One big detail about former MySpace COO Amit Kapur's new startup has emerged: the company has just raised $10 million in its first round of funding. Redpoint Ventures and August Capital jointly led the round, and the investment has come before Kapur and fellow MySpace execs Steve Pearman and Jim Benedetto have settled on a final name, according to TechCrunch.
Kapur, Pearman (MySpace's former SVP of product strategy), and Benedetto (former SVP of engineering) left the social net in early March, sparking speculation about whether they were the start of a mass exodus—or a massive reorg—which of course, wound up happening less than two months later.
Photo Credit: borman818
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