Mark Cuban Supports SlideShare as an Angel Investor

Mark Cuban, the owner of NBA team Dallas Mavericks and Chairman of HDNet, recently invested money on SlideShare, with the aim to help provide capital for the company's expansion, development of new products, and for the growth of its consumer base.

SlideShare is a community for sharing presentations. Currently, the site has over 300,000 presentations. The site accepts PowerPoint, PDF and OpenOffice presentations. SlideShare users are able to upload, tag, download, and embed presentations into their own blogs or website, as well as synch audio to slideshows. SlideShare basically works like YouTube. With YouTube, you get to host videos whereas SlideShare allows you to host documents and presentations.

SlideShare was able to generate $3 million from a pool of investors including Venrock Associates, a leading venture capital firm, and a group of prominent angel investors. Aside from Mark Cuban, other angel investors include Dave McClure, a Silicon Valley tech entrepreneur; Jonathan Abrams, founder of Friendster and Socialzr; Yee Lee; Ariel Poler; Hal Varian, Google's Chief Economist; and Saul Klein, the former global VP of marketing and e-commerce for Skype and a current Partner at Index Ventures, a venture capital firm investing on life sciences and information technology companies.

Aside from using the money for its expansion, SlideShare is also using some of the money for their office relocation from Mountain View to San Francisco and for deployment of more employees.

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