Congratulations to comScore Networks for being selected as one of 47 Technology Pioneers invited to present at the World Economic Forum at Davos, see the press release and the interview with Magid Abraham, CEO.
It is an amazing accomplishment and I'm honored to be associated with Gian, Magid, Greg and all the others that have made that company what it is today. I still remember the day back in July 1999 when my friend Mike Santer called me about it. I was still at Flatiron Partners and I was in the back of a limo returning from a company offsite. Mike said to me: "There is a company that you've got to meet. They are just forming now but you are going to want to do this deal. Trust me."
It turns out the "company" was really just two guys, Gian Fulgoni and Magid Abraham, and their powerpoint slides. But they were the two best guys on the planet to start the company that became comScore Networks. They had both been pioneers in the technology-enabled market research business, with Gian as the former CEO of Information Resources, Inc. (IRI) and Magid as an entrepreneur who had sold a business to IRI and then became its COO. Magid had left and done another company and he was in the process of selling that one when he and Gian teamed up again to start comScore.
This being Summer of 1999 they had their pick of firms from across the country in which to accept investment capital from. But they would have had their pick of firms to work with at any time, its just the valuation might have been a bit different. We were honored and excited when they accepted our term sheet and the syndicate became us and Accel. I am also a personal investor, option holder and Member of the Advisory Board and have engaged with them on various special projects over the years. Its been a great ride seeing it grow from Gian and Magid's powerpoint slides to the global market leader that it is today.
Congratulations to everyone there who made it happen and especially to Magid who as CEO led the company through the financial market and general economy turbulence of 2001 - 2003 to emerge out of that dark period stronger and healthier than when it started. A trip to Davos is a fitting reward for that effort...even though the company is just now at the tip of the iceburg relative to what it can become. I look forward to following it and benefiting along with everyone else from the market leadership that it provides.
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