Jake Baillie has helped to build TrueLocal into a true success, rocked Chicago, and is now heading to the world of funding Internet start-ups and incubation. Jake sent this email to my friend and SMO guru Lee Odden who also took this awesome shot at B.L.U.E.S.
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.
Interesting to see Jake’s next move come to life and the future of TrueLocal.