Photo thanks to webmoxy
Internet marketing guru Jake Baillie has announced that he will be leaving TrueLocal to start a new internet fund and small business incubator:
I‚Äôm both pleased and saddened to announce my departure from TrueLocal to you. Last week the opportunity to do something that I‚Äôve 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‚Äôre starting out with a stable of existing investments which will be announced shortly, and beginning in April, we will evaluate new opportunities. We‚Äôre 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‚Äôll be sending out another email with my new contact information and more details on STN Labs.
This has got to be a huge loss for TrueLocal, which has experienced significant growth and success the past year.