The round has a few traditional investors, such as Spark Capital and SV Angel. It also involved strategic angel investors such as politician Al Gore and musician Bono. Twitter co-founders Jack Dorsey and Evan Williams, LinkedIn founder Reid Hoffman, Emmy-winning director Greg Yaitanes, author Steven Johnson, Obvious Corp's Jason Goldman and business woman Roya Mahboob also invested.
Stone hasn't revealed what Jelly is yet, but he has dropped a few hints.
" As mobile devices have taken an increasingly central role in our lives, humanity has grown more connected than ever—herein lies massive opportunity," Stone writes.
The name Jelly – as in jellyfish – was chosen to reflect the community-minded product Stone is building. "Neurologically, [a jellyfish's] brain is more 'we' than 'me,'" he writes. " Jelly will be for everybody, it will be developed first and foremost for mobile devices, and it will be free."
Stone says he'll use the cash to hire more talent. One of his recent hires is Kevin Thau, who led Twitter's music app project.
More From Business Insider
- INFOGRAPHIC: The Threats That Literally Surround Facebook
- Google Just Massively Upgraded Its Core Search Product With Google Now For Desktop
- Larry Page Surprises Crowd With Candid Q&A Session Following Google's Developer Keynote
- Venture Capital
- Biz Stone