Posted by: Olga Kharif on February 3, 2009
My colleague Rachael King has just launched a new blog, Technology at Work, where she explores how companies can use innovative software and to cut costs to survive and prosper. Today, she wrote about a company called iWidgets that just raised $4.1 million — at a time when raising funds is extremely tough. The start-up helps companies take their content and syndicate it on social networking sites such as Facebook and MySpace. CBS, for example, is using iWidgets to syndicate video clips of CSI and other shows on Facebook.
It’s nice to hear a story of success at this time of doom and gloom. M&A and IPO expert Tom Taulli whom I talked to today doesn’t expect capital market conditions to improve for six months to a year. All eyes are on online restaurant reservation service OpenTable, which just filed for an IPO. If that IPO goes through and goes well, perhaps that means that iWidgets is not the exception able to secure funding it seems today, but one of the first signs that investors and venture capitalists are starting to relax their grip on their purse strings.