Web 2.0 Bubble Officially Forms
Today may go down in history as the day the second Internet boom jumped the shark. Cellfire is a company that delivers coupons to your mobile phone. That’s not so remarkable. What is remarkable, however, is that they just got 10 million clams in funding:
According to CEO Brett Dusing; “We are very pleased that Menlo Ventures led this financing, as they have had a tremendous amount of success investing in market-leading technology companies. Our investors will help Cellfire realize its vision of delivering valuable discounts at every store and restaurant to every consumer in the country.â€Â
Translation: “we might be the next Pets.com, but for now it’s strippers and Cohibas for everybody.”
I speak in jest, of course. I’m the last person you should be taking investment advice from. Heck, I didn’t really think Flickr was a big deal back in 2004.
