Charlie's Angels: Path 101 Closes First Funding Round

Charlie O’Donnell’s Path 101 has closed its angel round.  True to his anti-stealth form, Charlie goes into great detail on his own blog. His angels:

  • Shripriya Mahesh, former VP of products for eBay
  • Joshua Stylman and Peter Hershberg, founders of Reprise Media
  • Bo Yaghmaie, IPO attorney at Pillsbury (We think; can’t tell from Charlie’s blog whether Bo has actually invested in this round or simply assisted with legal work)
  • USV’s Fred Wilson and Brad Burnham

Charlie also notes that Yahoo’s Kickstart, which looks as if it will cover the same territory as Path 101 — career advice/service/networking for college students and college graduates —  launches today. Charlie seems to think KickStart is more of a competitor to LinkedIn.  We can’t assess that until we see Yahoo’s product or Charlie’s.

We note that there are limits to Charlie’s full-disclosure approach to startup launching: He’s mum about how much money he raised, how much of the company he sold, and what his angels are valuing his company at. 

Well, in the interests of pressing the anti-stealth envelope, our understanding is that Path 101 plans to raise about $350,000, and we would estimate a $2-$3 million post-money valuation. Assuming Charlie and his partner Alex own equal shares of Path 101, and that they sell off around 15% of their company during this round, each of them would be worth $1 million or so, on paper.

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