Subject: SeventySix Capital Portfolio Companies in the News
From: "SeventySix Capital" <[email-masked]>
To: <[email-masked]>
Date: Thu, 2 Jul 2015 13:50:36 -0400 (EDT)

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STARTUP HEALTH ON BLOOMBERG TV
Steven Krein, CEO of SeventySix Capital's portfolio company, StartUp Health, was
 on Bloomberg TV discussing health care in the digital world.

Steven Krein- StartUp Health CEO
ABOUT STARTUP HEALTH [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JQI4t2ZixokvOdgFl_zQfjZOJqGUJGXea8G4VPadicL1mKiMhDFuNg5N5xy6WldxpgBN9UOd6t4-asY2piMVgrDIrMUnv9ASSRkTA4kIZ4sIaGEu4KDQ42_Gi7nr8j4Nqg==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]

StartUp Health is a global startup platform accelerating innovation in health and
wellness. They are on a mission to help 1,000 health startups to reimagine and transform
healthcare over the next decade. StartUp Health has portfolio companies in 10 countries
and 52 cities world-wide. StartUp Health's strategic partners and investors include
AARP, AON, Aurora Health Care, California Healthcare Foundation, Steve Case, Cleveland
Clinic, Conifer Health Solutions, Mark Cuban, Esther Dyson, Roger Ehrenberg, Brad
Feld, GE Ventures, Jerry Levin, Kaiser Permanente Ventures, Robert Wood Johnson 
Foundation, SeventySix Capital and Stericycle.
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SEVENTYSIX CAPITAL PORTFOLIO COMPANY THRIVE COMMERCE LAUNCHES [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JTpeCTRS0RBMo8x8-E2qjcBqVJLg4_jIikQEFxdtGwdKD-vsNmAubvi5n5EAfsWebiBD31--byC6uYBElBNR5JBDYGQi63iMHs2JALdop8eIU3td3IcZRSLu4eF87YsEFQ==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]

SCOTT BOHRER HAS SOME ADVICE FOR BUILDING A TEAM [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JWrDD6H1q7QnU8lJXv4VQkQntoL8xbcI95AVJgXyt6NmLcV332_ShUZ5kaw94G8_LHSHn4cgsRlvK5mIpBDrhENojJeP4OKiCRuYKbqfVJElCIOEm8tUwqE0r4UxQ7Jav1IofEjgl-z9qw7hGMBhqdyExsjJTa7rvLBikmJIOBWRV6mkcA6-wENeDQaikMgWTIrlkklNcPi-g0-8GPEgLto=&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]

The cofounder and CEO of Thrive Commerce is taking what he learned in the VC world
and applying it to his own startup.

By Rayce Rollins, [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JWrDD6H1q7QnU8lJXv4VQkQntoL8xbcI95AVJgXyt6NmLcV332_ShUZ5kaw94G8_LHSHn4cgsRlvK5mIpBDrhENojJeP4OKiCRuYKbqfVJElCIOEm8tUwqE0r4UxQ7Jav1IofEjgl-z9qw7hGMBhqdyExsjJTa7rvLBikmJIOBWRV6mkcA6-wENeDQaikMgWTIrlkklNcPi-g0-8GPEgLto=&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]
Technical.ly Philly [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JWrDD6H1q7QnU8lJXv4VQkQntoL8xbcI95AVJgXyt6NmLcV332_ShUZ5kaw94G8_LHSHn4cgsRlvK5mIpBDrhENojJeP4OKiCRuYKbqfVJElCIOEm8tUwqE0r4UxQ7Jav1IofEjgl-z9qw7hGMBhqdyExsjJTa7rvLBikmJIOBWRV6mkcA6-wENeDQaikMgWTIrlkklNcPi-g0-8GPEgLto=&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]

Great companies get the right people on the bus, and then they figure out where 
to go.

That way of thinking helps a company achieve greatness, according to Jim Collins,
bestselling author of Good To Great. Whereas most startups lead with a defined strategy
and then retrofit the team around a particular approach, the great ones (companies
characterized by high returns on invested capital, impact and endurance) build the
core team first, and then everything else (i.e. the strategy and minimum viable 
product) is developed afterwards.

Focusing on the core team first is an approach that resonates with Scott Bohrer,
 cofounder and CEO of Thrive Commerce, a deal discovery platform for online retailers.

Bohrer spent the better part of the last seven years at SeventySix Capital investing
in tech startups and watching teams grow. He understands the importance of the team
building and the essential role that it plays when launching a new venture. "In 
startups, the team is everything," said Bohrer. "Business plans, competition and
 market conditions are always changing. It's the team that is able to adapt and 
execute best that often wins."

After investing in more than 20 founding teams, Scott got the urge to build his 
own and go after the $1.5 billion digital coupon market pioneered by RetailMeNot.
We sat down with Bohrer to discuss his approach to team building, and how he managed
to get the right people on the proverbial bus at Thrive Commerce.

FISHING FOR COFOUNDERS

When most entrepreneurs think of cofounders, they immediately think of friends -
 people with shared values that they've known for a while and fundamentally trust.
While Bohrer agrees with the friendship approach to cofounding, he believes that
 it lacks context.

"You want your cofounders to be friends you've worked with before," said Bohrer.
 "You need confidence that they can execute."

The work experience part is important because it's the only way to validate someone's
work ethic. As a venture capitalist, Bohrer has seen the camaraderie and productivity
of teams like StartUp Health and ReverbNation (SeventySix Capital portfolio companies)
first hand. "They were great teams because they've worked together for seven-plus
years on project after project," said Bohrer.

Bohrer's first cofounder at Thrive Commerce was Justin Chapman. The two met at SeventySix
Capital, where Chapman did a six-month internship at the venture firm as a student
at Drexel University. Justin went on the lead product development at one of the 
firm's portfolio companies, before launching his own startup called FeedbackLoop,
a music subscription service and crowdfunding platform for new artist. The cofounders'
prior work experience gave them the confidence to pursue this new venture together.
Justin is currently the director of product development at Thrive Commerce.

Much of what Thrive Commerce does involves retail integrations. Bohrer knew that
 he needed a proven hitter on his core team with domain experience and specialized
knowledge in affiliate marketing.

The only problem was that no one in Scott's immediate network stood out as the clear-cut
candidate.

In order to find the right person, Scott hired three recruiters to do a nationwide
search. "Recruiting a core team member is not like filling a regular job opening,"
said Bohrer. "The stakes are much higher, so you have to search far and wide to 
find the right person."

The right person was Andy Schon.

Schon came in with enough domain experience to write the textbook. He was an early
employee and former VP of engineering at Linkshare (acquired by Rakuten for $425
 million). He filled the same role at Adknowledge, a global player in the digital
marketing space. The systems that Schon helped to engineer at these two companies
processed more than $36 billion in online transactions.

With Schon on board, and the founding team now in place, Bohrer was ready to focus
on the minimum viable product.

THIRD-PARTY VENDORS IN THE CORE TEAM

Bohrer wanted to contract a professional firm to build the minimum viable product.
He felt like collaborating with a third party was a better and more scalable option
than hiring developers.

Whenever a third party handles a critical component of your product offering (similar
to how Netflix uses Amazon Web Service for cloud computing), you don't want to approach
it like an outsourcer. It is far more effective to engross the third party into 
the core team and build a long-term, highly collaborative work relationship, Bohrer
said.

That's why he chose Arcweb, a Philadelphia-based product design and development 
company that specializes in enterprise technology. Not only are both companies local,
but Bohrer has known Chris Cera, CEO of Arcweb, for years and the two have worked
together in the past.

Thrive Commerce went live earlier this month as Bohrer continues to build out his
team. He recently hired Scott Stuebner to run business development, and he is actively
looking to build up the sales team. It will be interesting to see where Bohrer takes
Thrive Commerce next, and the people he brings on the bus to help him get there.
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SeventySix Capital [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JR4rN07k7nPxTyUky901OsZFaBISqU5WnUSIYqU0j6Bu1-Qe5KqJH-w1KSt_oJC6HlvOp6jwOzKHX43ay8mKbgDEQLk62t9jzpXaWWoS-8Ux2Ogs7yPUOoLPiHzluhjOvA==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]

Since 1999, Wayne Kimmel [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JQI4t2ZixokvDKpTwHw5Mm1sTpzaXUW7dMBFWagNCRs1RXcjED1Jgh85l1RHsU3gDzkMBE1miQAJju1_ZsuaCVqHN0I1tmrcHUc9ycG_OmODMlzaTx2-NB-gnQpfwoH9yw==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]
and his partners have backed passionate, smart and nice entrepreneurs of startup
 and early stage game-changing businesses.

SeventySix Capital's top exits include:

1. SeamlessWeb - acquired by ARAMARK now public as GrubHub (NYSE: GRUB)
2. Take Care Health Systems - acquired by Walgreens
3. NutriSystem (NASDAQ: NTRI) - top performing stock in the U.S. for 5 consecutive
years.
Intel, IBM and Yahoo! have also acquired SeventySix Capital's portfolio companies.
Some of SeventySix Capital's current portfolio companies include: Dwolla [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JWrDD6H1q7Qn_fdwiCwsPSfGOwxS372wZOZtfXEE45oW6Rbx0flfqjWUivkJ_wFjwQWbam1Pcj3dpRrB0sAJpglhVwCHVJjMpdxgpoOmVyq7pGn6xtibPg8=&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==],
Indiegogo [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JaWfwH541uPS6xQuyDejitpNqEEHrO0RhTd_ah05GBbNwSamR7Mnkh2Ymczd-thYIgktEzQqSxPJ1I42r5YQA3TSI5J3OJY4VvC-XriCqQsCHAEh0kwlrMsMbM2gqY4NSg==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==],
ReverbNation [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JWrDD6H1q7QnipbehgnFc-POM6B889cmjELZVpewWiWb7HWcuZsq-oRhNSXhfxXiyfciOZNwND42eLsIQ2hvsHKSi3klrBy6XRiaalKZbF26vmajgaJ9ewc=&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==],
StartUp Health [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JQI4t2ZixokvOdgFl_zQfjZOJqGUJGXea8G4VPadicL1mKiMhDFuNg5N5xy6WldxpgBN9UOd6t4-asY2piMVgrDIrMUnv9ASSRkTA4kIZ4sIaGEu4KDQ42_Gi7nr8j4Nqg==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==],
CareCam Health Systems [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JUDGPHTaWa8ceqnDE1G0GB2ZidVZPbrpe-eJdMZXINm4Zqt43eFBZ9vkCEws_ZPnlMwy_4g7McdT4u9QzDO0M3D0k3mQGsbgZycpbUto_2YDtgQTtUDPXo2lGOqn-4H-PA==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==]
and Whistle Sports [http://r20.rs6.net/tn.jsp?f=001lESIg17eFLqa06gizUpHUBfOFsjl_1IA4cAE0fS0tfNW4SKutP18JVR7CtEkN8EdBr9WWDiqQiZ-U-PZPJ0U_-jKKZfxieEP5cZLw-3dzwmWDTS3aLAOS26R_iCG8P4SSD-oqVqDdorPTxNRtVq_D3_nGNgujBJn6TMMLf5l2myTC1evXE8c4g==&c=7jPrAMs4EFEUeNE2PE5NBw8fYnO5MH0-bSlUu9RPWg92J9Djv9NoDg==&ch=Vk8dDUhJI0okNmXqaDOyX8xHRP2LP3K6ADHtFQiwy694fMGkDHt2kQ==].
SeventySix Capital's partners are extremely active in the entrepreneurial and non-profit
communities around the world.
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