Union Square Ventures — the New York-based investment firm with a stake in Twitter, Foursquare and Zynga — has announced that it has invested in Delicious founder Joshua Schachter’s latest project: stealth startup Tasty Labs.
Schachter founded the social bookmarking web service Delicious in 2003 and went on to sell it to Yahoo in 2005, a decision he later publicly lamented.
At Tasty Labs, Schachter is joined by co-founders Nick Nguyen and Paul Rademacher. Rademacher is a former Google and Dreamworks engineer; he’ll be heading up engineering for the stealth startup. Nguyen previously worked with Schachter at Delicious and just recently left Mozilla to serve as VP of product for Tasty Labs.
Little is known about Tasty Labs apart from the all-star pedigree of its founders, but the startup says it plans to put “the useful back into social software,” according to the sparse website.
“We’re building a social layer based on utility and the apps to run on it,” Schachter said when reached for comment.
Andreessen Horotwitz and additional undisclosed angel investors all participated in the round. Funds will used to build out a team of engineers and designers in Silicon Valley.
Image courtesy of Flickr, Joi
Reviews: Delicious, Flickr, Google
More About: delicious, joshua schachter, social software, startup, Union Square Ventures
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