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Summary:

Jason Calacanis, the former founder of Weblogs Inc (and former CEO of Slicon Alley Reporter, where I worked back in the days), has launched…

Jason Calacanis, the former founder of Weblogs Inc (and former CEO of Slicon Alley Reporter, where I worked back in the days), has launched his new company and site: Mahalo.com. It is a “human-powered search engine”, a bit like a new Web 2.0ish version of About.com. People sort through and organize the information in various sections and categories … the company has taken top 10,000 search terms. The company has 40 full-time employees … we raised two rounds of funding: CBS, Burda Media, Sequoia, News Corp, Mark Cuban, and others. (That last group includes Ted Leonsis and Jonathan Miller.)

Staci adds: We’ve been told the funding totals $16 million on a $100 million pre-valuation. One more note: that News Corp. funding is a Jeremy Phillips investment from corporate a la Roo , not Fox Interactive Media.

All the pics from D on the Flickr stream here.

  1. Just had a look at Mahalo's results for the term 'loan' and compared them to Google's results. I've written up my little experiment on http://www.moseskagan.com. Suffice it to say that I'm sticking with Google for the time-being.

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  2. Our company was funded by a "hedge fund" that has not been able to come up with the the "last money required" of $1,700,000 and will lose their "equity" position commensurately. Their $1.7 mm investment would have yielded $25,000,000 during years 2-4 and over $100,000,000 years 4-24.

    Our project is based on a joint venture of 3 old technologies never assembled before. The Government of the Netherlands originally started with one of the technologies and produced a most remarkable end product after spending millions to build and operate a facility for 3 years that was "economically" unviable.

    The addition of the other two older technologies over the past 4 years have ensured that after the $1.7 mm equity investment the returns will be nothing less then the numbers above.

    Now that the "hedge fund" is trying to renegotiate their position I thought I would take the time available to see if their is another interested investor available.

    With the uniqueness of of our project, having an almost 0 "risk" factor and no need for "public banking" or any future raises of capital, I am hoping my time is well spent going back to looking for $1,700,000.

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