Linden Lab announced an $11million capital raise led by Globespan Capital with participation from Amazon CEO Jeff Bezos and current investors. Really exciting to see Second Life get this vote of confidence – I didn’t know about it in advance but expect my “update to shareholders” letter to arrive shortly.
Linden has now raised enough money ($8m in Fall 2004, earlier single digit millions from angels) that a small buyout would be disappointing. Consistent with Philip Rosedale’s vision, he isn’t in this to build some cool stuff and flip to a game co or community portal. This always gave me a bit of concern given that I was just getting started in my career and would have been happy with a smaller but successful liquidity event.
Congrats to Philip, Cory and the rest of the team!