

Milk Completes $1.5 Million Angel Round, Packed With Valley Names - Jsarokin
http://techcrunch.com/2011/04/26/milk-completes-1-5-million-angel-round-packed-with-valley-names/

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larrykubin
Somewhat off topic, but every year or so I check the domain milk.com to see if
the owner ever sold it. Just checked again. He's been sitting on it for 17
years now with the following message:

<http://milk.com/value/>

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vidiviciveni
"Bornstein", how am I not surprised? This guy will get nothing because of his
greed.

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endtime
Uh, is your comment intended to be as anti-Semitic as it sounds? Or am I
totally missing some alternate interpretation?

Preserved in case of editing (so I don't end up looking like an idiot for
asking): "'Bornstein', how am I not surprised? This guy will get nothing
because of his greed."

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angryasian
I imagine their first product will be a photo sharing application, that does
group messaging, offering deals. Then they'll go on to raise 1 trillion
dollars. You heard it here first folks.

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SriniK
It is investors who are investing their portfolio money and time. If you want
to, please go-ahead and write apps, raise money and become successful.

Let's congratulate the folks who raised the money to build something.

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marcamillion
Yeh so I am going to go out on a limb and say that this is very risky - I
guess the mitigation for the risk is the small amount per angel, but
considering that they only raised $1.5M an have 6 people on payroll....that
just seems excessive.

Should be interesting to see what Kevin comes up with and if he can re-invent
another industry.

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baddox
I didn't realize that Ashton Kutcher is an angel investor.

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answerly
He's actually quite an active angel. In fact, he has invested in at least 2 YC
companies that I can think of off the top of my head.

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stevenj
Off-topic:

Does anyone here work in one of these "development labs" who's able/willing to
talk about it?

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phlux
You could call YC PG's personal development lab ;)

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ditojim
if i had a killer idea and a ton of money, i'd fund it myself.

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pbreit
It's better to have buy-in even if you don't need the cash.

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bengl3rt
I'd love to work for them. Unfortunately it looks like they haven't gotten
around to putting up a "Jobs" page on their website yet.

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rohanjon
If you really want to work there, that shouldn't stop you.

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rokhayakebe
I am very excited to see what comes out of this shop. In fact I would like to
see more entrepreneurs who cashed out the first time, start their own min-
idealab.

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phlux
Well, this will be interesting to see what happens.

They have min. 1.5 MM in funding - assuming they are all taking between 75 and
150K salaries, that should be ~24 months of runway -- shrink the salaries back
a bit, and expect equipment / development costs and I'd expect thats
realistically 12 to 18 months of funding.

So far, skull ninjas have produced (3?) projects, two of which seem to be
about sharing (locations, and ranked lists)...

So we have 3 co-founders on the list, one of which appears to be biz-dev
focused, a couple devs and some idea guys.

What I want to know though, is what they showed the investors to push them off
the cliff to the tune of 1.5MM - divided among 22 people is an average
investment of 68K per person, lets assume that the range is 25K++ as a base.

That is both a lot of faith in Milk, and a wide spread on the total amount...

I certainly hope they come up with something killer, but I just get the
feeling that Kevin put a lot of work into getting investment into his own
little idea incubator solely based on cult-of-personality and not based on
the-next-big-idea, that is awesome, and I know that every geek in the valley
would wish to do the same - but lets see what they actually produce.

(p.s. Kevin, if you were the Kevin in the wompt chat thread - you should reach
to to that kid from MIT)

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joshu
Random small companies are able to raise 1mm right now with little difficulty.
A .5m delta to here isn't that big.

