VentureBeat - Latest Comments in Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

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Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

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Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

Martin Rose — Fri, 25 Aug 2006 08:05:12 -0000

Social networking in its simplist form is so 2005. I think the trend now is using the collective wisdom that such networks can provide to power new services. One area where I've seen some novel concepts spring up in recent months is in the job/services area, with services such as mkt10.com getting underway and even smaller players like wagescore.com having an even more revolutionary, yet embryonic model. the next 10 years of social network on the Internet will be fascinating.

Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

Jon Gales — Thu, 24 Aug 2006 13:36:49 -0000

I think the MySpace Co-Founder label is coming from Greenspan--it showed up in a Red Herring article. They actually went one step further and called him Founder. Not even sharing the glory with the people who actually founded it... I complained to the author but the story has not been corrected.

http://www.redherring.com/article.aspx?a=18120

Here's what I emailed Scott Martin about his story:

Where did you get the idea that Brad Greenspan founded MySpace? He may
be the self-described founder, but that doesn't make it true.

MySpace was founded by Tom Anderson and Chris DeWolfe. They met while
working at XDrive and left to form their own company called
ResponseBase. They did email list brokering (spam in business
language). Brad Greenspun was heading up eUniverse (that company was
later renamed Intermix Media, which is what News Corp. bought), a
company that did online advertising in the form of spyware. He bought
ResponseBase to invest in Anderson and DeWolfe but was out of the
picture in an ugly downfall less than a year later. Even after all the
fighting he came out of the Intermix buyout with a cool $47 million,
reportedly more than Tom and Chris.

Greenspan's involvement was an investment, that allowed Anderson and
DeWolfe to work on the site. Yu don't call the investor who provided
seed capital the founder. You call the founders founders. Otherwise
you end up with the crazy idea that YouTube was founded by Sequoia
Capital, Google founded by Stanford, etc.

Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

cody — Thu, 24 Aug 2006 11:16:04 -0000

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Re: Venture capital roundup: The MySpace “touch”, True Ventures and Maven’s web woes

Dan Primack — Thu, 24 Aug 2006 07:10:39 -0000

To clarify: True Ventures invested in Meebo, Automattic, ScanR and Sphere. It did so with partner money before the fund held a first close, but those investments now all have been rolled over into the fund itself.