Revolution LLC was founded in 2005 by Steve Case, a well-known entrepreneur and a co-founder of America Online (AOL), the first Internet company in the world to go public along with Donn Davis and Tige Savage. After negotiating the merger of AOL and Time Warner, a transaction that today remains the largest merger in business history, AOL Time Warner floundered and Case resigned from his post in January 2003, with the merger often cited as one of the worst mergers ever. After leaving the AOL Time Warner board in 2005, Case co-found venture capital firm, Revolution LLC, where he is the chairman and CEO.
Revolution operates three major investment funds with different focuses.
Revolution Ventures focuses on early-stage technology investments under $10 million. Revolution later announced their "Rise of the Rest" seed fund that included major investors from across multiple industries including Jeff Bezos and the Walton Family.
Revolution Growth makes growth-stage investments of $10 million and above, primarily in consumer technology businesses. It was created in 2011 with $450 million of initial capital. It typically invests in two to three new companies per year, mostly on the East Coast of the United States. Its major investments have included Sweetgreen, Bigcommerce, Optoro, Handybook, and PolicyGenius.
Profile investments in the collective Revolution portfolio include Zipcar, LivingSocial, Lolly Wolly Doodle, Waterfront Media, FedBid, Exclusive Resorts, Inspirato, Miraval, SparkPeople, Extend Health, BrainScope, AddThis, and other companies.
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