March 23, 2010
Yesterday Formspring announced its $2.5m Series A. Led by Baseline Ventures and FreeStyle Capital, the round included a who’s who of other angel investors including Ron Conway’s SV Angels, Maples Investments, Chris Sacca’s Lowercase Capital, Kevin Rose, Travis Kalanick, Dave Morin and Scott Dorsey.
Though a departure from the typical VC model (we were a relatively small “follower” in the round, taking a very small ownership position in the company and not taking a board seat), we are thrilled to be involved with Formspring.
Formspring is a “social Q & A site” that makes it very simple for people to invite their friends/followers to ask them questions. Just as the “check-in” is becoming a particular form of social network activity, so too is the “social q &a.” As sometimes happens in the consumer web, formspring seems to be simply addressing a strong consumer impulse.
Since launching last Thanksgiving, Formspring has had a meteoric rise to 50M monthly uniques and is seeing a torrent of activity on Twitter and Facebook. After writing this last sentence, I did a search for “Formspring” on Twitter, and saw 500 results generated in under a minute. Yes, 500!
What is particularly exciting to my partners and me is that Formspring directly addresses a problem we have been thinking about for a couple years now: helping people come up with things to publish or post. This was the original thesis behind our seed investment in Plinky, but after several months founder Jason Shellen pivoted and has since been focused on Brizzly. Enter Formspring.
If you are running out of things to post about, don’t sweat it — sign up for Formspring and let your audience do the work by asking you questions. Leave your creative juices on the couch, sit back, and answer!