Stealth Startup Du JourJustin Hibbard
In the past week, I've run into three people who have mentioned Project Y, a startup that just raised a round of VC from Accel Partners and WaldenVC. In journalism, three's a trend, so I dutifully dish. Project Y was founded by Samir Arora, who started NetObjects, maker of web-development software, in 1995. That company went public in 1999 and saw its stock soar to $43 before dropping to pennies in 2001. Arora also chaired matchmaking site Tickle Inc., which was bought by Monster.com last year for about $92 million in cash and stock. No wonder his latest venture has a Monster.com angle. Project Y is in "stealth mode," meaning its plans are under wraps. But I've heard bits and pieces: A) it's a consumer Web site aimed at women, B) it uses a system similar to Monster.com to draw in users and learn about their shopping tastes, C) it could be integrated with other media like TV. Sorry to be vague, but that's stealth mode.