Family-social-network-cum-genealogy-site Geni has gone from $0-$100MM (in valuation) in eight months (I’m sure the “seven weeks” in Mike’s TechCrunch post quoted below is a typo).
Seven week old Geni raised a $10 million second round of financing last week, led by Charles River Ventures (see our coverage of CRV here), with a post-money valuation of $100 million.
This is a 10x increase in valuation for Geni. The company’s first round of financing, led by Founders Fund, was $1.5 million, at a $10 million post-money valuation.
Sacks describes Geni as a “social network for the family.” It provides an easy to use (and easy on the eyes) Flash based family tree. As you add family members, they are optionally emailed to register as well and help fill out the tree.
I’ve used it (only to build a family tree so far, I haven’t spammed my family and in-laws with invitations yet), and it’s very straightforward as family tree builders go. My hat’s off to the Geni team.
Still, it strikes me as weird that we’ve got a $100MM social networking site whose primary population will be dead people.
Source: $100 Million Valuation For Geni