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Web 2.0 - Wednesday, August 8, 2007

Adobe Funds Scrybe Calendar Maker

Boston-based Scrybe has raised an undisclosed amount of Series A funding from Adobe Systems and LMKR. The company which sports the ubiquitous Web 2.0 mirrored logo, is itself a ubiquitous Web 2.0 organizer calendar system. Founded in May 2004, Scrybe was founded by Shehryar Hydri and Faizan Buzdar.

Per the video, Scrybe has built a very nice calendar and list system that allows for both online and offline use.

We just heard this week from VCs we are decrying a frothy Series A market and this seems like a prime example. Hydri and Buzdar have built a lovely tool and they deserve to have buyers beating down there door. But why is this a good investment? How can we expect something like a bidding war for online calendars when there are so many of them and so few potential buyers? Per the investment, perhaps Adobe may end up buying Scrybe but to get a healthy valuation it requires other parties and fewer competitors.

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