Posts Tagged ‘Mobile’

12,000 new mobile start-up companies funded in 2008 (not!)

Monday, March 9th, 2009

GM lost $30.9 billion in 2008. The total of all American Venture Capital (VC) investment in 2008 was only $28.3 billion in 3,808 deals (PricewaterhouseCoopers).

On average GM burned through $88 million each day of last year. That means that 44 start-up companies could have been funded with $2 million each day. This daily number is around the total number of start-ups funded each year by the entire Boston VC community (496 deals last year).

It also means that instead of funding the smashing, ground-breaking Buick Lucerne and his brothers and sisters, over 10,000 innovative small start-up companies could have been born in 2008.

Lucerne