Today, we are very happy to announce our investment in Superpedestrian – a company that is looking to revolutionize urban travel. I have been a huge fan of Assaf and Carlo and their groundbreaking work at the SENSEable City Lab at MIT. Some of you may have heard of their amazing creation - the Copenhagen Wheel - especially if you were a fan of the show Weeds. With an MIT license, Superpedestrian is the official home of the Copenhagen Wheel.
In this new era of crowd-funded consumer electronic start-ups, a 3D printer and some knowledge of electronics may lead to magical products. And some of these products may garner popular interest and create brand new categories. But, taking these products to market in many cases requires their creators to think through and innovate in areas beyond their initial inspirations. It requires a lot of hard work and capital.
The Copenhagen Wheel already has a cult-like following and Assaf and his team have been very hard at work to commercialize their creation into a safe consumer grade product. We are very excited to have the opportunity to lend the team our capital and our support to take this product out of the labs and into a reality.
If you are ever in Cambridge, you might want to stop by at the Superpedestrian World HQ and take a ride in one of their pre-production bikes.
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!