Milk Completes $1.5 Million Angel Round, Packed With Valley Names

Somewhat off topic, but every year or so I check the domain milk.com to see if the owner ever sold it. Just checked again. He's been sitting on it for 17 years now with the following message:

http://milk.com/value/

I imagine their first product will be a photo sharing application, that does group messaging, offering deals. Then they'll go on to raise 1 trillion dollars. You heard it here first folks.

Yeh so I am going to go out on a limb and say that this is very risky - I guess the mitigation for the risk is the small amount per angel, but considering that they only raised $1.5M an have 6 people on payroll....that just seems excessive.

Should be interesting to see what Kevin comes up with and if he can re-invent another industry.

I didn't realize that Ashton Kutcher is an angel investor.

Off-topic:

Does anyone here work in one of these "development labs" who's able/willing to talk about it?

if i had a killer idea and a ton of money, i'd fund it myself.

I'd love to work for them. Unfortunately it looks like they haven't gotten around to putting up a "Jobs" page on their website yet.

I am very excited to see what comes out of this shop. In fact I would like to see more entrepreneurs who cashed out the first time, start their own min-idealab.

Well, this will be interesting to see what happens.

They have min. 1.5 MM in funding - assuming they are all taking between 75 and 150K salaries, that should be ~24 months of runway -- shrink the salaries back a bit, and expect equipment / development costs and I'd expect thats realistically 12 to 18 months of funding.

So far, skull ninjas have produced (3?) projects, two of which seem to be about sharing (locations, and ranked lists)...

So we have 3 co-founders on the list, one of which appears to be biz-dev focused, a couple devs and some idea guys.

What I want to know though, is what they showed the investors to push them off the cliff to the tune of 1.5MM - divided among 22 people is an average investment of 68K per person, lets assume that the range is 25K++ as a base.

That is both a lot of faith in Milk, and a wide spread on the total amount...

I certainly hope they come up with something killer, but I just get the feeling that Kevin put a lot of work into getting investment into his own little idea incubator solely based on cult-of-personality and not based on the-next-big-idea, that is awesome, and I know that every geek in the valley would wish to do the same - but lets see what they actually produce.

(p.s. Kevin, if you were the Kevin in the wompt chat thread - you should reach to to that kid from MIT)