What is the real potential of Buddy?, page-3

So what is driving the "Instos and Fundies that are all over this from Asia and here Oz and NZ"?

What is driving the smart money into Buddy?

Well, for starters, stating the obvious - smart money follows smart money:


Who is Rick Borenstein?


Bio: Rick Borenstein has been an entrepreneur and a venture capitalist for the past 30 plus years. Rick was President of Wells Fargo Investment Company (a bank owned SBIC) at the end of his 10 year stint at Wells Fargo Bank. The fund he ran produced double digit multiples of invested capital for its limited partners. He left Wells and started 5 companies in quick succession culminating in a CAD/CAM software company named I.M.S.I. which he took public in 1987.

Also in 1987, Rick co-founded Sequoia Partners, a “boutique” information technology M&A firm operating primarily on the West Coast. Together with his partner, Sequoia represented over 250 software and services firms for sale over the ensuing 25 years. In addition, as managing member of Bonanza Management, LLC, Rick organized and syndicated two dozen venture investments with the financial support of many of the successful entrepreneurs (AKA “alumni”) who benefited from Sequoia’s services. Over 70% of these seed investments resulted in successful exits to larger public companies.

For the past few years, Rick has participated in the venture world as a Special Limited Partner of Transmedia Capital LLC, an early stage venture capital company specializing in digital media. In addition, he has been an active mentor to the startups in Kicklabs, a technology company accelerator based in San Francisco. Part of Rick’s role at TMC is to act as an advisor to many of the portfolio companies, a role that has expanded into Board membership at three startups. He also regularly advises companies referred to him by larger venture firms he has provided services to in the past.

Rick graduated from the University of Michigan (LS&A) and received his MBA from Harvard Business School. Rick has recently served on the Board of Trustees of National Public Radio and currently serves on the Board of CFE as well as two additional non-profit boards. Rick lives in Marin County with his wife Leilani. Source

He's also been/is an early investor in Facebook, LinkedIn, Pandora, Livefyre, Baidu... and now Buddy - check out the list of 6 (ie-those 5 companies plus BUDDY): Source

What an A-Grade CEO we have coming in Rick Borenstein - a brilliant business pedigree, perfect experience and top silicon valley based network to guide and open the right doors for Buddy. Plus as mentioned - he's also a Special Limited Partner of Transmedia Capital, one of Buddy's backers. Source

Transmedia Capital was the lead investor in the first funding round for Buddy in May 2012. Now 3 years later, after being there at the start - Rick Borenstein is the incoming Chairman, so he must think highly of Buddy - AND WHAT A TESTIMONY TO WHERE HE THINKS BUDDY WILL GO!

Continuing the theme of following the smart money - one of our other backers is


The following is from a Dr Zuess post - thanks/sorry Dr: Source):
"AF Square was news to me. I wasn't aware that they've backed so many household names.
Rapgenius - $1B
Uber - $50B
Dropbox - $10B
Spotify - $8.5B
Lyft - $2.5B
Warby Parker - $1.2B
FAB - failed after reaching $1B

I'll settle for coming close to Uber and it's $50B valuation

POK's Buddy at the bottom of the graphic.


(End of Dr. Zuess quote)

But for me, the most famous backer/smart money/(DEFACTO PARTNER?) behind Buddy is...