Web 2.0 - Thursday, January 10, 2008
Musical Widget Startup Kadoink Raises $7M
Kadoink is a social network platform that combines widgets, SMS, audio and music. Based in San Francisco, Kadoink creates mobile fan clubs for bands and artists and enable those artists to send group texts and music to their mobile fan clubs, as well as creating mobile communications groups for universities and corporations.
The company has closed a $7M round from Sutter Hill Ventures and angels. That's a lot for a widget maker - not a lot of tech talent required for that - but with startups like Slide, Rockyou and iLike seeing their traffic fly off the charts, investors want to join the party. Plus CEO Scott Cahill has a nice resume. He as CEO of Signature Wines, GM for Kinecta which was bought by Stellant and VP Sales for Impulse Buy Network which was bought by Inktomi.
Among the many widget startups that Kadoink competes against are Gydget, which raised seed funding in November - as well as Rockyou and Clearspring. The difference is that Kadoink is more focused on bringing mobile phones to the game.
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