Tags: Stone | Jelly | Twitter | funding

Bono, Gore Among Investors in Biz Stone's Mysterious Start-Up

Friday, 17 May 2013 11:05 AM

By Glenn J. Kalinoski

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Twitter co-founder Biz Stone's start-up Jelly closed a round of funding that was led by venture capital firm Spark Capital, with additional investment from SV Angel, as well as from music superstar Bono and former Vice President Al Gore.

As part of its funding, Spark general partner Bijan Sabet is joining Jelly's board of directors.

Other investors include: Jack Dorsey, co-founder and CEO of Square; Reid Hoffman of the Greylock Discovery Fund; author and entrepreneur Steven Johnson; Jason Goldman and Twitter co-founder Evan Williams via Obvious Corp.; director Greg Yaitanes; and Afghan entrepreneur and businesswoman Roya Mahboob.

Editor's Note:
The IRS’ Worst Nightmare — How to Pay Zero Taxes

"Knowledge diversity is something we prize highly and is also something that will be represented in our product," Stone wrote on Jelly's blog.

"As mobile devices have taken an increasingly central role in our lives, humanity has grown more connected than ever — herein lies massive opportunity. With this capital raise, Jelly has the means to hire more great talent and continue building what we think of as the natural next step for our connected society. We will share more about Jelly from a product perspective when we move beyond early prototyping."

Product specifics from the start-up have not been disclosed.

TechCrunch reported that "earlier hints" seem to point to some sort of "social good" intention with the service, "like perhaps offering a way for users to connect to social causes and show off their contributions."

Stone wrote on the blog in April that "People are basically good — when provided a tool that helps them do good in the world, they prove it."

Stone launched the start-up earlier this year and it's "expected to create a product that people can use on smartphones or tablets. It … may involve the intersection of mobile tech and the social good," according to CNET.

Editor's Note: The IRS’ Worst Nightmare — How to Pay Zero Taxes

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