Bloomberg Begins Fund to Invest in Start-Ups
Posted: 6/5/2013 | By: Nicole Perlroth | New York Times
SAN FRANCISCO — In the increasingly clubby world of Silicon Valley, some
might say it was almost inevitable that Bloomberg L.P., the parent of
Bloomberg News, would start its own venture capital firm to invest in
start-ups, including some that its technology reporters write about.
On Wednesday, Bloomberg will announce the formation of Bloomberg Beta, a
$75 million venture capital fund, which has already begun using
Bloomberg L.P.’s money to place bets on young start-ups like Codecademy, a Web site that provides online coding tutorials, and Newsle, a Web service that alerts users to news about friends.