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Why Polaris is Backing Formspring

March 23, 2010

vcmike

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.

And Polaris.

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!

9 Comments

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  1. March 23, 2010

    Hey Mike,

    Saw that you tweeted a “Ask me anything” prompt on Twitter a few hours ago but I don’t see any questions/responses as a result. Wondering if that might be a formspring problem or if just happened that none of your 3,000+ followers had a question? If the later, does that cause you any concern as an investor?

    BTW, love what you guys are doing both as VC’s and creators of the DogPatch facilities. Am looking forward to FormSpring upgrades going forward.

    http://www.formspring.me/UniqueVisitor

  2. April 13, 2010

    Mike, your post caused me to sign up. Hopefully I’ll find it as useful as the 50 million monthly uniques. Des

  3. dofollowland #
    April 16, 2010

    Formspring? why not.

  4. May 17, 2010

    Did anyone at Polaris or anyone who is excited about this site actually read any of the profiles? Are investors just literally throwing money at traffic like they were throwing money at ideas back in the late nineties? This site is WORTHLESS. It will not be around in a year as it provides absolutely nothing of value to anyone. I’d be willing to wager that of the 50 m signups about 85% started an account and then abandoned it.

    You actually think there is a real exchange of ideas going on on this site? I’ll repeat your experiment for the content and publish the first ten questions I find on Formspring. I’ll do five female male names:

    Jake: Hey Baby!
    Jessica: heyyy:)
    George: do u like pickles
    Alice: i said i would keep you company🙂
    Betty: doo u lovvve ana?????…………lol

    I woiuld have done more but it took me forever just to find profiles that had answered a single question.

  5. June 3, 2010

    I absolutely love formspring!
    You know what I love even more?
    Madmediamonkey.com

  6. October 29, 2010

    Thanks for being courageous enough to talk about this very serious problem that most of us have to confront and are afraid to speak upon.
    Your story touched my heart, thank you!

  7. June 11, 2013

    Howdy! I simply want to give a huge thumbs up for the great data you
    will have here on this post. I can be coming back to your blog for extra soon.

Trackbacks & Pingbacks

  1. Polaris is Excited to Back Formspring.me // RyanSpoon.com
  2. Plinky and Formspring and VC Mike | Candor Club

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