First Round Capital
Managed by Josh Kopelman, Chris Fralic, Rob Hayes and Howard L. Morgan, the Philadelphia-based company typically provides seed-stage investment that ranges from $250,000 to $500,000. The company seeks to take an active role in the operations of the companies in which they invest, often investing in pre-revenue companies. "We think of ourselves as baby-nurses, not baby-sitters," says Howard Morgan, former professor at the Wharton School of Business, and partner at First Round Capital.
Since its inception in 2004, First Round Capital has backed more than 70 companies, including VideoEgg, Outright, Yummly, ScanScout, myYearbook, Knewton, Wikia, Yieldex Jingle Networks, Odeo, LinkedIn, Eventful, Krugle, Ambient Devices, The Climate Corporation, del.icio.us, IronPort, RockYou!, SkillSlate, Solve Media, Catchfree and several other firms. First Round Capital, while still in its very early years, has already generated significant returns for its investors from acquisitions such as StumbleUpon by eBay for $75 million and Mint.com by Intuit for $170 million.
For Christmas 2008, the company produced a video holiday card in homage to the hit YouTube video "Where the Hell is Matt? (2008)" in which its portfolio company executives were depicted dancing; the video became a viral hit. For its 2010 production, the firm created a series of YouTube videos spoofing the viral "Old Spice" videos.
- Well-Known Tech Investor Aims Higher, cnnmoney.com, Semptember 7, 2007
- Halft, Miguel (2006-11-09). "For Start-Ups, Web Success on the Cheap". New York Times. Retrieved 2009-02-23.
- ,"First Round Capital, Ideal Startup Investment", Angelsoft.net
- "Howard Morgan of First Round Capital at a FundingPost event", Youtube, 2008
- "First Round Capital", CrunchBase, February, 2009
- VideoEgg Gets a Jolt of VC, businessweek.com, September 27, 2006
- Online bookkeeping startup Outright raises $5.5M
- Yieldex.com, 2008
- Barbierri, Cody (2010-10-20). "SkillSlate Grabs .1M to Find Local Service Providers". The New York Times.
- Ruth, Joao-Pierre. "Solve Media, Backed by First Round Capital & AOL, Uses Online Ads to Tell People and Spambots Apart". xconomy.com.
- First Round Capital Portfolio
- eBay press release
- Mint.com press release
- "Happy Holidays from First Round Capital", YouTube, 2008
- "Where the Hell is Matt (2008)", YouTube, 2008
- "First Round Capital 2010 Holiday Card", YouTube, 2010
- First Round Capital (company website)