Synthasite raises $20 million

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Vinny Lingham just announced to the the world that he has raised $20 million for Synthasite, a simple online website building tool.

After Twitter, this investment is probably the 2nd largest VC deal since LehmanBrothers hit the fan.

TechCrunch has more details, but seems skeptical and questions whether SynthaSite would be able to grow in the “current economic climate”. I think this is a silly question. Services such as SynthaSite are perfectly positioned to take advantage of the situation.

There may be an economic crisis afoot, but TechCrunch is mistaken if it thinks it means every economically active  person is going to go into hiding after being laid-off. There will be many small businesses founded by laid-off workers in the next year. These businesses will need websites, quick!

With SynthaSite you can set up a brand new website, choose a professional looking template, add some basic info about your business and even create an online store that automatically integrates with your PayPal account. You can then publish to a synthasite.com subdomain or simply pay $15 to buy a custom domain through SynthaSite. You can literally do all of this within 10 minutes.

The other question TechCrunch raises is the Me-Too players in the market. Geez, do they even deserve mentioning? Synthasite has been growing 34% month on month (see compete.com) over the last year, and there’s a simple reason for this: Small Town South African born Vinny Lingham is smarter and faster than all the sheltered Stanford kiddies in Silicon Valley combined. Good luck to them though…

Disclaimer: Vinny is an investor in Skyrove WiFi Hotspots.

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