We're looking to round out our Portfolio Impact Team with a Senior Associate of Market Development. Market Development plays a critical role in supporting our portfolio companies. This individual will partner with one of our key portfolio companies, BounceX, supporting marketing, sales, services, and customer support to accelerate time-to-revenue.
Established industry players are most commonly ill-equipped to rapidly adapt to changing environments. The smart ones realize that they must acquire new capabilities at these moments, compensating for their shortcomings by acquiring more nimble, disruptive startups. Today’s news of ATPCO’s acquisition of Routehappy brings that trend to the online travel industry, where an established stalwart, having never made a single acquisition in its 53-year history, has acquired Primary portfolio company Routehappy to power the next generation of online flight merchandising.
NYC’s buzzing engineering community was evident last week when we convened the Primary100 to hear fellow engineer and SF transplant Greg Hochmuth share war stories from his time at Instagram. As Employee No. 7, he had a front-row seat to the dramatic ups and downs of a scrappy little team building product to its acquisition by Facebook in 2012.
Back-channeling can be a sensitive process, especially for candidates who are job-seeking under the radar, so it’s important to think carefully about who you ask and how you ask things. You’re looking for the real story on an operator’s past performance, but you don’t want to get too invested in one person’s feedback. For that reason, you should seek multiple perspectives and stay as open-minded and objective as possible.
One of the easiest investment decisions I ever made was backing Steve Ellis when he founded WhoSay. A few years ago, Steve sold Pump Audio - where I had led a seed financing - to Getty Images in a deal that generated the first meaningful exit for the firm I had co-founded. Over the course of Pump Audio, Steve had proven himself an exceptionally gifted entrepreneur and, equally important, an exceptional human being. When the Pump deal closed, I told him he had a desk and a blank check waiting for him whenever he was ready. Today, that decision has paid off, with the announcement of WhoSay’s acquisition by Viacom.
D2C activity was up from Q3, with a number of health and wellness brands emerging onto the scene. But it’s the enterprise SaaS platforms that continue to drive the most activity. Q4 saw new SaaS platforms take their own spin on digital marketing, cryptocurrency, HR, and tailored infrastructure solutions.