Jim Scheinman has joined Charles River Ventures as an entrepreneur-in-residence, focused on the consumer Internet, social networking and social media sectors. He previously was co-founder of Bebo, where he also served as vice president of business development and sales. Before that, he was vice president of business development and sales for Friendster.
Charles River Ventures (CRV), one of the nation's leading early-stage venture capital firms, today announced that Jim Scheinman has joined the firm as an entrepreneur in residence (EIR). Scheinman will work with CRV to uncover new investments in the consumer Internet, social networking and social media sectors, while working with the firm's portfolio companies and evaluating opportunities for his own next start-up venture. Scheinman brings a wealth of experience as one of the early pioneers of the social networking phenomenon at both Friendster and Bebo.
“Jim's reputation precedes him as one of the Valley's most innovative and connected entrepreneurs,” said George Zachary, general partner, Charles River Ventures. “As one of the groundbreakers in digital and social media, Jim's insight will be a tremendous asset to the CRV team and our growing portfolio of Web 2.0 companies.” Charles River Venture's portfolio includes such Web 2.0 companies as Twitter, Geni, SocialMedia, Conduit Labs and Maxthon.
Scheinman comes to CRV from Bebo where he was a co-founder, and served as vice president of business development and sales. Prior to Bebo, Scheinman was one of the first employees and head of business development and sales at the first social networking site, Friendster. There he created the concept of “engagement marketing” within social networking sites, mobilizing the idea of enabling consumers to become brand advocates of engaging content and to spread the brands' messages amongst their network of friends. He is a frequent speaker at leading conferences on the subject of social networking and engagement marketing, and provides regular comment on these subjects to wide range of major publications, TV and radio.
“We're still at an early life stage of social networking and the consumer Internet space is exploding with unique opportunities to monetize social and digital media,” said Scheinman. “While it was an extremely difficult decision for me to leave Bebo after three years of taking the company from an unknown entity to the third largest social networking site behind MySpace and Facebook, I'm an early-stage entrepreneur at heart and the time was right for me to look to the next opportunity in the start-up world. After evaluating many great opportunities, I am delighted to have chosen CRV because it's one of the top firms in the Valley and nationwide, especially in the consumer Internet/social networking space, and the team here is a group of very smart, successful and great people.”
Prior to his Internet career, Scheinman practiced corporate and intellectual property law at a leading Silicon Valley law firm. He went on to serve as senior vice president of business development at NBC Internet, a $2 billion public company of NBC & GE before joining Friendster. He has a BSc in Neuropsychology from Duke University and earned a Juris Doctor at the University of California Davis School of Law.
About Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation's oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 10 years, CRV funds have been ranked among the industry's top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com.