It is an exciting day for the Tubemogul team. I am thrilled myself.
When we started Wallstrip in 2006, there were tons of web video hosting platforms. Revver, Blip, YouTube, Crackle, Veoh….
It was a real chore to post the video at all these places and track the metrics. One day I was introduced to Brett Wilson at Tubemogul because I was impressed with the way our team was now collecting this hard data. You could post once to Tubemogul and they would take care of the rest. I called it Feedburner for Video.
I met with Brett Wilson (the founder) and invested. We became quick friends. I was bullish on web video, believed we were in inning one, loved the product, thought I could help and the price was pretty good (in hindsight). Brett is a wicked (good) entrepreneur. If there is a crease he plows through it. Web video is NOT the easiest place to make a living.
Sure enough, little has gone according to plan. In the beginning I helped a ton. We hustled around the country raising money. I asked Quincy (my boss at the time) at CBS to invest after they had bought Wallstrip. I believe i just said : ‘Quincy this is a no brainer’. I think he liked it but still yelled at me. I had dragged Brett across country on a red eye. I also told ‘Next New Networks'(was an active advisor) – now a YouTube acquisition – to quit making content and just buy Tubemogul. They liked Tubemogul and Brett but I think they yelled at me.
I asked Roger Ehremberg to meet Brett, he invested. I told Dick Costolo I found him the ‘Feedburner of Video’ and he invested. I put a group of friends together ‘pre Angel List’ – and created a single purpose LLC called Web Video Partners to invest with us.
Than 2008 happened and liquidity dried up. Web Video had ZERO chance.
Brett pulled the team through it all and somehow put a financing together and because prices remained so silly low, I could invest some more too. The original product was sold off, proving that so many great Companies evolve and dare I say ‘pivot’.
As a board member I am almost useless and as usual was caught trading, tweeting and falling asleep so they got the courage to ask me to leave. Brett traded up for Dick Costolo who became a little busy in 2010. Another great friend of mine Russ Fradin has taken Dick’s spot on the board (small world).
I am excited for the IPO, but Tubemogul is such a great Company, in a rapidly growing market. The IPO is not one of those year 1999 deals that needs to get done. It just will get done.
Today is about the hard work and the decisions and the journey and the intent.
Well done Brett and team.