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Digital Home - Tuesday, January 10, 2006

Riya Raises $15M From Bay Partners

Ubiquitously-discussed photo/facial recognition startup Riya has raised $15M from Bay Partners. If the rumors are true that Riya dismissed a buyout offer from Google, it will be very interesting to see if the gambit pays-off. Given the rise in stock at Google, Yahoo and elsewhere, most startups are willing to take the buyout offer when it comes in the mail. If Riya can parlay this $15M into a multi-hundred million dollar buyout within a year, others might consider Riya's route.

On its blog, Riya thanks its lawyers and notes:

"BTW we need to hire some absolute rockstars in Business Development, Finance (a Controller to mind the money), a Revenue Manager (CPC Advertising expert - if you have to ask what CPC is don't apply...;-), and a few additional researchers for our super smart Riya Labs which is now (unconfirmed) the largest team of computer vision Ph.Ds in any single company in the country."

Read - Going to The Moon Riya Blog