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Atypical financing

Kaboodle CEO and founder Manish Chandra took $3.5 million in funding from 10 strategic angel investors. It's a large sum for an angel round, hence the large number of angels. In our interview, I asked Chandra why he chose this route over the VC route, and whether he received a valuation in this round.  He did. Post-money valuation = $9.5 million. I also asked him why a Web 2.0 startup needed so much cash to operate a business. After all, don't Web 2.0 companies outsource all the content creation? Chandra has some interesting ideas he needs to build out. For instance, he's working on integrating product feeds from comparison-shopping engines and comparison-shopping travel sites. No partnerships to announce just yet. The goal? To get consumers to create pages of shopping or travel lists and to match these consumers up with the vendors.

Watch interview with Chandra


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