VC Rating: Avvo targets lawyer's ad dollars (Tech Confidential

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VC Rating: Avvo targets lawyer's ad dollars

[Posted on June 8, 2007 - 5:55 PM]

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Company: Avvo
Description: Online lawyer reviews and ratings
Competitors: LinkedIn, Yellow Pages, Business.com
Location: Seattle
Amount Raised: $10 million
Round: Second
Date Announced: 4/19/07
VC Firms: Benchmark Capital, Ignition Partners
VC Directors: Rich Barton, Brad Silverberg
Quick Take: Just as Benchmark-backed Zillow is trying to vacuum up real estate and mortgage brokerage advertising dollars, Avvo, which launched its web site this week, is going after legal marketing budgets. Smart move. There are 827,000 licensed attornies in private practice in the U.S. that spend $4.5 billion per year on marketing. Avvo must ensure a fair and useful rating system, which is no gimme. It's other main challenge will be marketing its service, which presumably is where its fresh cash will be directed. With experienced management and a first mover advantage, Avvo should be able to successfully prosecute its plan.

Technology (1 out of 10): 3
Market: 8
Management: 7
Chances for IPO: 3
Overall VC Rating: 7

Tags: avvo, benchmark, ignition+partners, vc, venture+capital

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