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Show Entire ArticleTech Investors Crowd into 'Crowd Commerce'CNBC.com | June 16, 2011 | 01:30 PM EDT
On the heels of LinkedIn’s successful initial public offering, many of Silicon Valley’s biggest investors are throwing millions in seed capital at a handful of startups looking to cash in on something called “crowd commerce,” where everything and everyone has a price.
The concept of crowd commerce is a simple one: use the GPS capability of a smart phone to connect people who need something done with people willing to do it.
“We’re all about capturing the value of urgency,” said Bo Fishback, CEO of Zaarly, a crowd commerce company born out of the Startup Weekend conference earlier this year in Los Angeles.
Within three days of his pitch, Fishback said he raised a million dollars from some of the industry’s most well-known investors including Groupon founders from the venture capital firm Lightbank, legendary angel investor Ron Conway, and others. Celebrities Ashton Kutcher, Demi Moore, and LeVar Burton are also investors.
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