Thursday, April 29, 2010

Bonanzle Raises $1M from Angel Investors - Watch out eCom world !

The latest news on Bonanzle is causing quite a stir across the web.
From Gergory Huang of  Xconomy Seattle:

"The motto of Bonanzle is “everything but the ordinary.” That about sums up the latest news from this Seattle-area startup, which has built a fast-growing online marketplace for niche items and collectibles. I learned through the grapevine that Bonanzle founder Bill Harding has closed a $1 million funding round led by angel investor and venture capitalist Geoff Entress, with participation from a long list of well-known angels around town—plus three prominent venture firms.

It’s a small deal, a classic angel investment, but it’s particularly interesting for this reason: Seattle-area venture firms Voyager Capital (led by Entress) and Ignition Partners (Michelle Goldberg), plus Bay Area firm Matrix Partners (Josh Hannah), have all invested in the deal. All together, the venture firms put in less than half of the total funding amount—but presumably they will be watching to see if this is something they want to put more money behind."
Bonanzle Raises $1M from Angel Investors, Plus Three VC Firms, to Expand Its Online Marketplace
Is this good news? bad news?  Honestly it could be either or both.  But after being on Bonanzle since its Beta days, I trust Bill and his judgement.  Yes, there have been times I questioned his ideas ( anyone remember 'Bizzy' ??) , but all in all I know Bill has a vision for Bonanzle and his passion for this will keep him on the right path.
I am strapping in, holding on and getting ready for the ride.  How about you?  What do you think about the extra fuel this little train has recieved?
My comments posted on article:
Thank you Mr. Huang for an excellent article on this new and exciting development for Bonanzle.

With the growth of Bonanzle, it is not surprizing that it attracted the investors, they know Bonanzle is a solid investment.
Bill Harding and his small team have build something unique and fresh. And with the growth of Bonanzle it is not surprizing that Harding would seek out investors to help him continue along the path he set his dream on.

Bonanzle is unique. This is what makes it such an attractive place for many in the eCommerce world and what has fueled its growth
One can only hope these investors completely grasp this and think out of the box when developing ideas to further Bonanzle’s footing in the world of online sales.
Or better yet, I recommend they follow Bills lead and throw that box of ideas out.

(Link to article Posted using ShareThis )


Moldavite Plus said...

Bonanzle Rocks! I've been selling there for a little less than a year now and I absolutely love it! Selling on Bonanzle is such a refreshing change from Ebay that I've long since left. I'll be selling on Bonanzle for a long time to come.

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