Howard L. Morgan
|Howard L. Morgan|
|Born||Howard Lee Morgan
New York, New York
|Education||Cornell University; City College of New York; University of Pennsylvania|
|Occupation||Businessperson; Chief executive officer; Professor (former)|
|Spouse(s)||Eleanor Morgan (present)|
Esther Hyman Morgan
|First Round Capital|
Howard Lee Morgan is an American venture capitalist, philanthropist, socialite, angel investor, author and contributing writer for Business Insider. He also serves as the Chairman, CEO, Director, Board member or advisor for an assortment of companies including Franklin Electronic Publishers, Arca Group, Idealab, Math for America and managing partner for First Round Capital with partners Josh Kopelman, Chris Fralic, and Rob Hayes.
According to Business Week Morgan is said to be "connected to 31 board members in 31 organizations across 32 different industries". He has been listed on the Forbes 2009 list of Executives and Directors, currently ranked #12 on CouldAve’s Top 30 Most Respected Venture Capitalist for 2011 and rank #1 in Philadelphia.
Background and education
Howard Morgan attended the City College of the City University of New York in 1965 where he earned a Bachelor of Science in physics. He then received a Ph.D. in Operations Research from Cornell University in 1968. Morgan was also awarded an honorary Master of Arts degree in 1974 from the University of Pennsylvania.
Academic career (1968–1985)
After earning his Ph.D from Cornell University Dr. Morgan was granted a faculty position with their Department of Computer Science in September 1968. He went on to work as Professor of Decision Sciences at the Wharton School of the University of Pennsylvania and also Professor of Computer Science at the Moore School at the University of Pennsylvania. During his academic career Morgan also served as an editor of Communications of the ACM, Management Science, Transactions on Office Information Systems and Transactions on Database Systems. His research on user interface technology, and on optimization of computer networks led to his bringing the ARPAnet to Philadelphia in 1974. As a result of this early participation in the internet, he advised many corporate and government agencies on the uses of electronic and voice mail, implementing it throughout the Wharton School in the mid 1970s. Morgan continued to work as a professor from 1972 through 1985.
After working with the Association for Computing Machinery he was published continuously in a number of their publications from the mid 70s to the early 80s. The notice from his work in the early stages of the internet prompted Morgan to began authoring a number of his own books on the subject. Since the early 70s to the present he has published many books ranging from computer science, business investment, and marketing.
- Morgan, Howard (1973). Implementation of Complex Management Information Systems. Defense Technical Information Center.
- Morgan, Howard (1975). ASAP to REL: Efficient Relational Data Bases from Very Large Files. Defense Technical Information Center.
- Morgan, Howard (1976). WAND Demonstration. Defense Technical Information Center.
- Morgan, Howard (1979). Office of the Future Seminar. CIA.
- Morgan, Howard (1982). MDM: embedding the time dimension in information systems. University of Pennsylvania.
- Morgan, Howard (1982). 1982 National Computer Conference. AFIPS Press. ISBN 0-88283-035-X.
- Lodish, Leonard; Morgan, Howard (2001). Entrepreneurial Marketing: Lessons from Wharton‘s Pioneering M.B.A. Course. John Wiley & Sons.
- Lodish, Leonard; Morgan, Howard (2009). Marketing That Works: How Entrepreneurial Marketing Can Add Sustainable Value to Any Sized Company. Wharton School Publishing. ISBN 0-13-702133-X.
Howard Morgan's decision to transition from class to corporate capital was based on the technological expansions of the 1980s. The private sector of the time saw small startups like Microsoft make billions and potential for other revolutions in the industry were just as possible.
In 1982 he co-founded Renaissance Technologies Corp. in New York with James Simons. And from 1983 to 1989 served as President where he supervised venture capital investments in high technology companies. He was also a founding board member and technical advisor of Franklin Electronic Publishers, one of the first manufacturers of personal computers, which he now chairs. He has been an active consultant and speaker to users and vendors in the information systems area for more than 30 years, and has worked with many of the Fortune 100 companies and numerous government agencies.
Venture capital and investments
Since 1989, he has been President of the Arca Group, Inc., a consulting and venture capital investment management firm specializing in the area of computer and communications technologies. Arca Group nurtures ventures and has taken them from seed stage through initial public offerings, including MetaCreations Corporation (now Viewpoint Corporation), a computer graphics software company, Infonautics Corporation( now Tucows), which provides search products and services on the internet and MyPoints.com, Inc.(now part of United AirLines New ventures) – the leading direct e-mail provider.
He has been involved in more than three dozen startups and was a lead investor in the formation of Bill Gross’s Idealab, a Pasadena based incubator for internet companies. Idealab also founded Internet Brands which operates many media, community and e-commerce websites including Wikitravel. Howard Morgan served as a board member on Internet Brands until the media company was acquired in December 2010 by Hellman & Friedman for a reported $640 million.
In 2004 Morgan partnered with Josh Kopelman, Chris Fralic, and Rob Hayes to form the venture capital firm First Round Capital. The group specialized in providing seed-stage funds to technology companies. The Philadelphia-based firm is reported to provide seed-stage investments that have ranged between $250,000 to $500,000. In addition, the company has backed more than 70 companies, including VideoEgg, Outright, LinkedIn, SkillSlate and several other firms. In an interview for This Week in Startups with Jason Calacanis, he mentions that they look for passionate people with million dollar ideas and a vision to get there.
Morgan has accomplished so much in the area of startup investment that he was ranked #12 in the 2011’s Top 30 Most Respected Venture Capitalist. The list included Morgan among other such as John Doerr of Google, Ben Horowitz of Opsware and Michael Moritz. However, First Round Capital was the only company to receive 3 positions on the list.
Board of Directors Memberships
- 33Across(observer) Taking ad targeting to the next level
- Altruik(observer), Innovation in SEO Technology
- Ambient Devices, Glanceable Infocasts
- Algo Engineering, Trading technology for the future
- Axial Market, Discover, manage and close private transactions
- CE Interactive(observer), Information to make buying and installing consumer electronics easier
- Energy Innovations, Alternative energy
- First Round Capital, Seed stage funding helping talented entrepreneurs build remarkable companies
- Franklin Electronic Publishers, A world of knowledge in your pocket
- GumGum, intelligent licensing of content for the internet
- HealthVillage, More to come
- Idealab, Turning innovative ideas into successful businesses
- Intelligize, Better ways to create complex documents
- Kinetic Trading (observer), Systematic Alpha Generation in new interesting ways
- Luxology, The Art and Science of 3D, check out our new modo software
- Magic Works LLC, Quantitative Financial Models
- Partsearch Technologies, for appliance, computer, electronics or cellphone parts and supplies
- Single Platform, Digital Presence for restaurants
- Sticky Bits, Tag Your World,attach digital content to objects
- TechForward, Guaranteed buyback for your electronics
- Transpera(observer), Making Video truly MOBILE at last
- Snap.com, Better search productivity – get to the right answer sooner
Other Advisory Roles
- Aptera, Safe efficient exciting electric car (Advisory Board)
- CE Technologies, Continuing education solutions for the nation's workforce
- Cold Spring Harbor Laboratory (Trustee), Research and Education in molecular biology and genetics
- CVT Ventures, Venture-development group dedicated to helping entrepreneurs create and accelerate information technology businesses.
- Math for America, Dedicated to improving math education in the US
- Founding Member and Vice Chairman of the Board: New York Angels, Capital and mentoring for early stage companies.
- Pandora, a better way to find music you'll like
- SayMedia, A media company for a social age
- WineAccess.com, The largest online wine shopping community
- Unitronix Corp., (NASDBB:UTRX.PK), Geosleuth mining technology
- Zero-G Corporation, Commercial weightlessness, space tourism starts here (see me hanging around in space)
- Director: Evolution Robotics Inc.
- Director: MyPoints.com, Inc.
- Director: Organic, Inc.
- Former Director: Quarterdeck Corporation
- Director, Chairman of Audit Committee, Member of Compensation Committee and Member of Nominating Committee: Segue Software Inc. 1993-2007
- Former Director: X1 Technologies, Inc.
Howard Morgan is married to Eleanor Morgan, an interior designer in Villanova and New York. They have three daughters.
- Kimberly Morgan (Blank): graduated summa cum laude from Harvard University and also received a law degree from Yale Law School. She worked as a management consultant at Mckinsey & Company and then as an associate at the venture capital firm of Warburg Pincus. She also is a board member for both the Greenwich Chapter of the American Red Cross and the Putnam Indian Field School.
- Elizabeth Morgan (Hammack): was hired as a trader for Goldman Sachs & Company and was later promoted to managing director. In 2011 Goldman Sachs announced that Mrs. Hammack had earned a partner's position with the company.
- Danielle Morgan (Koplin): graduated with a B.S. degree from the University of Pennsylvania in 1997 and later became a private investigator for the Legal Service of Waldman & Associates. She then in November 2005 married Kevin Koplin, a former assistant district attorney and current lawyer with McCabe, Flynn & Arangio. Afterward was hired to work as an investigator for Kern Informative Resources, Inc and has done so for the last 6 years.
After receiving the Entrepreneur of the Year award in 1997, Howard Morgan and his wife Eleanor decided to establish the Eleanor and Howard Morgan Foundation. Their foundation has since made many contributions to a host of other charities including but not limited to the Chabad on Campus International Foundation, Math for America, Cold Spring Harbor Laboratory, the Public Radio station WNYC and many more over the years. They also helped to fund the 90-minute television program in 2002 entitled 'New York in Song' which featured great songs and obscure songs about New York to raise funds to provide college scholarships for children of victims of the 9/11 terrorist attacks.
- "Morgan Family". ausum.com. Retrieved 2010-07-06.
- "Business Insider Profile Howard Morgan". Business Insider. June 3, 2009. Retrieved 2010-02-18.
- "Profile Howard Morgan". Business Week. June 3, 2009. Retrieved 2010-02-18.
- "Howard L. Morgan". Forbes. June 3, 2009. Retrieved 2010-02-18.
- "Top 30 Most Respected Venture Capitalist". CloudAve. February 3, 2011. Retrieved 2010-02-18.
- "Editor's Eye on Philadelphia: A Round of Applause for First Round’s Morgan, Fralic and Kopelman". CityBizlist. February 3, 2011. Retrieved 2010-02-18.
- "Howard Morgan Bio". ausum.com. Retrieved 2010-07-06.
- Annual report to the President 2. Cornell University. 1967. p. 8.
- Office of the Future Seminar. CIA. 1979. p. 198.
- Internet Brands Acquired for $640 Million
- Reuters article, Internet Brands to be acquired for $640mln
- TechCrunch, Private Equity Firm Acquires Internet Brands In $640 Million Deal
- Halft, Miguel (2006-11-09). "For Start-Ups, Web Success on the Cheap". New York Times. Retrieved 2009-02-23.
- "First Round Capital", CrunchBase, February, 2009
- VideoEgg Gets a Jolt of VC, businessweek.com, September 27, 2006
- Online bookkeeping startup Outright raises $5.5M
- Barbierri, Cody (2010-10-20). "SkillSlate Grabs .1M to Find Local Service Providers". The New York Times.
- This Week in Startups interview
- ,"First Round Capital, Ideal Startup Investment", Angelsoft.net
- David and Kimberly's Nonprofit
- Kimberly's Bio
- Elizabeth Hammack bio
- Harper, Christine; Fineman, Joshua (February 3, 2011). "Goldman Sachs Promotes 110 to Partner as Wall Street Rebounds From Crisis". Bloomberg. Retrieved 2011-02-18.
- Business Insider. February 3, 2011 http://www.businessinsider.com/goldman-partner-class-of-2011-2010-11
|url=missing title (help). Retrieved 2011-02-18.
- Danielle's Wedding announcement
- Danielle‘s Bio
- Nonprofit Database records 1
- Chabad on Campus International Foundation 2010 annual report
- Math for America Sponsors
- 2002 New York in Song website
- First Round Capital (company website)