Kara Swisher

Recent Posts by Kara Swisher

Exclusive: Former AOLers Steve Case and Ted Leonsis Raising $400 Million Growth Equity Fund

Steve Case and Ted Leonsis are bringing their old AOL band back together once again, this time by raising a $400 million growth equity fund.

The pair, the legendary top execs who rocketed AOL to the top of the Internet business in the 1990s, are now making the rounds in New York and elsewhere to pitch their new investment vehicle, sources said.

The money raised will be part of an entity called Revolution Growth, which already exists within Case’s larger Washington, D.C.-based company called Revolution.

While both Leonsis and Case have done a lot of investing in the Web 2.0 space both together (Revolution Money) and apart (the Groupon and LivingSocial social buying sites, respectively), this is the first time they are creating a more formal investment partnership.

Another former AOL exec, Donn Davis is the third partner in Revolution Growth.

Sources said its focus will be on companies just beyond the venture stage to bring them to scale.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work