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The Pitch: “Group gifts are popular for occasions such as weddings and office parties, but organizing them can be a hassle. Our application allows shoppers to easily split the cost of gifts with friends, family, and co-workers. On our site, users can select gifts to buy from retailers such as Target and Macy’s and invite others to contribute. We collect the money from each participant and send it to the retailer once we receive the total amount. We have also begun to partner with retailers to integrate eDivvy into their sites. By having our application on their checkout page, retailers receive traffic from each person chipping in instead of only the organizer, which increases their customer base. Soon, retailers will be able to advertise on our site, and we’re working on integrating our group gift invitations with Facebook and mobile applications.” PRESIDENT: Eden Clark LOCATION: Irvine, California EMPLOYEES: 11 LAUNCHED: Spring 2009 2009 REVENUE: $52,000 2010 PROJECTED REVENUE: $1.1 million 2010 PROJECTED NUMBER OF GROUP GIFT PURCHASES: 35,000 AVERAGE GROUP SIZE: Eight FEE FOR SHOPPERS: Four percent of every group purchase, plus 49 cents per credit card transaction FEE FOR RETAILERS: Five percent to 15 percent of each group purchase FUNDING SOUGHT: $1.5 million The Investors Weigh In Partner Up I like this company’s product — it’s something that I would use. But this is a crowded space, and there aren’t high barriers to entry. Even large retailers like Best Buy are putting their own spin on the concept. eDivvy needs to focus on building creative partnerships. I think Evite would be a natural fit, because it attracts people organizing group events. The company should also look at retailers that fit well with the theme of group purchases. A site like Diapers.com, for example, would attract people who hold baby showers. Hans RoderichGeneral partner and chief operating officerAzure Capital PartnersSan Francisco Diversify Revenue Organizing group gifts is one of those things in life that are begging for something to make them more efficient. This business could be an elegant solution. I am not sure how realistic the revenue streams eDivvy has identified are, however. It will be important to evaluate whether customers are prepared to pay the level of fees eDivvy is charging. I think that if eDivvy can create other revenue streams through sponsorships and joint ventures with retailers, then that will make the company more attractive to investors. Loretta McCarthyManaging directorGolden SeedsNew York City Is There Enough Demand? The idea of group buying is a good one, and it has proven to be reasonably successful, most notably with Groupon, which offers group discounts. But eDivvy addresses groups of related people buying a single gift for occasions such as weddings and baptisms. Those events happen relatively infrequently in people’s lives, whereas someone is more likely to seek group discounts for personal purchases. I doubt this is a big enough market opportunity for venture capitalists, although it might be one for an angel or seed-stage investor. Mark SusterPartnerGRP PartnersLos Angeles

Protocols, protocols, everywhere, and not a drop to drink. OAuth, OpenID, UX, Shibboleth, SAML, XRI, FOAF, Facebook Connect, that is a small sampling of some of the technologies that have been invented to move Internet Identity forward forward for the web. Today, at the Open ID User Experience Summit , a jaw-dropping statistic was given that 89% of users coming to LadyGaga.com chose a third-party logon rather than create a new account. “Signup with Facebook, Twitter, or MySpace” is the default option on LadyGaga.com – and it works. Sponsor Do You Have the Credentials: Want to be on the Guestlist? We wondered why is this site getting such high level of adoption of third-party logons, which hasn’t been seen at this level anywhere else. It seems that in addition to the momentum of the OpenID community, part of the story is about the landscape change occurring around video content. One great example is in the changes at YouTube including the Vevo ad wall. More than ever, tracking of the users that access protected content is becoming the norm. Even innocent phenomena like Rickrolling have been at risk as copyright holders are removing more and more content from YouTube. Have you seen one of these notices on YouTube before? It’s an example of a piece of content that has been pulled. Vevo now serves up the same thing, and the content owner is provided with marketing tools to place around the content -ads, placement, positioning. Google likes to get paid. It’s easy to see that while searching for Lady Gaga on the current version of Youtube. In contrast to the list of free videos that once once stood, sites like LadyGaga.com are offered as one of the top links right next to the Vevo-supported link. Somewhere, in an office in Mountain View, there is a voice whispering ” Show me the money “. Third Party Logon: Facebook and Twitter Connect our Personas Ironically, when clicking on the link from YouTube and arriving at LadyGaga.com, the most prominent third-party logon solutions displayed are Facebook, Twitter and MySpace. Universal Music uses the RPX services based solution by JanRain , a Portland, Oregon company to power this capability for the site. Yesterday, at the OpenIDUX community meeting in Chicago, Brian Ellin of JanRain presented a set of slides on best practices in the OpenID world for User Experience and third-party logon. This talk included best practices and notes from JanRain, the company he works for, supported population of 173,000 web sites that use it for a third party logon. The company offers credentialing from over 10 key identity providers including Twitter, Facebook, Google, Microsoft, and soon LinkedIn. Identity as a Service For the user, there is little reason to know the technology that is behind the scenes. All we need is to be able to easily choose the provider we want – and that it all works. In fact, when it’s done right, it’s is less clicks and time. And of course, one less password to remember. That being said, on the LadyGaga.com site at least three protocols are supported from the home page alone: OAuth for Twitter, Facebook Connect, and OpenID with MySpace. Getting the experience right first, has allowed these companies to support the work of integrated logon experience while the industry continues to innovate on the different core protocols for sharing identity across websites. We spoke Lisa Hannah, Director of Marketing at JanRain. She shared information on their analysis of the social media trends of third party logon users. They represent a balance in building industry relationships, while at the same time finding consumer solutions that work well enough to drive adoption. The Nice Thing About Change is That it Requires a Lot of Hard Work The OpenID community iterating the solution to get it right. The organizations and leaders in the community, including individuals like Brian Kissel, Allen Tom, Monica Keller, Mike Jones, Joseph Smarr, Eric Sachs, David Recorden and Chris Messina have continued to build momentum in the community and find common ground – even beyond where the companies they represent (Google, Microsoft, Facebook) are deciding on the balance of power of this generation of the Internet. Third-party logon is becoming standard practice. And like many things, it becomes easier to use with time. For this user, it’s starting to feel familiar, like an old friend. We’d Like to Ask Lady Gaga to Solve Health Care It had to happen somewhere, and LadyGaga.com is the site that shows us a glimpse of a new world of the Internet. Behavior change is all about the incentive – and bling. Perhaps this type of evidence will motivate the federal government in the direction of third-party logon. In the case of identity on the Internet, it is clear that there is benefit when open, mixed, and hybrid solutions are supported for the good of the user. As always, the experience is what matters. We’ll continue looking at Lady Gaga and third-party logon in an upcoming piece where we go through the details from a user experience and technical view. Do you support the movement towards users signing in using third-party logons? What do you think about Twitter’s OAuth, Facebook Connect and OpenID? Discuss

Just because you’ve been in talks doesn’t mean the deal is done. Entrepreneurs need to remain diligent about timelines in order to ensure that the deals they’ve set in motion actually come to fruition. If you’re negotiating a term sheet, building a partnership or on the verge of an acquisition, get the papers signed. Legendary GRP VC investor Mark Suster has seen his fair share of successful deals, and he writes, “don’t pop the champagne until the ink is dry on the contract and the money is in the bank.” Sponsor Suster wrote a great post on the need to close deals in a timely manner. While it’s important to negotiate well, he’s seen firsthand how deals can go up in smoke if given too much time. Suster raised a round right before a market crash and is convinced that if he’d waited even a month, his offers would have been rescinded. He explains that market crashes, deal fatigue, complacency, or losing your deal sponsor could mean the difference between a banner year and a missed opportunity. Some suggestions to expedite the deal process include: 1. Don’t Over Shop : Although a healthy interest from a number of players is important for leverage, shopping around too much has its downside. Says Suster, “There is a fatigue factor.  If deals drift, people start whisper campaigns.  It is a tight-knit industry.  Like it or not everybody knows each other. ” If you haven’t closed a deal in a timely manner others may assume something negative is holding you back. 2. Don’t Grind Every Detail : Know the important points that you want to negotiate and stick to them. He writes that you shouldn’t get caught up in inconsequential details as they’ll potentially add weeks to the legal process and you’ll risk creating ill will with your newfound partners. 3. Don’t Be Complacent : Suster suggests that you hold all those involved to their deadlines and ensure that lawyers get the documents out when promised. If someone is behind, call them and let them know you are both interested and that you’re willing to fly out and meet them or take calls in the middle of the night to acommodate them. 4. Get People In Person : Put yourself, your negotiating partner, both sides of lawyers and the other party in a room to hash out the details. Suster stresses that it’s important to create goals for what you want to accomplish and take breaks to gain consent from any higher authorities. Discuss

While so much of the startup scene is funded by investment capital, it’s tough to know exactly where all of that money comes from. In chasing the power behind the investment throne it’s easy to believe that everything conspires by the hand of the Illuminati and leave it at that. As of today, Volition Capital’s Larry Cheng spells it out for us in perfect clarity. You may be indirectly pitching for your own money. Sponsor In a blog post entitled, “The Money Behind the Money” , Cheng explains that private equity investments generally come from a select few sources. While he offers a “Funds of Funds” category that invests on behalf of the below groups, because this category is an intermediary and is not a true source of capital, it’s safe to assume that the below three groups constitute the majority of investment capital in the country: 1. Wealthy Families: This funder behind the funders is not surprising. Cheng explains that single family trusts and foundations are the original investors in a number of firms including J.D. Rockefeller’s contributions to Venrock . In other words, your startup money moves from the affluent, to VCs and finally to you. 2. University Endowments : Alumni gifts play a huge roll in the investment landscape. When universities receive an alumni gift designated for endowment, that gift is often reinvested to raise additional funds and then used for school activities. Wikipedia has a fantastic list of U.S. universities ranked by endowment with Harvard, Yale, Stanford, Princeton and MIT at the top. 3. Pension Funds : Those family members that work in government agencies or major corporations and encourage you to pursue a career path with a pension and benefits might actually be enabling your startup dream. Explains Cheng, “A portion of these funds are often allocated to the private equity asset class.  Major states investing in this asset class include New York, New Jersey, California and Oregon.  Major corporations like AT&T and General Motors have also been active investors.” Photo Courtesy of Photos8.com Discuss

This week’s calendar spans three continents, three countries, and who knows how many time zones. Looking for stuff to do in the next seven days? Miami is your best bet, with events on the future of Web apps and on early-stage funding. How do you like your events calendar? As a world map ? As an iCal (and Google Calendar-importable) file? You can also import individual events using the link beside each entry. Know of something cool taking place that should appear here? Let us know in the comments below or contact us . Sponsor 22 – 24 February 2010: Miami, Florida The Future of Web Apps Miami The Future of Web Apps Miami is a three day event for Web application developers and entrepreneurs, and includes tutorials, inspiration and workshops taught by leading figures at the cutting edge of today’s Web. Companies at the event include Twitter, Facebook, Mint.com, Palm, FreshBooks, Reddit and Mozilla. Topics include HTML5, jQuery, online marketing, funding strategies, measuring the success of your Web app, and Facebook Connect. Find more information at http://carsonified.com ReadWriteWeb readers use the code “RWW” and get $50 off. 25 February 2010: Miami, Florida Miami VC and Angel Event At FundingPost ’s next event, a panel of investors who will focus on early-stage venture investing. We will be discussing trends in early-stage investing, sectors that these Angels and VCs look at, things that are most important to them when they are considering an investment and the best and worst things an entrepreneur can do to get their attention. Entrepreneur summaries will be given to the investor speakers and attendees – all of the investors will get your company description and contact info! Additionally, there will be an optional pitching workshop lunch where we will completely deconstruct your elevator pitch, and work with you on formulating a clean and concise elevator pitch giving the important information that investors need to hear to make an educated decision on your company! Then you get to give your new elevator pitch in person to the panel of investors during the event! Click here for more information . 2 March 2010: Wellington, New Zealand IgniteWellington Fast-paced, fun, thought-provoking, social, local, global — Ignite is all of these and more. It’s a high-energy evening of five-minute talks by people who have an idea and the guts to get onstage and share it with their hometown crowd. Run by local volunteers, Ignite is a force for raising the collective IQ and building connections in each city. And, via streaming and archived videos of local talks, local Ignites share all that knowledge and passion with the world. Join us on Tuesday, March 2 starting at 6 p.m. at Paramount Theatre. Entry is free. Register online now at www.ignitewellington.co.nz . For more information contact ignite@ignitewellington.co.nz . 4 March 2010: Silicon Valley Silicon Valley VC and Angel Conference At FundingPost ’s next event, a panel of investors who will focus on early-stage venture investing. We will be discussing trends in early-stage investing, sectors that these Angels and VCs look at, things that are most important to them when they are considering an investment and the best and worst things an entrepreneur can do to get their attention. Entrepreneur summaries will be given to the investor speakers and attendees – all of the investors will get your company description and contact info! Additionally, there will be an optional pitching workshop lunch where we will completely deconstruct your elevator pitch, and work with you on formulating a clean and concise elevator pitch giving the important information that investors need to hear to make an educated decision on your company! Then you get to give your new elevator pitch in person to the panel of investors during the event! Click here for more information . 11 March 2010: Los Angeles, California Los Angeles VC and Angel Event At FundingPost ’s next event, a panel of investors who will focus on early-stage venture investing. We will be discussing trends in early-stage investing, sectors that these Angels and VCs look at, things that are most important to them when they are considering an investment and the best and worst things an entrepreneur can do to get their attention. Entrepreneur summaries will be given to the investor speakers and attendees – all of the investors will get your company description and contact info! Additionally, there will be an optional pitching workshop lunch where we will completely deconstruct your elevator pitch, and work with you on formulating a clean and concise elevator pitch giving the important information that investors need to hear to make an educated decision on your company! Then you get to give your new elevator pitch in person to the panel of investors during the event! Click here for more information . 15 – 16 March 2010: London, England 2nd Annual Social Networking World Forum — London The 2nd Annual Social Networking World Forum takes place at the Olympia Conference Centre in London. The two-day event features four dedicated conference streams: Social Networking World Forum Enterprise social media Social TV World Forum Mobile Social Networking Forum The event features key speakers from global brands, organizations, social networking publishers and developers, pioneering social media leaders, top agencies, content producers, and more. Full workshop program within exhibition area Evening networking reception Pre-show online meeting planner for delegates Free pass for exhibition only 26 March 2010: San Francisco, California Freemium Summit The first Freemium Summit is a one day event focused on exploring what it takes to succeed under the freemium business model. Across all segments of the media landscape, entrepreneurs and executives are pioneering models that combine a free offering with a premium, paid offering. This hybrid business model is one of the most exciting areas of business model innovation impacting the world of media and the Freemium Summit will explore the most important topics on the minds of leading practitioners. Confirmed Speakers: Toni Schneider, Automattic (WordPress); Matt Brezina, Xobni; Aaron Levie, Box.net; Phil Libin, Evernote; Tom Conrad, Pandora; Drew Houston, Dropbox; Ranjith Kumaran, YouSendIt; Ben Chestnut, Mailchimp; Lance Walley, Chargify; Isaac Hall, Recurly; and Lincoln Murphy, Sixteen Ventures. 7 – 9 April 2010: Sydney, Australia ConnectNow ConnectNow brings together international specialists and thought leaders in social media, emerging technologies and their intersection with business. Learn how the realtime web, location based services, augmented reality, ubiquitous computing and personalised services are changing marketing and communications. Understand the importance of trust in relationship marketing and what is “social currency”. For more info email info@connectnow.net.au . 13 – 15 April 2010: Dallas, Texas PubCon South PubCon , the premier search and social media conference, features the industry’s biggest names and key players shaping the future of the Web. PubCon South will include cutting-edge panel sessions exploring tracks dedicated to search, social media and affiliate marketing, an intensive professional search and social media training program, and some of the world’s top keynote speakers. PubCon South at Dallas will also hold a one-day, two-track slate of intensive educational training programs led by some of the industry’s most respected search professionals. The event takes place at the Richardson Conference and Civic Center. Register here . 16 April 2010: Mountain View, California Under the Radar: Cloud Under the Radar: Cloud is must-attend event for dealmakers and heads of IT from large enterprises, SMBs, service providers, carriers and media companies who are responsible for helping their companies leverage new technology and innovation in the fast-evolving IT ecosystem. Join us for the 15th Under the Radar conference, featuring a hand-picked selection of the world’s most innovative cloud startups among 350 top tech, media, telcom and finance executives. For ticket and more information, visit http://undertheradarblog.com . 16 – 17 April 2010: Royal Oak, Michigan FutureMidwest FutureMidwest is the region’s largest technology and knowledge conference. Founded by Adrian Pittman, Jordan Wolfe and Zach Lipson, FutureMidwest is the fusion of two successful conferences held in Michigan in 2009 – the Module Midwest Digital Conference and TechNow. Both conferences highlighted how technology and digital tools have dramatically changed the way we do business and the effect this transition has had on companies. FutureMidwest kicks things up a notch with presentations, group breakout sessions, relationship-building opportunities and influencers who are taking action to redefine business in the digital age. Register here . 19 – 21 April 2010: San Francisco, California DrupalCon DrupalCon is the premier conference focused on Drupal, the award-winning open source content management framework that is galvanizing social publishing and web development today. For a registration fee of $195, attendees get three full days of sessions led by the best and brightest Drupal experts. Drupal has been downloaded over 2 million times since its inception, and project growth has doubled annually for several years. Drupal is used to deliver a wide variety of application types including blogs, wikis, community networks, digital media portals, and web content publishing and management. 26 April 2010: San Francisco, California Future of Money and Technology Summit The Future of Money & Technology Summit will bring together the best and brightest thinkers around money, including visionaries, entrepreneurial business people, developers, press, investors, authors, solution/service providers, and organizations who work where cash and commerce collide. We meet to discuss the evolving ecosystem around money in a proactive, conducive to dealmaking environment. Featured speakers include Jolie O’Dell from ReadWriteWeb, as well as representatives from Wells Fargo Bank, Kiva, SharesPost, Jambool, Founders Fund, Outright.com, SoftTech VC, and many more. Use discount code “rww” to get 10% off registration . 11 May 2010: San Francisco, California FinovateSpring FinovateSpring 2010 will again showcase the most cutting-edge financial and banking technology innovations to Silicon Valley and the world. With Finovate’s signature mix of short, fast-paced onstage demos (no slides are allowed) from handpicked companies and intimate networking time with their executives, this conference packs a ton of unique value into a single day. Come see the cutting edge of banking and financial technology and network with hundreds of the leading financial executives, venture capitalists, press, industry analysts, bloggers and fintech entrepreneurs. Early bird registration rates are available. 5 October 2010: New York City FinovateFall FinovateFall will return to Manhattan on Tuesday, October 5 to showcase dozens of the biggest and most innovative new ideas in financial and banking technology from established leaders and hot young companies. The Fall event is the original and largest Finovate and features a single day packed with our special blend of short, fast-paced onstage demos (no slides are allowed) and intimate networking time with top executives from the innovative demoing companies. FinovateFall is a unique chance to see the future of finance and banking before your competition and find the edge you need in today’s market. Early bird registration rates are available. Download this entire events calendar in iCal format. Discuss