There are two types of angel investors in Silicon Valley today. The first type includes most of the "super angels," who are trying to hold the line on $4 million valuations for early stage investments and as a group seem unwilling to move past that psychological threshold. The second group say angel investing is a hits-driven business, and the valuations are less important than simply being in the right deals.
We're keeping a close eye on angel deals to watch this trend play out. Hipmunk, a new Y Combinator travel startup that we wrote about in August, is one of the first deals to fall cleanly on one side of the line.
Hipmunk closed a hyper competitive financing, we've confirmed with the company, raising around $1 million total. Investors include SV Angel (which has been hyper-critical of the AngelGate crowd), Paul Buchheit, Ashton Kutcher (through A-Grade Investments), Matt Mullenweg, Sam Altman, Geoff Ralston and others. But other than Conway/SVAngel, not a super angel is to be found on the list.Emc
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