I hear a lot about how difficult it is to launch a startup. So, when an entrepreneur in the midst of taking on one of the most arduous business challenges out there adds to it by taking on another significant challenge at the same time, it baffles me. That's how I view the news this morning that Seesmic founder and CEO Loic LeMeur is joining Wellington Partners as a Venture Partner. I'm confused.
I don't have any insight into LeMeur's daily schedule, but does he have that much time away from online video conversation startup Seesmic to help Wellington's 6 US IT portfolio companies with strategic planning, hiring and business development activities? I asked the
same question when Zillow CEO and co-founder Rich Barton took on an outside role in 2006 as his online real estate company was growing. Aren't these the things CEOs are supposed to be doing for their own companies?
The move could be spun as being a benefit to Seesmic because its leader now has the benefit of gaining exposure to more startups whose innovation and management practices can be brought back into Seesmic. But, at the same time, it could be spun in the other direction to show that
LeMeur doesn't have confidence in Seesmic and is looking for a fall back position in case it doesn't make it.
The truth is probably somewhere in the middle. For Wellington, LeMeur brings with him connections and experience that will be an asset to the German firm. But as Seesmic makes the crucial jump from closed beta to being open to the public over the next four to six weeks, LeMeur's attention would probably be better spent focusing 100% on his own company. - Joshua Jaffe
Joshua Jaffe is general manager of TechConfidential.com
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Hello, thank you for your interest. I understand you are confused and this is a communication issue.
My attention is 100% focused on Seesmic, actually even more with this.
With my network of startup friends and entrepreneurs, I am constantly being contacted by people who want to raise funds or help with their startups.
I used to be very active as a business angel and advisor of entrepreneurs, I invested in about 15 startups. I can no longer put any attention on this so I am just
-sending this flow to Wellington so it actually takes me no time
-helping them with their startups from now and then takes me a few hours a month and actually enriches my network so indirectly will help Seesmic too
-Germany is a very large market where I had not many connections so when Seesmic launches there, the Wellington network will help
So the net is that the public info on this "news" is confusing I agree. It is nothing more than me spending a few hours a month meeting people and extending my own network, or sending Wellington intros to the entrepreneurs contacting me for raising funds etc.
Let me know if you need any more information.
Best
Loic