Despite our and others criticism of Gather for its poor design and specious business model back in 2006, the company seems to be holding strong. Gerace tells us that they’ve got four potential white-label clients in the pipeline but won’t reveal which ones or what the new umbrella company will be called. Geracewill also be using the latest financing to expand the company from 26 employees to “about 60 or 70 folks.”
Investors in the Series E round included Lotus founder Jim Manzi, VC group Allen & Co and new entrants Progress Ventures and Nick McShane.
7 7
Authors: Alexia Tsotsis