Revolution LLC

Revolution LLC is an American investment firm based in Washington, D.C., founded in 2005 by Steve Case, Donn Davis, and Tige Savage.[1] Notable investments include LivingSocial and Zipcar.

Revolution LLC
IndustryVenture capital
Founded2005
FounderSteve Case
Donn Davis
Tige Savage
HeadquartersWashington, D.C., United States
Key people
Chairman and CEO:
Steve Case
Websitewww.revolution.com

Foundation
Main article: Steve Case

Revolution LLC was founded in 2005 by Steve Case, a well-known entrepreneur and a co-founder of America Online (AOL), the first Internet company in the world to go public along with Donn Davis and Tige Savage.[1][2] After negotiating the merger of AOL and Time Warner, a transaction that today remains the largest merger in business history,[3] AOL Time Warner floundered and Case resigned from his post in January 2003, with the merger often cited as one of the worst mergers ever.[4] After leaving the AOL Time Warner board in 2005, Case co-found venture capital firm, Revolution LLC, where he is the chairman and CEO.[5]

Investment funds

Revolution operates three major investment funds with different focuses.

Revolution Ventures focuses on early-stage technology investments under $10 million.[6] Revolution later announced their "Rise of the Rest" seed fund that included major investors from across multiple industries including Jeff Bezos and the Walton Family[7].

Revolution Growth makes growth-stage investments of $10 million and above, primarily in consumer technology businesses. It was created in 2011 with $450 million of initial capital.[8] It typically invests in two to three new companies per year, mostly on the East Coast of the United States.[9] Its major investments have included Sweetgreen,[10] Bigcommerce,[11] Optoro,[12] Handybook,[13] and PolicyGenius.[14]

Revolution Places makes real estate and hospitality investments, usually between $25 and $50 million. It is usually the majority shareholder in each portfolio company.[15]

Profile investments in the collective Revolution portfolio include Zipcar, LivingSocial, Lolly Wolly Doodle, Waterfront Media, FedBid, Exclusive Resorts, Inspirato, Miraval, SparkPeople, Extend Health, BrainScope, AddThis, BenchPrep,[16] Framebridge,[17] SpareFoot,[18] OrderUp,[19] and Custom Ink.[20]

References
  1. "Revolution LLC: Private Company Information". BusinessWeek. Retrieved 2008-04-21.
  2. "Steve Case at IGNITION". BusinessInsider. Retrieved 2013-03-01.
  3. "AOL and Time Warner Announce Merger". New York Times. 2012-01-10. Retrieved 2013-03-01.
  4. Final farewell to worst deal in history - AOL-Time Warner
  5. "Steve Case's Rise of the Rest tour is returning to Louisville". www.bizjournals.com. Retrieved 2018-06-21.
  6. "Revolution Team". Revolution. Retrieved 2013-03-01.
  7. https://www.nytimes.com/2017/12/04/business/dealbook/midwest-start-ups.html
  8. "Steve Case's Revolution Raises $450M Growth Fund". BusinessWeek. Retrieved 2013-03-01.
  9. "Steve Case Fund". Mashable. Retrieved 2013-03-01.
  10. Alden, William (4 December 2014). "Revolution Fund Invests in Sweetgreen Salad Chain". The New York Times. Retrieved 16 November 2014.
  11. Nassim Khadem (26 July 2013). "Start-up Bigcommerce gets 'biggest ever' $US40m capital hit from Revolution Growth". BRW. Retrieved 16 November 2014.
  12. Grant, Rebecca (17 July 2013). "Revolution Growth Fund invests $23.5M in Optoro to find unwanted goods a home". VentureBeat. Retrieved 16 November 2014.
  13. Lawler, Ryan (11 June 2014). "On-Demand Home Services Startup Handybook Raises $30M From Steve Case's Revolution Growth". TechCrunch. Retrieved 16 November 2014.
  14. Shieber, Jonathan. "PolicyGenius Raises $15 Million For Its Online Price Comparison Insurance Brokerage". TechCrunch. Retrieved 2016-02-01.
  15. Marr, Kendra (2007-08-03). "Revolution Places". Washington Post. Retrieved 2013-03-01.
  16. "Revolution". crunchbase. Retrieved 2019-06-14.
  17. "SWaN & Legend, NEA, Revolution Ventures invest $9 mln in Framebridge". PE Hub. 2016-04-21. Retrieved 2019-06-14.
  18. "SpareFoot". crunchbase. Retrieved 2019-06-14.
  19. "OrderUP". cruchbase. Retrieved 2019-06-14.
  20. "Custom Ink". crunchbase.
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