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November 4, 2009

It has been almost five years now since Martin Remy, Steve Neiker, Toni Schneider, and I started working on Sphere. For me, it is around 10% of a life. It is also the time when I find myself thinking a lot about a particular question: What do I want to do next?

In 2005, I had the good fortune of being on the founding team of Sphere and joining True Ventures simultaneously. I always thought that I would eventually focus all of my attention on one or the other, but both were too much fun and I guess I’m selfish in that way. As time passed, I went deeper into each role, and I never got around to choosing one or the other. It worked out nicely. True is on its second fund, and Sphere had a successful sale to AOL in 2008. Most importantly, Sphere’s business and team are both thriving within AOL. While I am proud of my contributions to both, the heroes in this equation are Martin, Steve, Toni, Shea Di Donna, Braughm Ricke, Om Malik, Puneet Agarwal, John Burke, Phil Black, Jon Callaghan, Marty Moe, Bill Wilson, and AOL – they trusted and empowered me to pursue both. I am extremely grateful.

As I’ve thought through the question of what is next, I’ve realized that I love the complementary perspectives acquired from building a company as an entrepreneur and investor. They are symbiotic roles, and it is really hard to say which has influenced me more. While my role at True as a Venture Partner will continue to deepen (because there is nothing more rewarding than working with people you admire and trust), I also find myself with a burning need to start another company. I have discovered my formula and doing both makes me happiest.

As for my next company, I’m not sure what the answer to that question is, but I’ve decided that I need to move on from Sphere (now Surphace) to figure it out. This may feel like old news as I’ve been working to make myself obsolete as Josh Guttman transitioned into the CEO role. My decision is easy as I know that Surphace is in excellent hands. I would not feel comfortable leaving if I didn’t believe that Josh was the right leader for the business today. He is a natural leader and has a strategy for the future that I believe is going to accelerate growth for Surphace and AOL. I couldn’t be more pleased for Josh and excited for the Surphace team.

As for my thoughts about Surphace and AOL’s future, I’m more optimistic than ever. We joined AOL at an opportune time. AOL is doing what great, sustainable businesses do every so often – they’re reinventing themselves. As the business model of the oldest and one of the biggest Internet businesses evolves, Sphere/Surphace has become an important piece of their strategy to reach across and engage the web. In the past year, we have had an insiders view into how AOL’s new leadership team has moved aggressively to engage their audience (new vertical focused web-sites; a focus on engagement and not page-views for page-views sake; hiring leading journalistic talent when others downsized; acquisitions in the local content space; shorter development cycles with an emphasis on release, iterate and release). There is nothing like winning, and the AOL publishing business is winning. As a result, I’m pleased to also announce that I’ve agreed to serve as a Special Advisor to AOL Ventures as they reinvent themselves. I am thrilled at this opportunity to evolve my relationship.

I want to give a huge thanks to the people who’ve made the last few years what they were: my family tops the list, an entrepreneur is only as good as their support system and this is my secret sauce. My co-founders, Martin and Steve, who trusted me to play a role in helping them get the tech they invented the exposure it deserved. Toni and Phil who taught me about generosity at a moment when I was able to learn. Matt Mullenweg who opened up my thinking of how a start-up operates. Marty and Bill who have been consistently supportive since Day One – I can’t underscore enough how much I appreciate the manner in which they’ve empowered Sphere to thrive in an appropriately independent environment. They have treated me (and the Sphere team) with enormous respect for which I am both thankful and flattered. The original Sphere team, the current Surphace team, who have embraced AOL. Our investors and advisors who supported and helped shape our vision. The True team and entrepreneurs who have taught me about sacrifice, vision, execution, and the value of pursuing your dreams — and, of course, Lewis Dvorkin, Kevin Lockland, and Bill who paid us the nicest compliment of all in offering to acquire our company and then doing so.

It has been a thrilling, at times difficult, always rewarding, and lucky ride I’ve been on. Thanks to all.

Walking The Walk

May 1, 2009

Bernard Lunn of Read Write Web interviewed True’s Phil Black to initiate his weekly series of interviews with venture capitalists. He wrote, “We chose True Ventures to kick off the series because it closed a Series A deal for Syncplicity in the dark days of October 2008, earning it a spot on our A-Team. When it closed a second Series A with LoopFuse in February 2009, it joined a very small contingent of VCs that have done two Series A deals since the financial meltdown.”

Today, Bernard posted an article on the current state of early-stage investing in the midst of this economic downturn. He lists VC “Double Hitters,” 11 firms that have done two or more Series A deals since October of 2008. True has invested in five Series A deals since October 2008. As Jon Callaghan said in an earlier blog post, “we remain open for business and are investing actively right now because we believe that true innovation takes years to develop, and now is an excellent time to build a company.”

Atypical Search

June 25, 2008

Business Week published a special report on talented and minimalistic Web Designer Dan Cederholm of SimpleBits and his handiwork – the redesigned Sphere website that launched this past March.

AOL acquires Sphere

April 15, 2008

Congratulations to Tony and the entire Team at Sphere on the AOL acquisition. This is a spectacular accomplishment, and it is a testament to your outstanding efforts and creativity over the past few years.

Early on, you had the vision to correctly recognize the value of linking blog-based content with global mainstream media. You went on to build a powerful product to address this need and systematically signed up the world’s leading publishers as customers. Your customer list is long and distinguished, and it is one of the best that I am aware of in the Web 2.0 media market (AOL, CBS, CNN, NY Times, Reuters, WSJ, to name a few). You launched early and often, and you listened closely to market feedback, which many times influenced product and company direction. From the inside, your high product standards, dedication to customers, and truly remarkable ability to do more with less serve as incredible examples to entrepreneurs everywhere.

It has been a wonderful privilege to be an investor in Sphere.

From all of us at True, thank you and congratulations!!!

Sphere Is Always On

January 23, 2008

Always On recognized Sphere as one of the top 100 game-changing, digital media players in the Online Advertising Service Providers’ category.

Congratulations to Tony & the Sphere Team on their OnMedia Top 100 award!

From London to Qatar

October 22, 2007

UK Journalist Victor Keegan met Sphere CEO Tony Conrad, Automattic Founder Matt Mullenweg, and a few other virtual practitioners at the FOWA conference (Future Of Web Applications). Just as the virtual teams of these companies span the globe, The Gulf Times in Qatar picked up this article on the virtual office from a London news service. With virtual companies on the rise, news is not the only bit of information crossing continents.

Congratulations!

August 9, 2007

Congrats to Martin, Steve, Toni, Tony & the Sphere team!
Acquired by AOL in April 2008.

Starring Tony Conrad

July 27, 2007

In an interview on Vator.tv, Tony Conrad, CEO of Sphere and Venture Partner with True Ventures, explains the role of a Venture Partner and expounds on the True investment philosophy.

We look for exceptional people.

Bling for Blogs

January 18, 2007

Matt Mullenweg, creator of WordPress, shares how many WordPress bloggers are adding Meebo & Sphere It widgets to their blogs.

Basics: Some Bling for Your Blog, The New York Times, January 18, 2007

Entrepreneurial Advice from a Hybrid Perspective

December 19, 2006

Tony Conrad, a Founder of Sphere, shares his own startup story and advises entrepreneurs to start with an interesting problem to solve, to listen to feedback, and to adapt to change.

A Hybrid Perspective: Tony Conrad, VC Investor in Oddpost Turned Founder of Sphere, Startup Stories, December 19, 2006

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