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Very nice terms, says Sabet of Boxee round

Published October 9, 2009 at 2:24 PM
Spark Capital's Bijan Sabet points out that good startups are still able to get deals done, despite the tough economy. He tells The Deal that Union Square Ventures' Fred Wilson and he, co-investors in Boxee, were very pleased with the $6 million Series B that the media center software developer raised in August, led by new investor General Catalyst Partners.



The deal involved "very nice terms for everyone involved," said Sabet. We caught up with him at Shake Shack II, a party where 300 of New York's most savvy entrepreneurs and investors shared free beer and burgers. At the party, Boxee was one of the companies named by attendees as most likely to be the next Twitter.

Sabet is testifying at a Massachusetts State House hearing Wednesday on noncompete clauses in employee contracts. He's against them.

Watch the video above or download it on iTunes. - Mary Kathleen Flynn 
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