Studio9+

Peter Relan started YouWeb Incubator in early 2007. Albeit on a small investment raise, over the past six years, it has returned a higher net cash-on-cash multiple and IRR than any disclosed by venture capital funds of the same vintage (which includes funds invested in Twitter, Tumblr, Zynga, OMGPOP, and other large, successful investments: Spark Capital II, Foundry Venture Capital 2007, Union Square Ventures 2008, Avalon Ventures VIII).

YouWeb Incubator incubated dozens of ideas, out of which six successful companies were created in consumer entertainment, PaaS, and ed-tech, including OpenFeint, which GREE acquired for $104 million, and Spaceport, which Facebook acquired. The results for investors have been exceptional: 64.2% net IRR; 5.56x net cash-on-cash multiple (including realized and unrealized gains); and 3.48x realized net cash-on-cash multiple, with several companies still building value.

Studio 9+ was started to scale up YouWeb Incubator’s successful model. The core principles that made YouWeb Incubator successful are similar:

  • Select only superb quality technical entrepreneurs who can build products
  • Peter works closely with teams on product-market traction, and
  • Studio model that leverages in house services (finance, business and corporate development, etc.) across companies, so startups spend less time on operational overhead and can increase the focus on product development and strategy, allowing them to grow faster as part of the ecosystem.
  • However, in order to scale, Studio 9+ has modified elements of the YouWeb Incubator approach:
  • Expanded the team which has extensive industry experience, and offers a sustainable, multi-project platform with broad, hands-on help in startup fundamentals across all areas of company development
  • Work with small teams pursuing ideas in our areas of focus, rather than two EIRs each year before they have a business plan
  • Work with teams for nine months, rather than from cradle to exit in the case of the YouWeb Incubator EIRs

Studio9+


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