Report: MySpace's DeWolfe contemplates new online venture |
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Report: MySpace's DeWolfe contemplates new online venture
MySpace co-founder and University of Washington grad Chris DeWolfe is contemplating a new online venture that could pull in as much as $100 million in financing, reports TechCrunch.
TechCrunch declined to report on the specific industry segment that DeWolfe is attacking, but they did say that there's strong interest in the Internet executive's next move. Apparently, the idea includes rolling up a vertical niche on the Intenet -- hence the large amounts of capital being discussed.
The new venture follows DeWolfe's departure from the CEO post at MySpace earlier this year.
It will certainly be interesting to see what DeWolfe -- who was born in Portland and helped negotiate MySpace's sale to News Corp. for $580 million -- does next.
MySpace still has a number of connections to the Seattle area, with an engineering office located here. The company's CTO -- Aber Whitcomb -- also is a UW grad and native of the Pacific Northwest. Current CEO Owen Van Natta is a former Amazon.com executive.
Meanwhile, several former executives at Fox Interactive Media -- the News Corp. division that now runs MySpace -- are kicking around a new stealthy startup in Seattle called 5to1.com.
John Cook is co-founder of TechFlash. Follow on Twitter @johnhcook.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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