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Congratulations to Tony Fadell, Matt Rogers and the world class team at Nest! Today Nest announced that it has agreed to be acquired by Google. As investors in the company since the early days, we here at Lightspeed have been honored to be a partner of Nest. Nest is a very special company with a truly exceptional team… a VC’s dream. We are thrilled to see Nest have an opportunity to further accelerate its business as part of Google.

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Google Inc.’s acquisition of Nest Labs Inc., a maker of Internet-connected thermostats, for $3.2 billion is blockbuster territory for the venture capital investors who have backed the Palo Alto, Calif., company since its 2010 founding. “It’s a fantastic return,” said Peter Nieh, partner at Lightspeed Venture Partners, an investor in Nest.

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Jeremy Liew of Lightspeed Venture Partners –the first investor in popular photo messaging application Snapchat, told CNBC he was excited about Whisper's incredible growth. Liew invested $3 million in Whisper in April this year. "Three billion page views a month is a shockingly big number for a company only 18 months old," Liew told CNBC.

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Yesterday Facebook made a change to its newsfeed algorithm, promoting high quality content and deprecating [fancy word for de-emphasizing] low quality content and meme photos. What will this mean for the new generation of content sites who have fed entirely off of social sharing?

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MapR Technologies announced the appointment of Dan Atler as Chief Financial Officer. Atler brings over 20 years of executive leadership experience in public markets, mergers and acquisitions, and multinational operations, including managing three companies through successful IPOs.

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The cyber-currency was at the center of a Senate panel hearing Monday. Senators are looking into the way Bitcoin was used by the illegal drug marketplace that called itself Silk Road. But even with the scrutiny, Bitcoin investors drove the virtual currency to record highs.

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Chinese Bitcoin exchange, BTC China – the world’s largest by trading volume according to Bitcoinity.org – has closed a $5 million Series A from institutional investors Lightspeed China Partners and Lightspeed Venture Partners. BTC China was bootstrapped prior to this round, with money put in by its three co-founders, Bobby Lee, Linke Yang, and Xiaoyu Huang.

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New approaches to security and customer interaction technology dominate BTN editors' picks for this year's Top 10 FinTech Companies to Watch.

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Honest has succeeded in leveraging four of the key trends of this ecommerce 2.0 era: brand-first, celebrity, subscriptions, and brick-and-mortar distribution. From the minute it launched, Honest, through its branding, made it clear this was a company that consumers were meant to trust. I don’t know what Lee paid for the domain Honest.com or how the trademarks were still available, but whatever the cost it was money well spent.

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In April 2012, venture capital firm Lightspeed Venture Partners invested $485,000 in a startup called Snapchat. Snapchat allows users to send each other self-destructing photos. According to reports, the investment gave Snapchat a $12.5 million valuation. Today, Snapchat is worth $800 million. According to the Pew Research Center, 9% of all American cellphone owners use the app.

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