Who would have thought something *not* happening would make the news? Well that’s what we get when legacy media is desperate, they start making things up. For example:
Headline: “AOL founder Steve Case to invest in two Twin Cities startups”
Intro: “Twin Cities tech startups Docalytics and Kidizen will receive $100,000 apiece from AOL founder Steve Case.”
False. Offer ≠ deal.
Verbal offers are often made, but the devil is always in the details. Nothing is real until accepted — something neither of these startups have at time of publishing.
From Dug Nichols, Kidizen CEO: “Team Kidizen had a number of lengthy conversations right after the pitch from very interested vc firms and we’ve had follow up emails as well. Difficult to give you anything concrete until after we’ve had follow up conversations with all of these.”
Even if its probable that they may receive the funding in the future (as I hope they do), this inaccurate information leads people to believe something has happened when it has not.
**Edit 11:30am – The magic word “offers” was added to the headline.
**Edit 12:15pm – email from source editor says “Just wanted to reach out and say thanks for flagging the error in the Steve Case story, and to encourage you to contact me if you spot anything that needs our attention. We went off a press release that made the investment sound final.”
**Updated Oct 2014 – Evan Carothers and Dug Nichols confirmed that Stave Case has officially invested.