November 01, 2003

Wild VC Spending

Near the end of the NY Times story on Microsoft possibly buying Google, there's this:

Partly in response, Google continues to explore new businesses to extend its reach into new markets and to find new sources of revenue. One such effort included approaching Friendster, a Silicon Valley social networking company that has recently grown rapidly, according to an executive briefed on the talks. Friendster has instead received a $13 million investment from a group of venture capitalists led by Kleiner Perkins and Benchmark Capital, an action that was first disclosed in The Wall Street Journal.

"Microsoft and Google: Partners or Rivals?" [via Drudge]