AOL/Verizon Completes Spinout Of CrunchBase Funded By Emergence Capital

CrunchBase, the database of startups, other tech companies and the people who work in them that was originally developed alongside TechCrunch, is spinning..

Sourced through Scoop.it from: techcrunch.com

CrunchBase, the database of startups, other tech companies and the people who work in them that was originally developed alongside TechCrunch, is spinning out  from AOL / Verizon.  Emergence Capital is leading an investment in the newly-independent company, while AOL/Verizon — owner of TechCrunch – will retain a stake in the business.  The independent company will be led by Jager McConnell, who had been the VP of product at Salesforce. Matt Kaufman will remain as head of operations at CrunchBase. The two announced the news on stage this morning at Disrupt, TechCrunch’s big conference in San Francisco, alongside TechCrunch COO Ned Desmond, and Santi Subotovsky of Emergence. (McConnell is pictured above.)  The idea is that the new independence and investment will give CrunchBase a more solid footing to develop its business in enterprise data. The main site today has around 2 million unique visitors per month, and it has grown by about 50 percent year-on-year. Its database of companies and people is around 860,000.  The value of AOL/Verizon’s remaining stake in CrunchBase is not being disclosed, and neither is the exact value of the investment being made by Emergence. From what we have heard, AOL’s stake remains “significant” but Emergence is now the controlling investor. Mark Roszkowski, SVP, head of corporate development at AOL, will serve on the board of the stand-alone company

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