First Tuesday (networking forum)

Now defunct, First Tuesday was a networking forum for technology entrepreneurs, companies seeking venture capital, investors and related service providers. Its last event was in 2009. Founded in 1998, its membership peaked at 38,000 members. Its 10 branches across Europe hosted meetings on the first Tuesday every month.

History

First Tuesday was launched on the first Tuesday of October 1998 at the Alphabet Bar in London by its founders Adam Gold, Julie Meyer, Mark Davies, John Browning and Nick Denton. The early First Tuesdays were held in the loft on Great Titchfield Street which housed Syzygy’s offices. Each month London’s Internet digerati would gather for drinks, and to listen to a speaker and share information on raising money and growing their Internet businesses. Early speakers included Brent Hoberman and Martha Lane Fox, the founders of lastminute.com; and John Taysom.

In late Spring 1999 Meyer left her job at NewMedia Investors to build First Tuesday's international network. In September 1999, First Tuesday launched into 17 cities across Europe. At Christmas 1999 and through the Millennium, Julie Meyer went to Israel, meeting Shlomo Kalisch of Jerusalem Global who had launched Yazam, a similar concept to First Tuesday.

First Tuesday London was incorporated in early February 2000. Yazam tried to purchase First Tuesday in February 2000, but failed, ultimately succeeding on the 20th of July 2000. First Tuesday's City Leaders and Julie Meyer had led an alternative funding strategy with investments ready from Karl Christian Agerup of NorthZone Ventures and Rod Schwartz of Catalyst Technologies. This funding might have enabled First Tuesday to implement appropriate business models, corporate structures and management teams. The business model emerging through the structured First Tuesday Matchmaking events was to take 2% of funds raised at a First Tuesday Matchmaking event. Despite evidence that this was taking off, the company was sold.

First Tuesday was run as an independent business or not for profit organisation in most countries.^{[citation needed]}

External links

• First Tuesday website