intends to work closely with these companies to explore whether any of the security, biometrics, and analytics concepts could be applicable to the bank.

For its first accelerator round, Wells Fargo chose the three companies from areas that could help customer service, including a company from Kansas City and San Jose.

  • Zumigo, San Jose, California: A developer of mobile services using a unique combination of location and mobile identity technologies to secure commerce and enable mobile marketing.
  • EyeVerify, Kansas City, Kansas: The creator of EyePrint ID™ that transforms a picture of your eye into a key that protects your digital life.
  • Kasisto, New York: The builder of state-of-the-art artificial intelligence technology that improves the consumer experience on mobile devices through intelligent conversation.

Successful companies may become vendors to the bank.

My Big Break: The time Kirsten Green went to lunch with a friend and got a $5 million check

August 22, 2014 in News, Pando Daily

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Regular readers will know that I’m so inspired by Kirsten Green’s unconventional, self-made journey to become a venture capitalist that I did a lengthy profile of her for our last PandoQuarterly. A few weeks ago at dinner, I asked her to reflect on the one person who she couldn’t have done it without.

She barely hesitated before naming Sandy Colen of Apex Capital.

The story is one of my favorites in our “My Big Break” series so far, because it’s a lesson of why you should always stay in touch with smart people you connect with. So often people starting their careers look around trying to find “A MENTOR!” expecting that person will just burst into our lives fully formed and ready to do anything to help us. But a real mentor is earned. Most great mentorships take years of lunches, dinners, coffees, and conversations. In the case of Green, it took more than a decade. But boy did it pay off.

[Note: The My Big Break series is being sponsored by Braintree's Ignition program, so you'll only see their ads around "My Big Break" pieces. But the series was conceived, commissioned and edited entirely by Pando. Braintree had no input whatsoever in the editorial. For more on our policy towards single sponsor series like this one, see here.]

Here’s the story of a multi-year relationship suddenly leading to a $5 million check in her own words:

“My first investor in Forerunner [was my big break], without a doubt.

I met Sandy in 1997. He was just starting his business, and he had a job posting for an analyst. I interviewed for the analyst job, and I thought he was great, and I think he thought I was great.

I heard through the recruiter he wanted to offer me a job, and I thought ‘Hmmm… it’s two guys with– I don’t know– $20 million bucks starting a hedge fund. I’m 24. I want to go work at Montgomery Securities. There are a lot of people there, and I want to learn from other people.’

So I ended up being a retail analyst, and Sandy used to be a retail analyst before he started his fund. Even though his fund invested in all categories, he still had a particular interest in retail, so that enabled us to further our relationship and talk more.

From there we stayed in touch. Sometimes we’d talk more often than not. Sometimes it’d be a year, and we wouldn’t talk. He’d kind of always check back in with me and say ‘Do you want to work here?’ and every time I had some other idea about what I was doing. We got to a place, maybe after we’d known each other for ten years, where we would have lunch three times a year, and it’d always be a four hour lunch.

Sandy came to one of those lunches one day, and he’d been tracking what I was doing. [This was before Green had started Forerunner and was doing one-off retail investments.] He was pretty into what I was working on, so he made me a pretty ridiculous job offer, or at least wanted to start talking about one. He was looking for succession planning, and we’d always talked about working together. Meanwhile he’d built a $2 billion fund and had been extraordinarily successful. He was like, ‘If it was about the money, you should have come here.’

I said, ‘I’m flattered and it’s so tempting but I am right here about to seize the moment of what I’ve always wanted to do. I want to invest in the next generation of companies; new, early stage retail companies, where there are exciting new ideas.’

By this time, I’d met the team from Birchbox, and I’d met the team from Warby Parker, so I had two tangible examples. He probably saw my energy and enthusiasm, and he said ‘You want to mess around with these small companies?’ He probably tried every which way to talk me out of it. And I said ‘I do. I just want to do it.’

‘Alright, how much money do you need?’ he asked.

And I was like, ‘What?…um…$5 million.’ .

‘Alright,’ he said, ‘if that’s what it’s going to take to get in business with you, we’ll do it.’

And I got in the car, and I called my husband: ‘OH MY GOD!’

He’s been the best partner ever. He’s a super smart guy and a shrewd business person, so after lunch there were reams of work to do to support that, but he said it in a moment in a conversation and he followed through on it.”

What do you think he saw in you?

“I wanted to do nothing other than that. I don’t care what sexy job he put in front of me, this was what I wanted to do. And I hadn’t decided yesterday, I’d been working on it for years. I’d been slugging it out, and I think he had that moment of ‘There’s nothing else this person is going to do. If we’re ever going to work together that’s what we’re gonna have to do.’

And Sandy was probably the only person I knew well enough that I was comfortable enough to ask for that first check then.”

Photography by Amy Harrity for Pando.

Sponsored message: Get $50,000 in transactions free of fees with Ignition, from Braintree.

Sarah Lacy

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Sarah Lacy is the founder and editor-in-chief of PandoDaily. She is an award winning journalist and author of two critically acclaimed books, "Once You're Lucky, Twice You're Good: The Rebirth of Silicon Valley and the Rise of Web 2.0" (Gotham Books, May 2008) and "Brilliant, Crazy, Cocky: How the Top 1% of Entrepreneurs Profit from Global Chaos" (Wiley, February 2011). She has been covering technology news for over 15 years, most recently as a senior editor for TechCrunch.







8 Steps to Launching a Successful Crowdfunding Campaign

August 22, 2014 in Entrepreneur Magazine, News

Meticulous planning and plenty of hard work are the keys to crowdfunding the capital you need to launch.

7 Lessons for Nonprofit Organizations From the Startup World

August 22, 2014 in Entrepreneur Magazine, News

Organizations tackling social problems have taught entrepreneurs the importance of mission. Entrepreneurs know how to get stuff done.