Betting on People

August 5th, 2012 / Comments Off on Betting on People

Throughout my career as an investor, I have bet first and foremost on people. Ideas and products naturally may change and morph over time as they find their footing and markets – I rely on the founders I back to persevere through adversity, to stay true to their vision and to assemble world-class teams.

It came as no surprise to me when I heard that Geoff, Matt and Nick of Meteor had raised a Series A round of financing led by Peter Levine at Andreessen-Horowitz. When Geoff first walked into our conference room, I knew that he represented a team that I wanted to work with. Not only did he have a rich background in building real-time frameworks, but the passion and confidence he exuded when talking about Meteor (then called Skybreak) was contagious. He was tackling a problem he had encountered many times before in his career, and he was convinced that there was a better way to develop rich, real-time web applications.

Since our initial investment (made approximately one year ago), we at WIN have had the pleasure of watching Meteor come together as both a company and as a product. Early on, Meteor added David Greenspan of Etherpad fame to its team and further solidified its ability to attract truly world-class, visionary talent. The Company also released an initial build of its product to a tremendously enthusiastic developer community, in the process achieving the single largest product release in the history of Hacker News. And with this new round of funding Meteor has not only surrounded itself with impactful and experienced advisors (Peter Levine, Rod Johnson and David Skok), but has also raised sufficient capital to ensure that it can continue to build an amazing team and product.

At WIN (Webb Investment Network), we have tried to put some rigor behind our early stage investing and normally look across a number of key criteria including team, market size, product and early traction. Though we normally prefer to see companies with a launched product and initial traction, we occasionally make exceptions and invest in a company based solely on the strength of the founding team and on the vision of the founders. We are thrilled to be partners with Geoff, Matt and Nick and are looking forward to their continued success in delighting developers and attracting the best and brightest to join their team.

Comments are closed.

Leave a Comment