August Capital Bets Big On Blippy

Blippy is always fun to write about because so many people are enraged by its very existence. But all that rage apparently hasn't stopped the company from getting lots of investor attention. In addition to landing a bevy of top tier angels and venture capitalists in their first round of financing , we've now heard that Blippy is preparing to close on a new round. August Capital partner David Hornik is leading the round. And the valuation is "totally absurd" says one source. Another puts it at $50 million, although that may be a little on the high side. Regardless, that's not bad for a site which only launched publicly two months ago. Blippy wouldn't comment on this story. I reached David Hornik (he seemed to regret having answered the phone). All that he'd say is that he loves Blippy, but he would neither confirm nor deny an investment.