Rearden Steel Raise $67 Million A Round

from the that's-quite-a-bit dept

Rearden Steel, the much hyped, super secret company founded by WebTV founder Steve Perlman has raised a $67 million first round. This of course would have been shrugged at a year and a half ago, but it’s quite a big deal these days. The article actually has a lot of speculation on what the company is doing, and it basically sounds like a Tivo on steroids. Perlman’s comment comparing Apple’s Newton with today’s Palm Pilot, and suggesting the Newton and the Tivo are equivalent seems to say quite a bit about what they’re trying to do. Analysts (as they often are these days) are skeptical in all the right ways. Whenever the product is actually launched, if it’s a success people will forget the analysts’ negative comments, and if it sucks, the analysts will use it to build up their own predictive powers.

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