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	<title>BoomTown &#187; General Atlantic</title>
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		  <title>All Things Digital</title>
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		<title>Meet Peter Currie, Facebook's New Money Man (For Now)</title>
		<link>http://kara.allthingsd.com/20090401/meet-peter-currie-facebooks-new-money-man-for-now/</link>
		<comments>http://kara.allthingsd.com/20090401/meet-peter-currie-facebooks-new-money-man-for-now/#comments</comments>
		<pubDate>Wed, 01 Apr 2009 14:11:31 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=11511</guid>
		<description><![CDATA[Back in the heyday, Peter Currie was the money man to see in Silicon Valley.

As CFO of Netscape Communications, he led the famed browser start-up into history, as the first great Internet rocket ship, when it went public on Aug. 9, 1995. 

Rising to insane levels, the stock was ground zero of the Internet gold rush, despite the fact that it had no profits to speak of. But it did have a 23-year-old co-founder and tech wunderkind in Marc Andreessen and a growth trajectory that was astounding.

If you think it sounds somewhat similar to Facebook today--where Currie will now help out as temporary financial adviser after the social-networking site parted ways with its CFO, Gideon Yu, yesterday--you are correct.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2009/03/2516540711_ca5b22a4b6.jpg"><img src="http://kara.allthingsd.com/files/2009/03/2516540711_ca5b22a4b6-250x252.jpg" alt="2516540711_ca5b22a4b6" title="2516540711_ca5b22a4b6" width="250" height="252" class="alignright size-medium wp-image-11514" /></a></p>
<p>Back in the heyday, Peter Currie was the money man to see in Silicon Valley.</p>
<p>As CFO of Netscape Communications, he led the start-up into history, as the first great Internet rocket ship, when it went public on Aug. 9, 1995. </p>
<p>With the first consumer-friendly browser software, which made the Web easily understandable to the masses, Netscape was at the red-hot center of the nascent digital revolution.</p>
<p>&#8220;Wall Street went bonkers,&#8221; said one news reporter about the IPO, and the craziness did not stop for quite a while. </p>
<p>Rising to insane levels, the stock was ground zero of the Internet gold rush too, despite the fact that it had no profits to speak of. </p>
<p>But it did have a 23-year-old co-founder and tech wunderkind in Marc Andreessen, and a growth trajectory that was astounding.</p>
<p>If you think it sounds somewhat similar to Facebook today&#8211;where <a href="http://kara.allthingsd.com/20090331/former-netscape-cfo-peter-currie-will-be-new-facebook-financial-adviser-until-new-cfo-is-found/">Currie will now help out as temporary financial adviser</a> after the social-networking site <a href="http://kara.allthingsd.com/20090331/facebook-cfo-gideon-yu-out-fast-growing-social-network-says-its-doing-fine-financially/">parted ways with its CFO, Gideon Yu, yesterday, following mutual disagreements</a> and announced a search for a replacement&#8211;you are correct.</p>
<p>In that job, the 53-year-old Currie will be helping Facebook CEO and founder Mark Zuckerberg, 24, navigate&#8211;albeit temporarily&#8211;through some stormy economics seas on a journey that will hopefully end in an initial public offering.</p>
<p>The search for a new CFO will also involve Currie, obviously, and will be conducted by Jim Citrin of Spencer Stuart.</p>
<p>But until a new CFO is in place, Facebook&#8217;s quest still entails sorting out a substantive advertising monetization strategy while also keeping up its speedy growth rates and managing the high costs that mount with its popularity.</p>
<p>That certainly was Netscape&#8217;s major challenge, which it never met successfully and which was made worse by intense attacks from Microsoft (MSFT) on Netscape&#8217;s core browser business.</p>
<p>That eventually led to the antitrust trial against the software giant, even as Netscape saw its star fall dramatically.</p>
<p>It was sold to AOL in 1998 for $4 billion, a shadow of its bubble valuation, and is <a href="http://netscape.aol.com/">now more of a footnote</a> than an ongoing tech product (although the now-popular Mozilla browser is a direct descendant of Netscape).</p>
<p>In fact, in 2008, Time Warner (TWX) online unit AOL dropped its support for the Netscape browser and said it was no longer releasing new versions.</p>
<p>Still, a lot of former Netscape execs now hold other key jobs in the Web space.</p>
<p>Its investor relations exec, <a href="http://kara.allthingsd.com/20080718/sure-the-cbs-cnet-deal-seems-crazy-but-maybe-in-a-good-way/">Quincy Smith</a>, now heads up the digital arm of CBS (CBS), for example.</p>
<p>And Andreessen has started a number of companies and has transformed himself into an kind of elder statesman of Silicon Valley of late, as well as a <a href="http://kara.allthingsd.com/20090220/marc-andreessens-new-venture-fund-project-a">newly minted venture investor</a>.</p>
<p><a href="http://kara.allthingsd.com/files/2009/04/picture-2091.jpg"><img src="http://kara.allthingsd.com/files/2009/04/picture-2091.jpg" alt="picture-2091" title="picture-2091" width="197" height="150" class="alignleft size-full wp-image-11522" /></a></p>
<p>Andreessen, many sources said, was a shadow influence on Zuckerberg&#8217;s decisions related to Yu, with whom relations had gotten tense, and to bring in Currie (pictured here).</p>
<p>Currie is certainly a great choice, in terms of the close-knit tech sector&#8217;s respect and experience.</p>
<p>Currie is also unusually tall, aggressively avuncular and laid-back, loves Elvis and enjoys pranking reporters like BoomTown. (Case in point: He once tried to spread the rumor that I am short due to a medical condition.)</p>
<p>Now the president of Currie Capital, a private investment firm, he had previously worked at General Atlantic in private equity.</p>
<p>After Netscape, he was a partner and co-founder of the Barksdale Group, an early-stage venture capital firm.</p>
<p>Before Netscape, he was CFO of McCaw Cellular Communications and also worked at Morgan Stanley (MS).</p>
<p>Currie is also board-happy, serving as a director of a variety of tech firms, private and public. They have included CNET Networks, Critical Path, Clearwire (CLWR), Safeco, Ofoto, Tellme Networks and Zantaz, as well as Sun Microsystems (JAVA). </p>
<p>He has an MBA from Stanford University and went to Williams College.</p>
<p>Here is the <a href="http://kara.allthingsd.com/20070615/the-fight-for-mike/">video interview I did with Currie</a> and others at an event to support his friend and former Netscape exec <a href="http://kara.allthingsd.com/20090201/farewell-to-mike-homer">Mike Homer, who recently died of Creutzfeldt-Jakob disease</a> (Currie is at the 2:16-minute mark):</p>
<div class="video-wsj"><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={979509566}&playerid=4001&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="320" height="240" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div>
<p>(<em>Image of Netscape IPO T-shirt <a href="http://www.flickr.com/photos/intothefuzz/2516540711/">courtesy of intothefuzz on Flickr</a>.)</em></p>
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		<title>Genachowski to Head FCC&#8211;Maybe He Can Finally Fix My Broadband!</title>
		<link>http://kara.allthingsd.com/20090113/genachowski-to-head-fcc-maybe-he-can-finally-fix-my-broadband/</link>
		<comments>http://kara.allthingsd.com/20090113/genachowski-to-head-fcc-maybe-he-can-finally-fix-my-broadband/#comments</comments>
		<pubDate>Tue, 13 Jan 2009 10:02:02 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[D: All Things Digital]]></category>
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		<category><![CDATA[Kara Swisher]]></category>
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		<category><![CDATA[telecom]]></category>
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		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Barry Diller]]></category>
		<category><![CDATA[broadband]]></category>
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		<category><![CDATA[Julius Genachowski]]></category>
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		<guid isPermaLink="false">http://kara.allthingsd.com/?p=8398</guid>
		<description><![CDATA[Finally, someone who might actually understand the Internet will be taking charge of the thus-far lackadaisical government body that plays the largest role in spurring its growth.

It looks like Julius Genachowski will be tapped by President-elect Barack Obama to take on the always controversial job of chairman of the Federal Communications Commission. The news was reported in several places late yesterday, and sources with knowledge of the situation also confirmed the appointment to BoomTown.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2009/01/jg.jpg"><img src="http://kara.allthingsd.com/files/2009/01/jg-225x300.jpg" alt="" title="jg" width="225" height="300" class="alignright size-medium wp-image-8399" /></a></p>
<p>Finally, someone who might actually understand the Internet will be taking charge of the thus-far lackadaisical government body that plays the largest role in spurring its growth.</p>
<p>The <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/01/12/AR2009011203610.html">Washington Post is reporting that Julius Genachowski</a> (pictured here) will be tapped to take on the always controversial job of chairman of the Federal Communications Commission.</p>
<p>Sources with knowledge of the situation also confirmed the appointment, which will be announced in the next few days, to BoomTown.</p>
<p>Genachowski has previously worked for the FCC as its chief counsel under former FCC Chairman Reed Hundt. But he is better known to Silicon Valley as a longtime Internet exec at Barry Diller&#8217;s IAC/InterActiveCorp (IACI).</p>
<p>He is now a founder of a Washington, D.C.-based venture firm called LaunchBox Digital, which has invested in a <a href="http://www.launchboxdigital.com/portfolio.html">plethora of unusually trendy Web 2.0 companies</a>. </p>
<p>One of its investments, the social news aggregation service Socialmedian, was recently acquired by the German-based business networking site Xing for $7.5 million. </p>
<p>And Genachowski is also a co-founder and managing director of Rock Creek Ventures, another venture firm, and a special adviser at General Atlantic. </p>
<p>Perhaps most notably, he went to law school with President-Elect Barack Obama.</p>
<p>Thus, Genachowski worked the tech sector tirelessly for Obama&#8217;s election, along with organizing the campaign&#8217;s successful social-networking and online fund-raising campaign.</p>
<p>He was also clearly on the short list to be America&#8217;s first chief technology officer, which might be too light on policy-making and too heavy on pontificating for Genachowski&#8217;s tastes.</p>
<p>As top telecom and, really, Internet regulator, Genachowski will have a lot more power and even more on his plate, including the rocky shift from analog to digital television, now set to take place next month, as well as dealing with net neutrality and a range of other key Web issues.</p>
<p>But top of the agenda will likely be how to make real Obama&#8217;s promise to drastically improve broadband access across this nation and lowering prices.</p>
<p>The <a href="http://kara.allthingsd.com/20081230/the-promise-of-broadband-is-the-umpteenth-time-a-charm/">slow speeds and high costs are an appalling legacy</a> of Washington regulators and politicians, who have lived too long and too deep in the pockets of big telecom companies.</p>
<p>That has made the U.S. exactly what Softbank founder Masa Son once called in an interview I did with him at a <a href="http://allthingsd.com/d"><strong>D: All Things Digital</strong></a> conference: the &#8220;Third World of broadband.&#8221;</p>
<p>Hey, Julius, you&#8217;ll fix that, right?</p>
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		<title>Ross Levinsohn Speaks!</title>
		<link>http://kara.allthingsd.com/20071227/ross-levinsohn-speaks/</link>
		<comments>http://kara.allthingsd.com/20071227/ross-levinsohn-speaks/#comments</comments>
		<pubDate>Thu, 27 Dec 2007 08:55:53 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
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		<guid isPermaLink="false">http://kara.allthingsd.com/20071227/ross-levinsohn-speaks/</guid>
		<description><![CDATA[On our recent trip to sunny Southern California, we had a lively lunch in Brentwood with the ever-sassy Ross Levinsohn.
In the dullish panoply of Internet moguls, Levinsohn stands out as one of the more colorful characters, no small thing since he comes from a big company, News Corp. (owner of this site), where he played [...]]]></description>
			<content:encoded><![CDATA[<p>On our recent trip to sunny Southern California, we had a lively lunch in Brentwood with the ever-sassy Ross Levinsohn.</p>
<p>In the dullish panoply of Internet moguls, Levinsohn stands out as one of the more colorful characters, no small thing since he comes from a big company, News Corp. (owner of this site), where he played a big part in its on-the-cheap MySpace acquisition in 2005. </p>
<p>But big company no longer for Levinsohn!</p>
<p>Just before the holidays and four months after launching their digital media roll-up firm Velocity Investment Group with private equity firm General Atlantic, the former Fox Interactive Media president and his partner, former AOL head Jon Miller, announced a new and improved deal.</p>
<p>This time, it was a merger with ComVentures with its $1.5 billion in assets (with more fund raising to come) and a new name, <a href="http://www.velocityig.com">Velocity Interactive Group.</a> The investment focus of the new enterprise will be on digital media and communications.</p>
<p>Here&#8217;s Levinsohn talking about all that and more (excuse the noisy ladies about three minutes in):</p>
<div class="video-wsj"><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={1351358637}&playerid=4001&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="320" height="240" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div>
<p><span id="more-1179"></span></p>
<p>As part of the deal, ComVentures&#8217; partners David Britts, Keyur Patel and Roland Van der Meer will stay on with Levinsohn and Miller, while two other partners&#8211;Michael Rolnick and Jeb Miller&#8211;headed out the door.</p>
<p>But all these moving parts are not the point for Levinsohn, who thinks the investment dollars and expertise of the new firm will give it advantages over other investors seeking to dive into the still-dicey digital media space. </p>
<p>Indeed, Levinsohn&#8217;s Los Angeles location and familiarity with Hollywood is a plus, as the industry and its many players seek to figure out how to make the painful digital shift and find new monetization plans that will replace crumbling old-media businesses.</p>
<p>Whether making the big score is possible this early in the game remains to be seen, but Levinsohn seems ready to try.</p>
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