Patience is a Virtue!
My grandmother used to tell me, my brother and sister that “patience is a virtue.” Of course, she used to say it while we were playing gin rummy and she was taking too long to drop a card. But her point was not lost on the Hornik siblings. My grandmother was not willing to rush something for the sake of moving on. She believed in being thoughtful and deliberate and making the best possible choices no matter how long it took. Thanks for the lesson, grandma! Duly noted. Today we announced that Rakuten has entered into an agreement to purchase Ebates for a billion dollars.
The improving VC picture
Over the past few quarters I’ve been wondering if we’re seeing a renaissance in venture capital and whether now was actually an ideal time for LPs to be allocating to VC…
This Is The First Question The Godfather of Silicon Valley, Ron Conway, Asks Before Making An Investment
Y Combinator’s Sam Altman has been teaching a class called “How to Start a Startup” this fall at Stanford. The 20-session course has an amazing list of guest speakers, including early Facebook investor Peter Thiel, Y Combinator co-founder Paul Graham, and LinkedIn founder Reid Hoffman (all lecture videos are available for free). One of the recent speakers was Ron Conway, the legendary founder of SV Angel, who’s best known for making small investments in a bunch of different early stage startups. For example, he invested in Google back in 1999, before the search engine became the behemoth it is now. How does he start his investment process? “Usually the first question I ask is, ‘What inspired you to create this product?’” Conway told the crowd. He said he expects the product to be a solution to a problem the founder personally experienced. Read more…
VCs Look To The Future As IoT Investments Soar
Internet of Things startups are amassing millions in venture dollars to make their way out of the conceptual future and into our homes, cars and offices. Crowdfunding platforms have made hits out of intelligent coolers and customizable smart watches, but the top venture-backed companies have been centered around the home automation and security space.
The Trap of Relative Value
Yesterday, at The Calloway Way event at MIT, I ran into Joe Caruso. I’ve known Joe for a while – we met through Techstars Boston, where he’s been a great mentor and very active angel investor. He had just read my post on being uncomfortable with the phase of the current cycle and told me an anecdote from the great Internet bubble of 2001 that I hadn’t heard. A guy came up to me and said “I just sold my dog for $12 million.” I responded, “WTF – who would ever buy a dog for $12 million? That dog must have gold plated teeth!” The guy responded, “Nope – but it’s a normal dog. But I was able to get two $6 million cats for it.”
Brad Feld in Boston: ‘Let Go’ of the Build-a-Lasting-Company Mantra
Prominent venture capitalist (and former Bostonian) Brad Feld is back in the Hub this week, sharing insights on company-building that are gleaned in part from a new book by his uncle, Charlie Feld. Among the stops made by Brad and Charlie…
Verizon Ventures Seeks To Double Portfolio And Investment Capital
Verizon Ventures, the venture capital arm of the Internet, phone, and wireless networking services company, will look to double its portfolio and the capital it invests in startup companies, TechCrunch has learned. Speaking ahead of his participation in the Made In NY Media Center Demo Day, Verizon Ventures associate director of corporate strategy and development, Tom Constabile, said that… Read More
Why My Digital Health Startup Failed – HIT Consultant
HIT Consultant Why My Digital Health Startup FailedHIT ConsultantThey clutch their fax machines and rely on staff to field phone calls, and (at least in my father’s experience) would prefer to shut down their practices or join a less fulfilling group practice than take control and update their operation to best …
This Startup Saved Itself From Bankruptcy With A Brilliant Idea To Change How Auto Insurances Work
In late 2011, Brad Weisberg’s first startup, BodyShopBids, was just a few weeks away from running out of cash. At that point, Weisberg had made up his mind to drastically cut costs. “We’re pretty much out of money,” Weisberg told his employees. “Only one of you will get paid this month.” BodyShopBids, a mobile app that provided estimates and auto shop contacts to users who sent in their car wreck photos, was clearly a dying business.
Cloud Storage Company Box Pushes Back Its IPO To 2015
Cloud storage startup Box filed for an IPO at the end of March. It’s still not a public company. And, according to Bloomberg, it’s not going to be a public company until 2015. Sources tell Bloomberg Box is delaying its offering because of “volatile market conditions”. The market has been a bit bumpy in the past few days, but all summer it was pretty strong. Market conditions were favorable for Box then. The real problem for Box is that its business looks shakey…