Wednesday, Sept. 15, 8:30 am
We've got some great news that we wanted to share directly with you, our core community of Fools. Later today, we're going to be releasing the announcement of our first significant round of outside financing, to the tune of $26.5 million. The investment is led by Maveron L.L.C. of Seattle, with Silicon Valley's Mayfield Fund making an important investment as well.
We didn't choose these two firms simply for the money they could invest into The Motley Fool. Instead, we selected Maveron and Mayfield, after considering numerous options, because they share the same mission and long-term interests of our company and our community.
This marks Maveron's largest investment ever, more substantial than the early stakes it took in eBay and Drugstore.com. And Mayfield was instrumental in the financing of technology standouts like Amgen, 3Com, and Genentech. Both firms' deep understanding of the profound and ambitious aims of our enterprise, along with their past record as investors, made this an easy decision.
You may be asking, "How are you going to spend that money? What's in it for me?" Wait! You weren't thinking that?! We believe that as a member of our community, you should be thinking that way! Here are a few answers:
1. Improving how we serve you.
We have ambitious plans for making your life as a spender, saver, and investor a heckuva lot easier and more enjoyable. That will mean making aggressive investments in developing our website, as well as dedicating significant resources toward continuing to hire (at jobs.fool.com) the brightest, most talented, and most Foolish writers, analysts, developers, designers, deal-makers, and innovators. The customer service we provide to everyone with a question about money will remain a critical part of our success.
2. More, and even better, information.
The rich, multi-dimensional, Foolish Web service that you behold each day is the result of our collective effort - matching the best financial writers with the smartest community creates a lot of magic. PC Magazine tagged Fool.com the #1 place to talk about money on the Internet, we're the fastest-growing financial site on the Web, and we're going to spend to extend that lead. Each new member that we bring into Fool.com brings with him or her a unique perspective, background, and experience that becomes a part of the communal whole, increasing your chances of getting outstanding information, analysis, and ideas about your money. Over 1.65 million people visited Fool.com last month. It's time to get that up to five million, then ten, then fifteen, and beyond.
3. Creating a whole Foolish world.
We in Fool HQ have been asking ourselves for a few years now: "What if everyone were Foolish?" And we mean everyone. What if the entire world upheld our core values of honesty (above all), cooperative endeavor, a relentless search for better solutions, and an abiding optimism leading to positive results? Nearly two years ago we started Motley Fool UK (fool.co.uk) with one writer, a crate of bread pudding, and a dream. Today, thousands of UK Fools are taking control of their financial destiny. And people everywhere have important financial decisions to make but often lack the context to draw the best conclusions. Accordingly, in the coming months, we'll be taking our financial solutions to the four corners of the globe. As Shakespeare said, "Foolery, sir, does walk the orb like the sun; it shines everywhere."
For those of you who are new to our site, welcome. We're here to serve you 24 hours a day. For those of you who are veteran Fools, you should know that our common enterprise is gaining momentum, and this is the most exciting development yet. This is only the beginning. Yet the future is now.
David & Tom Gardner