MyPunchbowl.com gains funding from Intel and eCoast Angels

MyPunchbowl.com, a party planning web site, announced a seed round of funding led by Intel Capital and eCoast Angels.  MyPunchbowl.com provides an easy way to plan an at-home party with an innovative user interface for every phase of planning. Hosts and guests can use the web application to effortlessly plan and socialize before and after a party. You can sign up for a free account at http://www.mypunchbowl.com.

“The event-planning market is substantial and enjoys viral growth dynamics,” said Lucy McQuilken, investment manager, Intel Capital. “Punchbowl is well positioned to take advantage of Web 2.0 technologies and become one of the leaders in this market segment.”

Punchbowl has been written up in some of the top newspapers and magazines in the country.

Newsweek says "Before you dole out invites, send a Pick-a-Date e-mail that presents guests with several options. Designate certain invitees as VIPs and the site prioritizes their responses as it calculates which date works best for the gang." 

CNBC says "...They are the developers of one of the hottest websites in America and around the world. These are the folks that are at the vanguard of web development."

The Wall Street Journal says "The date recommendation feature was more sophisticated than other sites. We like how the host could secretly designate some recipients as VIPs."

TechCrunch says "Today, MyPunchbowl has made setting a date that much easier through the help of an algorithm that recommends the best date for your party."

MyPunchbowl also launched a Facebook app called PartyAnimal. The Facebook crowd is definitely the right target market for parties. PartyAnimal lets you declare yourself a party animal, and lets you nominate your friends as party animals too. See BestFacebookApps for a full description of PartyAnimal.

What is the business? MyPunchbowl has multiple revenue streams. The service is free to users. The revenue comes from advertising, sponsorships, ecommerce, and revenue shares from party suppliers. Think about Coke, Budweiser, Kraft Foods, Frito Lay, and all the party suppliers. This is a great target market for their advertising. Even the local supermarkets, Pizza shops, cake bakery, and caterers, want to advertise. The greeting card and photo companies are interested too.

Punchbowl Software was founded by Matt Douglas and Sean Conta. Matt was previously in senior management positions at Bose Corporation and Adobe Systems. Sean has held positions at Zildjian Cymbals and Innoveer Solutions. You can try it out at http://www.mypunchbowl.com.

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Comments

[ashimmy]

Don - I checked out mypunchbowl.com. I already use e-vite. I don't know, maybe I am missing something. But "saving the date" seems to be the only cool feature here. Otherwise pick a templated invite, email it out and use a google map to find a Party City near your zip code. I don't see the big deal.

[Syam Buradagunta]

I'm with Alan on this one. I don't understand all the histrionics. E-vite is great and they make about $5M a year on ads. eCoast Angels must be hoping that the compnay gets acquired by IAC or another internet conglomerate. In that case, mypunchbowl is better served to be an email harvester than a revenue generator because in the end that's how potential acquirers will value them.