I am pleased to announce that my company Radar Networks, has raised a $13M Series B investment round to grow our product, Twine. The investment comes from Velocity Interactive Group, DFJ, and Vulcan. Ross Levinsohn — the man who acquired and ran MySpace for Fox Interactive — will be joining our board. I’m very excited to be working with Ross and to have his help guiding Twine as it grows.
We are planning to use these funds to begin rolling Twine out to broader consumer markets as part of our multi-year plan to build Twine into the leading service for organizing, sharing and discovering information around interests. One of the key themes of Web 3.0 is to be help people make sense of the overwhelming amount of information and change in the online world, and at Twine, we think interests are going to play a key organizing role in that process.
Your interests comprise the portion of your information and relationships that are actually important enough that you want to keep track of them and share them with others. The question that Twine addresses is how to help individuals and groups more efficiently locate, manage and communicate around their interests in the onslaught of online information they have to cope with. The solution to information overload is not to organize all the information in the world (an impossible task), it is to help individuals and groups organize THEIR information (a much more feasible goal).
In March we are going to expand the Twine beta to begin letting more people in. Currently we have around 30,000 people on the wait-list and more coming in steadily. In March we will start letting all of these people in, gradually in waves of a few thousand at a time, and letting them invite their friends in. So to get into Twine you need to sign up on the list on the Twine site, or have a friend who is already in the service invite you in. I look forward to seeing you in Twine!
The last few months of closed beta have been very helpful in getting a lot of useful feedback and testing that has helped us improve the product in many ways. This next wave will be an exciting phase for Twine as we begin to really grow the service with more users. I am sure there will be a lot of great feedback and improvements that result from this.
However, even though we will be letting more people in soon, we are still very much in beta and will be for quite some time to come — There will still be things that aren’t finished, aren’t perfect, or aren’t there yet — so your patience will be appreciated as we continue to work on Twine over the coming year. We are letting people in to help us guide the service in the right direction, and to learn from our users. Today Twine is about 10% of what we have planned for it. First we have to get the basics right — then, in the coming year, we will really start to surface more of the power of the underlying semantic platform. We’re psyched to get all this built — what we have planned is truly exciting!