Profitable Startup Bazaarvoice Takes $8.8M More
0 comments / Posted on 09. Sep, 2007 by Austin Startup in Uncategorized
It is being reported that Bazaarvoice has closed on $8.8M in funding, although the company website has no news of the event. Perhaps it’s just a case of TechCrunch jumping the gun a bit on some Monday morning news. Back in May we reported on the company’s announcement that they turned the corner on profitability. So why take venture money?
Have you ever heard the phrase that a banker is always happy to lend you money when you don’t need it? The same is true for growing technology companies. When you’ve turned the corner and are making money, and you’re hitting your growth and profitability goals, pretty much any VC would love to put money in your deal. Bazaarvoice co-founder and CEO Brett Hurt is a savvy businessman who believes in his market space and the business. You can bet that he’s using these funds to develop new products, and to grow the company faster. A quick look at their growing jobs page can confirm that.
TechCrunch is reporting that Battery Ventures and First Round Capital are new participants in this round, but when I personally met folks from First Round over a year ago they boasted about their involvement with Bazaarvoice. You can bet that anybody with money in this deal that has the right to put more money in will exercise that right to it’s fullest extent.
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Posted by Austin Startup
http://www.austinstartup.com |