Exclusive: Ex-Yahoos–Plus Chief Yahoo Jerry Yang–in New Morado Ventures Fund (That's Spanish for Purple, Natch)

A new $10 million micro-venture fund, led by former Yahoo top engineering exec Ash Patel–called Morado Ventures and funded by a group largely made up of ex-Yahoos–is about to launch, according to sources close to the situation. Expected limited partners in Morado, which means “purple” in Spanish, include former Yahoo CEO Terry Semel, former COO Dan Rosensweig and former sales head Greg Coleman. Ex-Yahoo President Sue Decker is also considering investing, said sources. Also on deck: Yahoo’s two founders Jerry Yang and David Filo, both of whom are still at the company.

Exclusive: CBS Digital CEO Smith to Leave to Start a Silicon Valley Advisory Firm (First Customer? CBS)

Quincy Smith, the high-profile CEO of CBS Interactive, is planning on leaving his job at the media giant in January to start an advisory firm in Silicon Valley, according to several sources. But, in an interesting twist, Smith will remain an adviser to CBS under a multiyear contract, sources added, making it his first client. Apparently, Smith will focus intently on authentication issues for the company.
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CBS Interactive/CNET Re-Org: The Complete Memo

CBS paid $1.8 billion for CNET last summer, and today it is dealing with the consequences: A re-org and layoffs. CBS execs won’t release a total for the number of people fired, so news will be coming out in piecemeal fashion for some time. In the meantime, here’s CBS Interactive’s new corporate structure, detailed in an internal memo distributed late today.