I just received the email about Jake Baillie leaving TrueLocal for a boutique venture capital company.
Guess we are going to need a new member on the arbitrage panel. He will be missed in the space and hope he still attends the conferences.
His letter read:
I'm both pleased and saddened to announce my departure from TrueLocal to you. Last week the opportunity to do something that I've always wanted to do was presented to me - manage a small internet fund that incubates and provides funding to seed-stage new media and technology companies.
On January 1, myself and several employees from TrueLocal will be
forming STN Labs, which will do exactly that.
As managing director, my role will be to evaluate, fund, and help these
small and inventive companies become self-sufficient. We're starting out
with a stable of existing investments which will be announced shortly,
and beginning in April, we will evaluate new opportunities. We're
looking to take on several entrepreneurs in residence in the short-term,
as well as providing investments to companies in the 50K-500K range.
Throughout the remainder of December and January, I will be
transitioning out of TrueLocal. Please feel free to contact me directly
if you have any further questions or concerns about my transition. In
the new year, I'll be sending out another email with my new contact
information and more details on STN Labs.
Thanks for all of your support of TrueLocal, and here's to a safe and
prosperous new year!