Spurred on by my recent Lucky7 post on how capital efficient Bazaarvoice was on its path to IPO, two friends sent me great posts this week on entrepreneurship and risk. And I guess it seems appropriate that I'm writing this post from Edinburgh, Scotland here at TED Global. Edinburgh is, after all, one of the birthplaces of capitalism. Adam Smith, author of The Wealth of Nations, and other prominent figures were born here. And speaking of capitalism, the former Prime Minister of Greece and the poster child for the European economic crisis, George Papandreou's, TED Global talk is already live. I found his talk sobering and, for all the controversy surrounding him, it felt rawly authentic to me.
Today, Compare Metrics announced their Series A funding from Austin Ventures. You can read about it in the Austin American-Statesman article or the Compare Metricspress release. The company is still largely in stealth mode, as you can see from their website. This is something we talked about since I backed the company as an angel investor and Garrett Eastham, co-founder and CEO, read my Lucky7 post on whether to be stealthy or not and took it to heart.
I'm very proud of the team in reaching this major milestone, and I look forward to continuing to serve as the independent Chairman of the Board. If you read aboutGarrett's background, you'll see that he was meant to found this company. Whenever I'm investing, I always value whether or not the founders are destined for their business background wise. Garrett is one of those guys, and I hope you get the chance to meet him soon and experience his passion first-hand. His leadership team is also stellar and I've had the pleasure of working with Chris Richter (VP of Sales), Lisa Roberts (VP of Marketing), and Joel Knight (VP of Client Services) as leaders in the early years at Bazaarvoice. Garrett also worked at Bazaarvoice and was one of our best.
I'm going to greatly expand on this topic, so I'll keep this post as short as possible. I could write a book on this post alone. For now, I want to quickly get down my thoughts on the five most critical ingredients to build a big company - one that changes the world and creates a lot of jobs and economic impact. Here are the ingredients: