We are very excited today to announce our investment in Bamboom Labs (now Aereo). This opportunity brings together all things one could ask for in a venture investment – a great team, a big, disruptive idea, a large market, and a cool web site.
Bamboom was started by Chet Kanojia, an entrepreneur I had the great fortune to invest in and get to know for many years at Navic Networks. Navic was an outstanding company bought by Microsoft in 2008 in a very successful outcome. They were one of the few positive, large exits in the interactive television space, and Chet’s leadership was a big part of that. Chet’s last round of capital came just after the bubble burst in 2001, and he managed it brilliantly until our ultimate exit. Joining Chet at Bamboom as CTO is Joe Lipowski. Joe is a brilliant technologist and RF engineer we’ve known for a long time as well. We backed the spin out of Celiant from Lucent, and Joe was the CTO at Celiant (acquired by Andrew for $470MM). When Chet began to talk to us about his idea, it was a no-brainer to put the two together. The team around these guys is equally talented and truly best in class.
The idea is quite simple yet technically complex and brilliant. Bamboom wants to enable customers to experience broadcast TV, over the Internet, to any device, without all of the headaches associated with accessing it today. They have combined brilliant RF engineering with wonderful software design to create an incredible consumer experience. More details will emerge as we roll out of closed beta, but suffice to say it looks fantastic. This is what a next generation television experience should look like. Fully integrated, portable, native social integration, rich interactivity. As consumers shift television consumption online, we will see new content, commerce and advertising opportunities that we can only begin to imagine.
We are delighted to partner with Chet and our co-investors on the journey!