Tech Investors Are Taking Their Cues From Demi Moore’s Twitter Feed

Photo: Theo Wargo/WireImage

In case the gonzo valuations, explosion of the secondary markets, infighting, and Wall Street's involvement aren't enough to make you question whether we're in a tech bubble, The Wall Street Journal tries one more example: how quickly an Indecent Proposal reference can get your start-up $1 million.

At a Los Angeles "Startup Weekend" in February, Bo Fishback pitched his young company for all of one minute. Its product is Zaarly, a mobile application that asks users to name what they need quickly (from a personal assistant to a dog-walker), then brokers the transaction based on what users are willing to pay.

After the brief presentation, actress Demi Moore tweeted about the company. She noted that "everything has a price!"—a reference to her role in the film "Indecent Proposal," about a man's $1 million offer to borrow a stranger's wife for a night. Within 48 hours, Zaarly raised its first seed round of $1 million.

Too bad the Journal then undermines the bubble scaremongering by revealing that it was Ashton Kutcher and Lightbank, a venture fund created by the founders of Groupon, that invested. It's hard to freak out about a bubble for millionaires.

In Silicon Valley, Investors Are Jockeying Like It's 1999 [WSJ]