The launch of a new mobile app called Color on Wednesday has caused a lot of buzz � not so much because of the app itself, but because of the massive sum of money the company raised before it even launched: a group of funds including Sequoia Capital gave the company $41 million, and Sequoias chunk (as Color proudly noted) is more than the fund invested in Google.
Source:
http://gigaom.com/2011/03/24/is-colors-team-really-worth-41m-idea-be-damned/
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