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Category Archive for Correspondence

Happy Holidays from all of us at True

December 24, 2008

Though the events of the past year have certainly been no laughing matter, our team shared a hearty laugh when Tony and Shea unveiled the True Ventures bobbleheads as our team Christmas gifts. (Be sure to look for Om in the Yankees outfit in back).

The end of year means we get to reflect back on all of the exceptional people that makes our business work so well:

The team at True grew a bit this year, with the addition of Om as Venture Partner, Puneet as Executive in Residence and Christiaan as our Summer (and beyond) Associate. We’re lucky to have such immense talent and clear thinking on our team, and we’re thankful that these folks put their faith and confidence in True. This year growth brought us additional vision, diverging opinions and new connections, and it has already made us stronger.

In recent visits with many of our investors, we were reminded of the important strength and perspective that they bring to our every day decision making. We’re fortunate that our investors have lived through many, many cycles and can offer us guidance and valuable counsel in times like these. Their unified and engaged support for our model in this environment bolsters our conviction and makes us stronger. This year our LPs also renewed their commitment to our vision with the successful closing of Fund II, which will enable us to continue to execute our core strategy for many years to come. We are incredibly grateful for their steadfast support.

The true hero in our model is the entrepreneur, and this year our entrepreneurs continued to amaze us with their resourcefulness, tenacity and creativity as they navigate their companies through extremely tumultuous times and start new ventures with energy and vision. We are grateful for the inspiration, dedication and creative talents of our entrepreneurs and founding teams.

Tough times have meant that everyone has worked harder and worried more, and now more than ever everyone has needed friends and family. This is compounded by the fact that our entreprenurial passion often makes it difficult to distinguish between home life and work life. This means that those around us have to share our conviction for what we do and have lots of patience for the ups and downs we go through. We’re hopeful that our firm has been able to be a friend to those around us, and we’re thankful for everyone who has helped each of us this past year. In particular to our close friends and families: thank you.

From all of us at True, we wish you a healthy and peaceful Christmas, and we hope that 2009 brings you continued health, opportunity, and prosperity.

Meebo’s New Interface

September 15, 2008

In October, Meebo will launch Community IM, a service enabling sites to offer their own web-based instant messaging services. Meebo is a great place to chat with friends regardless of their IM service, but Meebo’s new white-label platform will also allow other sites to offer this functionality without expending the resources to develop it themselves as Facebook and MySpace have. For a sneak peek of the new interface, read Eric Eldon’s post on VentureBeat.

Already Lucky in ‘08

January 4, 2008

Om Malik himself broke the news of his recent heart attack in classic GigaOm style: open, to the point, well thought-out, and witty. As usual, trying to write anything after you read one of Om’s posts is at best a humbling experience. He is The Master.

All of us are so thankful for Om’s recovery. We’re also extremely impressed with Om’s close friends, family, and colleagues at GigaOm, who mobilized over the past few days to create a remarkable support system for his recovery. The integrity and professionalism with which Paul, Liz, Katie, Surj, Carolyn, and the entire team acted during this trying time will inspire us all for years to come, and it was a rare privilege for me to witness. If fortune is measured by the quality of friends and people who surround you, then Om is surely at the top of the heap. (Is 583 comments a new record?).

Get well soon, dear friend. All of us at True are here to make your 2008 resolutions a reality. We look forward to many happier and healthier New Years’ together.

Happy Holidays

December 26, 2007

Happy holidays from all of us at True!

We look back on 2007 and marvel at the progress and growth of our portfolio companies: 17 companies with an average age of 14 months, founded by over 35 entrepreneurs, generating well over $5 million in quarterly revenues, serving over 2 billion page views a month, hosting over 100 million monthly uniques, and working with millions of customers.

As proud as we are of the operating metrics of the portfolio, we’re more proud of the people involved in making all of this happen. Over 250 people were brave (and in some cases crazy!) enough to follow the vision of the 35 founders of our portfolio companies. 250 people equates into well over 500 family members that are now connected to True: spouses, children, significant others, parents, loved ones. All of the entrepreneurs in our portfolio took a leap when they decided to strike out on their own. This leap of faith is tough (we know, because we did it ourselves). Deciding to start a company takes vision and hard work, but it also requires high risk: every entrepreneur puts a lot at stake in order to fulfill their dream. What our founders do each day takes guts, but more importantly it requires a supportive base of friends and family. We know there have been tough moments this past year, and we’re certain that there will be doubts and challenges along the entrepreneurial path in 2008. Despite the risks, as founders ourselves, we couldn’t imagine it any other way, and we’re certain that our companies are changing (for the better) the way people interact with media, transact in their daily lives, and discuss important issues of the world.

Thank you to our entrepreneurs for doing what you do, and thank you to the friends and families of these entrepreneurs who support, encourage, console, and listen at the day’s end.

It is a sincere privilege and honor for us to work for all of you. Your talent and passion are a great inspiration to us each day.

Happy holidays and best wishes for a healthy and peaceful 2008.

True Growth

April 10, 2007

It is with great pleasure that we announce the additition of Tony Conrad to the True team. Tony has been a very close friend of the firm since our inception, and he has been a valued friend and trusted advisor to all of us at True and to many of our portfolio company Founders.

Tony joins us as a Venture Partner, and he brings a wealth of consumer marketing and entrepreneurial experience to our team. Tony is currently the CEO of Sphere, a True investment, and a leading company connecting traditional media with the blogosphere. Prior to Sphere, Tony was an EIR with Phil Black and John Burke at Blacksmith Capital, and, before that, he was a Partner at VSP. While at VSP, Tony led the firm’s investment in Oddpost, where he backed CEO Toni Schneider (also now with True) and co-invested with Phil Black. Tony is also on the Board of Automattic, a True investment. Prior to starting his VC career, Tony was Director of Mergers and Acquisitions with Groupe Danone, a leading global consumer packaged goods company.

Those who spend time with Tony quickly appreciate his deep product understanding, clear vision for the future of social media, and creativity. We love Tony because of his empathy for the entrepreneur (he is one, after all), his uncanny ability to connect interesting people together, and his upbeat, can-do view of the world. He also has an unforgetable laugh and sharp sense of humor.

We’ve known TC for a long time, and we’re thrilled to officially add him the True team.

See his official bio here.

Happy Holidays from True

December 12, 2006

Happy Holidays from all of us at True Ventures.

Tis the season for giving thanks and appreciating that which sustains us each day. We’re thankful for our strong and supportive investor base, our tireless and passionate entrepreneurs who visualize a better future for the world and sacrifice today for tomorrow’s greater good. We’re very thankful for the health of our families, the time we all get to share together, and for a world and country that enables us to strive and pursue our dreams.

We hope this holiday season finds you close to loved ones and that next year is filled with challenge and reward.

To our entrepreneurs and investors, we are exceptionally grateful for your confidence and steadfast support.

Our best,

The True Team