¿Cómo se dice dinero? Livemocha lands $8 million |
Connect with TechFlash on our Facebook page for all the latest technology news headlines and commentary, plus information and access to special events, photos from events, promotions and more.
Today On Techflash
- Micron Tech CEO killed in airplane accident in Idaho
- Microsoft teams with NASA chief to talk about science education
- Renters, buyers (and lookers) continue to flock to Zillow
- Best in-house lawyers sought by PSBJ
- Nearly 100 million in the U.S. now own smartphones
- Expedia partnering with China Southern Airlines
- Microsoft's Youngjohns: Let business dictate move to cloud
- Nearly 100 million in the U.S. now own smartphones
- Tweet signals Microsoft marketing layoffs
- Keiretsu Forum NW invested $24 million in 36 startups in 2011
- Microsoft teams with NASA chief to talk about science education
- Renters, buyers (and lookers) continue to flock to Zillow
- 'Fast Pitch Forum' to debut May 27 with some familiar names
- Amazon sees gold in Babe Ruth or Wayne Gretzky trading cards
- Getty Images has GUESTLIST music for movie trailers, ads
- Keiretsu Forum NW invested $24 million in 36 startups in 2011
- Shop.com, backed by Bill Gates and Amazon.com, finds a buyer
- Amazon.com gets toehold in India with website, package center
Mass High Tech
¿Cómo se dice dinero? Livemocha lands $8 million
Livemocha has brewed up $8 million in new venture financing, money that the Bellevue startup will use to enhance the online language service, add new partners and build out the team. The 18-person startup -- co-founded by former Microsoft employee and TeamOn Systems CEO Shirish Nadkarni --has already attracted quite a following since its launch just over a year ago.
The company claims to be the largest "language learning community" on the planet with more than 4.8 million registered members in 200 countries. Users of the service can choose from more than 30 different languages and 160 hours of lessons. But, more importantly, they can interact online with a native speaker to practice and get useful language tips.
"Our approach is simple: the most natural way to learn a language is by practicing with real native speakers," said Clint Schmidt, vice president of marketing and product at Livemocha. Learning correct pronunciations or words from native speakers is "a simple and natural way to develop real, practical language skills," said Schmidt.
Nadkarni
The company started with free online courses, but expanded with premium versions. One example is Livemocha Active English, an online course developed in conjunction with Pearson Education.
Prior to the introduction of that online program, Schmidt said a course of that caliber required a physical location at a school with a dedicated teacher. The company also faces competition from some of the packaged software vendors such as Rosetta Stone and Topics Entertainment.
"Although word-of-mouth has driven our growth thus far, we plan to take a more aggressive approach towards marketing,"Schmidt said. "In this day and age, we find it puzzling that Rosetta Stone still sells CD-ROMs for hundreds of dollars each."
August Capital led the latest round, with Seattle-based Maveron also participating. Total funding in the company now stands at $14 million. Angel investors who previously backed the company include Sam Jadallah, Greg Stanger, Sunny Gupta and Raghav Kher.
As a result of the new money, August Capital's Howard Hartenbaum has joined Livemocha's board.
John Cook is co-founder of TechFlash. Follow on Twitter @johnhcook.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
TechFlash Team
Recent Sponsor Posts
The Triple Door Presents: The Atomic Bombshells "J'ADORE!: A Burlesque Valentine"
Seattle's reigning Burlesque super-troupe delivers a gorgeous and glittering VALENTINE featuring some of the Bombshells' most exhilarating acts to date. J'Adore! promises to celebrate l'amour with good humor, style, and a healthy dose of dazzle! Bring a friend, a lover, a family member, or a secret crush, and celebrate with the Valentine's Burlesque spectacular that will leave you shouting: "J'ADORE......The Atomic Bombshells!" The incomparable Jasper McCann emcees with high style and charm.
Please visit www.thetripledoor.net for a full schedule of future performances.
The Triple Door Presents: Bob Mould – See A Little Light: An Evening of Reading and Music
"Bob Mould. Those two words are synonymous with integrity. From Husker Du in the last century to right at this moment, Bob is the real deal, writing and playing music for music's sake. He's a great songwriter and performer. I have been a fan of Bob's for thirty years now with no end in sight." -Henry Rollins
Please visit www.thetripledoor.net for a full schedule of future performances.
Why Choose BDO for your SOC (previously SAS 70) Reports?
BDO’s experience in providing attestation services (SAS 70/SSAE 16, AT 101, AT 201, AT 601, etc.) to a broad range of industries, and our team of skilled professionals distinctly qualifies us to serve as your company’s Service Auditor. By leveraging the BDO global network of control specialists, we are poised to provide global services in more than 1,000 offices and across 119 countries. Many organizations find that investing in reports on controls may result in benefits, including:
• Increased client confidence
• Improved competitive advantage
• Minimization of frequent audits
• Streamlined business processes and controls
• Enhanced risk management
For detailed information contact Paul Martini at pmartini@bdo.com.
Seattle University Graduate Programs Accepting Applications:
Seattle University now offers two graduate programs in computing. The evening Master of Software Engineering program builds upon the professional experience of its students and offers courses in a variety of technical and management topics, with an emphasis on teamwork and a disciplined approach to problem solving. The Master of Science in Computer Science program accommodates both full-time and part-time students and enhances students’ previous academic work in computer science, in order to develop technical depth and lifelong learning skills necessary for successful career advancement.
