Why the Father of the Consumer Internet Invests in Ecommerce

 

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You might remember Steve Case. He was CEO of America Online and became a billionaire by selling subscription Internet access.

Now, Case, 55, has come out of semiretirement to create Revolution, a Washington, D.C., venture capital fund that he says will become the largest startup investor east of the Mississippi River.

Case is no buzzword-dropping futurist. He’s practical, with a sharp eye for Main Street’s needs and, he says, “big ideas that are still small companies.” So it’s significant that his fund has bet most heavily so far on ecommerce startups. Its largest investment, $40 million, went to BigCommerce, a company that brings “Amazon-like capabilities” to any merchant. The pool of potential customers is huge: 95% of retail establishments in the U.S. consist of a single store. Read more...

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