Zango founder prepares comeback, emerges at BigDoor |
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Zango founder prepares comeback, emerges at BigDoor
Smith
Zango founder Keith Smith is jumping back into the startup arena with a new online advertising company called BigDoor Media. The Bellevue startup is operating in stealth mode, and Smith isn't commenting about it.
But a filing with the Securities and Exchange Commission indicates that the company has raised $250,000 in startup capital from Andy Sack, a former Zango board member who now runs the angel investment group Founder's Co-op.
Smith said today that we'd have to wait until next year to get details on the new startup. But his LinkedIn profile provides some clues about his next move.
"We are building a completely new, automated content monetization platform for online publishers," writes Smith, who is listed as founder and CEO of BigDoor. "If you have a website, a social game, or some cool online content - we want to help you make more money."
Sack confirmed that Founder's Co-op recently invested, but he declined to go into details about the funding or BigDoor's business. He also confirmed that Jeff Malek -- an early employee at Zango who once served as vice president of engineering -- also is working at BigDoor.
Sack also expressed confidence in Smith's business acumen.
"Keith has great experience, he's a great leader and I think he will build a great company," said Sack.
Smith has certainly taken some lumps over the years.
Zango -- formerly 180 Solutions -- was routinely criticized earlier this decade for the tactics it used to install ad-serving software on consumers' computers. Those complaints culminated in 2006 with the company agreeing to a $3 million settlement with Federal Trade Commission.
Zango never really regained its footing after that, and by April of this year it was sold for pennies on the dollar. Smith -- who guided the company for nearly a decade, growing it to more than 230 employees and raising $40 million from Spectrum Equity-- also was forced to file for personal bankruptcy earlier this year.
With BigDoor, Smith appears to be positioning for a possible comeback -- one that will certainly be interesting to watch.
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