Refined VCs Invest in Cash4Gold
Last week, I posed the following quiz question: Can you name the venture capital firms that just pumped more than $40 million into Cash4Gold, the company whose name – and ubiquitous television commercials – basically say it all. Your hint was to think East Coast, although not so far south as Cash4Gold’s Florida headquarters. I’ve received over 80 replies so far, including a small handful that answered correctly. So it’s time to spill the beans: The investors are General Catalyst Partners and Highland Capital Partners. If you’re like me, your initial reaction is to spit out your mouthful of Dunkin Donuts iced coffee and then wipe off your Kevin Garnett bobble-head. Ok, maybe that’s a bit too specific. Let’s just assume you’ve having a good chuckle. Still going? Think of something sad, so that we can collectively continue… For those who don’t watch too much television (here’s a test: do you know what a ShamWow is?), Cash4Gold is not some sort of national pawnshop chain. Instead, it’s better described as a C2B precious metals refiner. It pays consumers to send it jewelry
