Michael Jones (entrepreneur)

In 2001, Jones founded Userplane, a Los Angeles-based company that provides instant messaging and other applications for companies such as Myspace and Honda. In 2006, Userplane was acquired by AOL.[6] In 2005, Jones began angel investing, primarily focused in the Los Angeles area. He has personally invested in more than 30 startups.[7] In 2008, Jones launched Tsavo Media, an online media network company which was later sold to Cybernex for $75 million.[8]

In 2010, Jones was hired as the CEO of Myspace where he was tasked with the company’s relaunch, one of the more high-profile turn-around challenges in the industry.[9] This included stabilizing a historically negative traffic and user trend, reducing the operational cost of the business by nearly 90 percent, and pivoting the product from its legacy as a social network to a social entertainment destination,[10] then selling the business on News Corp’s behalf to SpecificMedia.[11] Jones left Myspace in the summer of 2011.[12]

In 2011, Jones launched technology startup studio Science Inc.[13][14] Jones spent much of his time working with the companies’ CEOs and investors on strategy, growth and business development.[15] In 2011, Dollar Shave Club launched with investments from Science Inc. Science was Dollar Shave Club’s first investor, before the startup raised a $1 million seed round in March 2012.[16] Other startups that have come from Science include DogVacay, Hello Society, HomeHero, FameBit, Delicious, Playhaven, and Quarterly.[17][18][19] His exits in 2016 include Science portfolio companies HelloSociety (acquired by The New York Times),[20] FameBit (acquired by Google)[21] and Dollar Shave Club (acquired by Unilever).[22] In 2017, Science Inc. launched its initial coin offering for its blockchain-focused incubator, Science Blockchain. It was the first incubator to do so.[23] In February 2018, Science Inc. closed on $75 million for its venture fund with traditional limited partners, including a fund of funds, sovereign wealth funds, foundations, and other institutional investors.[24] The capital will be used to back breakaway companies coming out of Science's incubators, co-invest in deals that were not seeded by Science, and will be used to co-invest alongside other venture investors.[25]

In September 2017, Science Inc. announced Science Blockchain, an incubator focused on blockchain-based companies, funded through an Initial Coin Offering (ICO).[26][27] The offering falls within U.S. Securities and Exchange Commission (SEC) private placement exemptions from registration under Regulation D (SEC) and Regulation S.[28] The ICO only allows accredited investors to buy tokens in the ICO.[29] The ICO offering is being managed by The Argon Group, via its subsidiary Argon Investment Management LLC, under the Regulation D Section 506(c) exemption from registration issued by the U.S. Securities and Exchange Commission.[30]