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JUL 03, 2013 - Business Insider

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Tough Times For NEA, A VC Firm That Put Big Money Into 3 Failing Startups Lot18, Viddy And Beachmint

If you follow the world of startups, you know Beachmint, Lot18 and Viddy have all made headlines over the past few years. Initially, they were recognized for raising big rounds of financing from notable investors. Each has raised more than $35 million (and in Beachmint's case more than $70 million) to date. Now, they're suffering management changes, layoffs, and some of their products are shutting down. Two of them, Viddy and Beachmint, are reportedly returning close to $20 million to investors. Beachmint is a celebrity-endorsed e-commerce company, Viddy is a social video app with filters, ... Read More

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