16 Comments

Summary:

Slide has taken $50 million from Fidelity and T-Rowe Price, according to Brad Stone at the New York Times, exchanging a 9-percent stake of the company at a valuation of $500 million. Kara Swisher of BoomTown had first reported inklings of the news this morning. Slide […]

Slide has taken $50 million from Fidelity and T-Rowe Price, according to Brad Stone at the New York Times, exchanging a 9-percent stake of the company at a valuation of $500 million. Kara Swisher of BoomTown had first reported inklings of the news this morning.

Slide makes applications that live within social networks like Facebook — such as FunWall, Top Friends and SuperPoke — which are parasitic of other people’s users but also have interesting implications for interactions that are independent of those platforms.

Though I’d say people are right to be skeptical of the widget space, it’s both extremely popular and hotly contested. The expectations may be getting too high, though; Slide CEO Max Levchin has said he will not consider Slide a success until it is worth more than what he sold PayPal for: $1.58 billion.

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By Liz Gannes

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  1. Slide is a cool app, but it is nowhere near as valuable and/or practical as Paypal. Slide is rudimentary entertainment during a period of overvaluation of social networks. ALL entertainment products that are successful go through a period of rapid market adoption, then rapid decline.

    This is an insane investment by Fidelity and T-Rowe Price – note that I am referring to the valuation, not the opportunity.

    Great idea, great product, HUGE over valuation.

  2. Slide Funded for $50 Million at $500 Valuation – Technozzle Friday, January 18, 2008

    [...] Coverage over Mashable, Kara Swisher, GigaOM, Mathew Ingram and ValleyWag. addthis_url = ‘http%3A%2F%2Ftechnozzle.com%2F%3Fp%3D51′; [...]

  3. $500 million? I’m surprised it’s valued at $10 million, let alone $500mm. Hey, it’s not my money, I don’t care if they throw it away.

  4. I’ve blocked just about every application they make- I understand how they appeal to people in high school, but eventually the market for annoying tests and facebook pokes will dwindle. People tend to add an application, use it once, and then leave it alone. This is not the type of user that justifies a $500 million valuation.

  5. There’s no doubt that their decision to concentrate on Facebook platform when it first launched, has brought them to this impressive valuation, which is like 7x the prior valuation.

    It’s the facebook effect :)
    I wrote about it here http://technozzle.com/?p=51

  6. Well, Its a lucrative venture but for accurate statistics a website has been setup called http://www.trialipo.com, you can go there to make accurate valuations, its like a stock exchange for private companies.

  7. One More Idea » Google – World’s biggest widget company Friday, January 18, 2008

    [...] not sure myself but I think that’s what is going in the minds of Slide investors. Obviously people are shocked at the valuation. Adam cites $1.40 for each installed application user. Which provides one way to [...]

  8. Links for 1.18.08: Notflixing, GH3’s boost, Big Superpoking bucks… « the listenerd Friday, January 18, 2008

    [...] *SuperPoking: more value than I ever dreamed. Facebook widget-making startup Slide has been valued at $500M. SEEMS LIKE A LOT. [giga om] [...]

  9. Slide Raises 50 Millions, valuated at 500 Millions–Widgets Lab Tuesday, January 22, 2008

    [...] GigaOM Technorati Tags: Slide,widget company,widget developers,widget brand Sphere: Related [...]

  10. Flixster-IAC: Deal or No Deal? – GigaOM Friday, January 25, 2008

    [...] We recently saw East Coast mutual funds pump $50 million or so into San Francisco-based Slide at a massive half-a-billion dollar valuation (say [...]

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