Web 2.0 Panel: Consumating v. Pluck
November 2, 2005
The Web 2.0 panel last was well attended and I think about 50% of the attendees had a grasp of the topic. Hopefully it was useful for the MBA students - I finally got to meet Ben Brown in person so that was a plus. The most interesting thing I got out of the panel was the stark contrast between Ben and David’s businesses. Ben is the consummate guy with an idea, some time, a server and passion making an interesting business in true Web 2.0 fashion. David is the classic entrepreneur turned VC turned entrepreneur who started Pluck in what I might characterize as somewhat Web 1.0 fashion. 
Ben has not raised outside capital, he has had a few stops and starts, but now he is really honed in on an interesting business model that has attracted the attention of Monster.com as well as the private equity community. I think this really exemplifies what is interesting about developing ‘businesses’ today versus six years ago. You really can get in the game with very little resources. Is Consumating going to be the next Monster.com? I doubt it, but I think there is a good chance that Ben could have a great 1-9MM exit without any additional funding.
David left Austin Ventures (who seed funded Pluck) to start the company; the business has had a few stops and starts, but now they seem to be focused on a couple of business models that have attracted a total of $10MM in private equity. I have no doubt that Pluck will be successful, but it is clearly not what I think of as unique about the entrepreneurial environment today. To be successful Pluck will need to approach the success of Monster.com - Mayfield and Austin Ventures will expect a 10x return ($100MM sale or IPO). Obviously this model works, but it is not was is interesting about the ‘new order of Web 2.0.’
Technorati Tags: pluck, consumating, david+panos, ben+brown, web20, lecorbusier
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