New Canaan GP Warren Lee Talks Myspace, Twitter and Bubble in Social Media
Meet Warren Lee, head of Canaan Partners' New York office. A specialist in digital media, Lee was promoted to general partner in June after spending six years with Canaan. He recently sat down with peHUB for a quick Q&A on a wide range of topics: Q: Is there a bubble in tech? A: I think there are bubbles in selective categories such as flash sites and social media startups. There are too many 'me-too' startups without any real differentiation getting funded by investors. How many different services can your average online consumer subscribe to before getting fatigued? Q: What did you think of Specific Media buying Myspace for $35 million? A: I was surprised the price was so cheap. Thirty five million isn't a lot if you can execute and take advantage of the asset. gotten a fair price. They've also gotten Justin Timberlake and you can't beat that combination. There's still lots of traffic and lot of profiles. They'll get value out of it.
