The mystery project of Twitter cofounder, Biz Stone, has secured an undisclosed amount of funding for his startup Jelly. The funding round was led by Spark Capital with other investments from SV Angel and individuals like former US vice president Al Gore, U2 Lead Singer cum Musician Bono, Emmy-winning director Greg Yaitanes, Evan Williams and Jack Dorsey.
The funding will most likely be used to bring new talent on board and focus on product development. According to the company, the investors will help providing diversity of experience, something that is important for the startup to grow in coming time.
“We chose angels like Al Gore, a Partner at KPCB and Chairman and Co-founder of Generation Investment Management, Greg Yaitanes, a Hollywood director, and Roya Mahboob, an entrepreneur doing amazing work for women in Afghanistan partly because they work in divergent fields. Knowledge diversity is something we prize highly and is also something that will be represented in our product” says Stone.
Jelly, being a side project of Stone, has not yet provided a clear picture of what the company is all about. However, he gave some hints. “As mobile devices have taken an increasingly central role in our lives, humanity has grown more connected than ever-herein lies massive opportunity,” explains Stone. “Jelly will be for everybody, it will be developed first and foremost for mobile devices, and it will be free. But, it won’t be ready for a while.”
Iamwire will love to guess the product jelly to be a mobile classifieds based on message broadcast and targeting with efficient tagging and intelligence engine at the backend, something which can converge Google Search, Twitter, Quora, Classifieds etc.
Biz Stone and Evan Williams started working on Twitter while the duo were employed at Google. Currently co-founder at 3 companies – Jelly, Twitter and The Obvious Corporation, Stone has been awarded with ranks such as ‘The Entrepreneur of the Decade’, ‘Most Influential People in The World’ etc. in various publications.