Color is a Silicon Valley based startup that has raised $41 million from investors including Sequoia Capital (who invested more in Color than they did in Google). The more cynical observers, (almost everyone), have pointed to this funding as a sign that the bubble is well and truly back. That just goes to show how little you know.

It is not often that you get to see how someone can raise that sort of money so when we were sent a copy of the business plan, we felt we had to share it. Here it is.

This is how you raise $41m for an idea. You can download the full plan here:

COLOR Business Plan

People. Colors. Apps. Cats. Bacon. Organic. Bieber. Mobile. Social. Local. Pivot.

Brilliant.

Thanks to the  fine people at New Work City for the leak.

Nice summary of budget and what it means for entrepreneurial businesses from BDO Tax Partner, Tony Spillett.

“By boosting the cut in Corporation Tax rate, Entrepreneurs’ Relief, R&D allowances for SMEs and the Enterprise Investment Scheme, as well as permitting non-doms to remit funds tax-free for investment in British business, he has given entrepreneurs what they wanted.”

The reforms to the foreign profits legislation, announcement of new Enterprise Zones and proposed 5.75% rate of corporation tax for offshore financing companies should be good news for larger businesses.

Headlines from the speech are as follows:

Corporate Tax

• The main rate of Corporation Tax will now be reduced to 26% from 1 April 2011 and by 1% annually thereafter, now to 23%. The small profits rate will be reduced to 20% from 1 April 2011.
• No changes were announced to thresholds for the small profits rate and main rate of Corporation Tax.
• As previously announced, capital allowance rates are to be reduced to 18% (main pool) and 8% (special rate pool) from 1 April 2012 and the Annual Investment Allowance to reduce to £25,000 from the same date.
• The duration of Short Life Asset elections is doubled from four to eight years for expenditure incurred after 1 April 2011.
• The rate of R&D tax relief for SMEs will be increased to 200% from 1 April 2011 and 225% from 1 April 2012.
• Further consultation from May 2011 on proposed 10% Corporation Tax rate on income from qualifying patents.
• Foreign profits reforms will ultimately produce a 5.75% effective Corporation Tax rate on overseas financing income.
• 21 New Enterprise Zones are to be funded, with scope for enhanced capital allowances where they are situated in areas of high value manufacturing.

These changes should be almost wholly welcomed by business. For many years we have called for a 20% main rate of Corporation Tax to increase the competitiveness of the UK – hopefully Mr Osborne will go all the way in future Budgets.

Global businesses will be scrutinising the impact of the changes to the taxation of foreign profits before moving (or moving back) to the UK.

Income Tax

• As previously announced, the personal allowance is to increase by £1,000 to £7,475 from 6 April 2011, funded by a reduction in the higher rate threshold.
• There will be a further increase in the personal allowance of £630 to £8,105 from 6 April 2012, with no corresponding reduction in the higher rate threshold.
• No change to basic (20%), higher (40%) or top (50%) rates of tax, or tapering of personal allowances on earnings over £100,000.
• There was no indication of when the top rate of tax may be reduced, but a commitment that it is “temporary”.
• As previously announced, pension reform is to take effect from 6 April 2011 (tax relief on £50,000 annual allowance) with £1.5m lifetime allowance from 6 April 2012.
• EIS income tax relief increased from 20% to 30% from 6 April 2011.
• The annual investment limit in EIS companies increased to £1m from 6 April 2012, and the size of qualifying EIS and VCT business increased (fewer than 250 employees, no more than £15m of gross assets).

Non-doms have a new decision to make based on the increase to £50,000 of the annual charge, and the new option to remit funds to invest in UK business. UK domiciled individuals also have the opportunity to substantially reduce their income tax bill through investing in qualifying EIS companies.

National Insurance Contributions

• As previously announced, Employees’ Class 1 Contributions increase to 12% (capped) and 2% (uncapped) from 1 April 2011, Employers’ Class 1 Contributions increase to 13.8%.
• A long consultation period to start on merging NIC and income tax, but continuing to exclude pensioners.

Following the previous Government’s increase in NIC in the March 2010 Budget (which is about to take effect), further changes were not expected this time around. The long and winding road to unify Income Tax and NICs will keep many civil servants busy for years to come. We hope that the artificial distinction between these two taxes, and the consequent administrative burden, can be eliminated over the next few years.

Capital Gains Tax

• No change was made to the headline 18% and 28% rates.
• Entrepreneurs’ Relief remains at 10% but qualifying lifetime gains doubled to £10m from 6 April 2011.

It’s undoubtedly great news that the lifetime limit for Entrepreneurs’ Relief has been doubled (and has now increased tenfold within 12 months). However, it is unfortunate that a form of taper relief or indexation allowance was not introduced in relation to assets held for a long period of time, and that employees with less than a 5% shareholding and certain investment businesses remain totally excluded.

Indirect Tax

• The 20% VAT rate remains unchanged.
• The VAT advantage from buying low value items, eg CDs from outside the EU, is to be targeted.

Following January’s VAT increase, it was no surprise that VAT has largely remained unchanged.

For more detail, read the full summary here.

Huge thanks to everyone who got involved in Wednesday’s CEO Tales run with the generous and active support of Taylor Wessing and Erevena.

Without wishing to sound too triumphant, (I didn’t do any of the discussing after all!), the panel was one of the best I have heard and sparked some really intelligent debates about the subject over the evening. I am sure you will join me in saying a huge, ‘THANK YOU!’ to Rory Cellan-Jones, Stephen Allott, Ben Holmes, Sherry Coutu and William Reeve.

Don’t forget to go and sponsor Rory for his Red Nose Day slim. Apparently he lost 200 grammes last week, but perhaps with a bit more encouragement from us, he will win the prize in the BBC Economics Unit for the biggest loser. http://www.justgiving.com/rory-cellan-jones1/

There have been a few press mentions of the discussion – Real Deals, Business Insider, though sadly no one has yet picked up on the observations around the UK being such an attractive place for foreign entrepreneurs to grow large businesses – we are clearly doing lots right!

Here are a few pictures from the evening, you can see more and add your own on Flickr. Feel free to add notes and names.

The panel

Great infographic from the New York Times looking at the world’s capacity to store information. The mind boggles while data storage capacity quietly mushrooms.

Storage capacity in the world

You know mobile is getting more important to your business but can you see how it can make you money now? This day will help you understand exactly that.

There is so much guff and hype about mobile that it is hard to see the important stuff. Our one dayMoney in Mobile Forum on June 14th will help you see the wood from the trees.

We want to see how companies are making money from mobile today as we think the companies that take mobile mainstream will be among some of the most successful businesses of the decade. Putting some of the people that are making this happen together in a room and helping them share ideas, meet partners, investors and customers seemed like a sensible thing to do. Throw in some press for good measure and we have the ingredients for an exceptional day of discussion, business development, networking and mobile brain food.

• You will get to meet with senior people from companies playing leading roles in making mobile a business necessity.
• Over 30 of the most active VCs in mobile will be there.
• You will hear from ten businesses who will make a case to be the winner of our Money in Mobile Award. This will be presented to the company who in the opinion of the judges has the greatest potential to make money for customers.

If you are making things happen in mobile – either as an entrepreneur or adopter of technology – you will fit right in. Pontificators, hangers-on and wannabes – not so much.

If you don’t have a mobile strategy, you don’t have a future strategy

Ian Carrington

Head of Mobile, EMEA, Google

Focused, punchy sessions will use case studies and open discussion to show how some of the most innovative businesses are using mobile to find and attract new users and customers, drive them to purchase decisions, retain, engage, up-sell and recruit brand advocates. You will also see how a key lesson from ecommerce is that a great customer experienceis crucial to increasing sales and customer retention. Have we forgotten this also applies to mobile?

The format is simple, but productive:

• Talks, discussions and debate from speakers who are experts by dint of their real world experience.
• Rapid fire talks from 10 peer-reviewed companies judged by our expert panel to have the highest potential to make others Money in Mobile.
• Speed networking sessions.
• Drinks networking and announcement of the winner of the Money in Mobile Award

BLN events are for CEOs, founders of entrepreneurial businesses, venture capital and private equity investors, senior decision makers in corporates. We pride ourselves in the value that we bring to the innovation ecosystem by bringing high value people together.