Earlier this week Split Rock Partners did a
press release regarding my entrepreneur in residence (EIR) with the
firm. The first question friends of mine have asked is “What exactly is
an entrepreneur in residence?” Wikipedia
highlights an
EIR as:
The EIR role is often designed to fill one of three primary functions:
- To launch a new entrepreneurial venture, often with the backing of
the parent firm or organization;
- To assist in the evaluation of
potential investments where the entrepreneur has a particular
expertise; or
- To provide functional expertise to assist with an
existing investment.
That is a great recap of what I will be doing with Split Rock. The
partners have given me a place to office and the opportunity to get and
give early feedback around potential business ventures.
A couple of other items about EIR roles. There are other “in residence”
programs. For example, artist in
residence seems to be
a fairly well established. I’ve also seen writer in
residence as well
as journalist in
residence pop
up. Lastly, just to be clear, the EIR role is a partnership. I’m not an
employee at the firm, and this isn’t a “job”. It is a formal
collaboration and a vehicle for us to work together.
I am excited to work with the partners at Split Rock and will make the
most of such a unique opportunity!
Jamie Thingelstad joins Split Rock Partners as an Entrepreneur in Residence
Minneapolis, MN, July 27 – Split Rock Partners, a venture capital firm
focused on emerging software and internet services companies, is pleased
to announce that Jamie Thingelstad, former Vice President, Chief
Technology Officer of the Wall Street Journal Digital Network, the
consumer division of Dow Jones & Company and Chief Technology Officer of
MarketWatch, Inc., is affiliated with the firm as an Entrepreneur in
Residence (“EIR”).
Mr. Thingelstad was founding Chief Technology Officer of BigCharts, Inc.
through its acquisition by MarketWatch in 1999. BigCharts was a pioneer
in delivering real-time financial information via the web, and provided
financial tools offered by the majority of top financial services firms
at the time of the acquisition.
MarketWatch was subsequently acquired by Dow Jones, and Mr. Thingelstad
continued to take on progressively larger responsibilities within the
Dow Jones organization. In his last role, he served as Chief Technology
Officer of the Wall Street Journal Digital Network, a leading provider
of financial and investment news through sites sites such as the Wall
Street Journal, MarketWatch and Barrons. During his tenure, the network
properties grew substantially in audience, and introduced several new
product offerings. Prior to that Mr. Thingelstad was Chief Technology
Officer for the Enterprise Media Group of Dow Jones where he oversaw the
development efforts for Dow Jones Newswires, Dow Jones Indexes and other
business services offered by the company.
“Jamie is an accomplished entrepreneur and brings great insight into the
intersection of the internet, new media, and the implications for
next-generation business models,” said Michael Gorman, a Managing
Director at Split Rock Partners. “As a pioneer in digital media, he is
intimately familiar with the unique challenges and opportunities
presented by the convergence of new technologies, consumer behavior,
advertiser objectives and industry economics. We look forward to
applying his insights to the process of identifying the most promising
opportunities taking advantage of these dynamic trends.”
As an EIR with Split Rock Partners, Mr. Thingelstad will be evaluating
opportunities defining the next generation of digital media, the
increasing opportunities in social applications on the web as well as
the continuous evolution of the web as a platform.
“I am excited to explore how new technologies can build upon the
foundation of traditional media, while creating new opportunities to
meet the needs of consumers and businesses in unanticipated ways,” said
Mr. Thingelstad. “We are still at an early stage in the transformation
of digital content production, delivery and consumption, and in that
transformation lies opportunity. I am pleased to partner with the Split
Rock team given their track record of partnering with entrepreneurs to
translate the potential of breakthrough ideas into leading companies.”
_About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, seeks
emerging opportunities in healthcare, software, and Internet services
primarily in the Upper Midwest and West Coast. Split Rock was formed in
June 2004 by the teams responsible for healthcare, software and Internet
services investments for St. Paul Venture Capital (SPVC) and continues
to manage SPVC’s portfolio in those sectors. Split Rock closed a $275
million inaugural fund in April of 2005, and a $300 million second fund
in May, 2008. Representative companies backed by Split Rock’s team
include Atritech, Disc Dynamics, EBR, eBureau, Entellus, Evalve,
Gearworks, Internet Broadcasting, HireRight, LowerMyBills.com,
MyNewPlace, QuinStreet, and Tornier. Additional information about the
firm can be found at www.splitrock.com._
See this release on
MarketWatch.com.