AOL to aquire Adap.tv
Today is a big day for Adap.tv. I would like to congratulate Amir, Teg, Toby, Tim, Sean and the whole Adap.tv team for building such a great company.
AOL had been a great partner from very early on. So it was not a surprise when they came calling at the eve of our S-1 filing. This should be a very strong strategic acquisition for them. In Adap.tv they get an amazing team, a fast growing company, a strong technology platform and a big marketplace of buyers and sellers which should prove critical as AOL looks to extend beyond its own audience network.
We have been investors in Adap.tv for almost 5 year now with our friends at Gemini Israel Ventures, Redpoint Ventures and Bessemer Venture Partners. I don’t think it would be stretch to say that we have been through a lot together.
I feel very fortunate to have gotten the opportunity to work closely with everyone and especially with my friend Amir. I have learned a lot from his leadership, his fighting spirit and his healthy skepticism.
I am sorry our journey had to end here, it is obviously hard not to wonder what could have been. The silver lining is that I don’t have to be in the audit committee anymore. Congratulations again to everyone!
Lexity is now Part of Yahoo!
I called Amit last Wednesday soon after the acquisition announcement. We had been happy investors in Lexity for almost 2 years now since we led the Series A with our friends at True Ventures.
Amit was at a Yahoo conference room with the whole Lexity team, getting briefed by HR on roles, benefits, getting their pictures taken for their IDs and planning their move out from the Lexity World Head Quarters to the Yahoo! Complex. It all sounded like a well thought out, expeditious process but I admit it was hard to hear.
I would like to thank Amit and his whole team (for our investors and personally) for all their hard work and wish them all success in their new roles. It is sometimes difficult to see a company get sold a bit prematurely especially when they are hitting their stride, numbers starting to look like that elusive hockey stick with so much to look forward to.
In this case I think Yahoo! got a really great product, an exceptional team and a visionary in Amit that may potentially help revitalize the oft overlooked asset inYahoo! Shopping.
I look forward to seeing what happens next…
Great Oculus Rift video from Business Insider
We are very happy to announce that we have co-led an investment in Oculus VR with our friends at Matrix Partners.
I met the founder of Oculus, Brendan Iribe for the first time, at Westin San Francisco Airport. Brendan had to catch an afternoon flight from Irvine in short notice. I was not too happy to have changed my afternoon flight back to Boston to a red eye, either.
The meeting did not start very smoothly: our meeting room with all the demo hardware was locked. Then the PC, the keyboard and mouse in that order gave up a few times. So when I first put on the prototype Rift, I was not expecting too much.
Was I wrong - it was an amazing transformational experience. For the next 10 minutes I could not find anything more intelligent to say than ‘wow’. The world had apparently come a long way since my first experience with virtual reality - Virtual Pompeii - circa 1995. All I can think of soon after - and for the next few weeks - were all the possibilities and what I would have to do to convince Brendan (and my partners) to be investors in this amazing company.
Now that we are, I am so looking froward to the our adventure together.