espite being coastally challenged (currently living in Philadelphia), Josh has been an active entrepreneur and investor in the Internet industry since its commercialization. In 1992, while he was a student at the Wharton School of the University of Pennsylvania, Josh co-founded Infonautics Corporation – an Internet information company. In 1996, Infonautics went public on the NASDAQ stock exchange.
As Philadelphia gets ready for Halloween and the first snowstorm of the year, it's a reminder that holiday season is right around the corner. And the approaching holiday season can only mean one thing -- it's almost time for First Round Capital's annual holiday video. Our team is hard at work producing this year's video (and definitely feeling the pressure)...but in the meantime, I thought I'd share some of our favorite moments from the making of last year's holiday video.
I've previously shared some of my thoughts on ecommerce. Specifically, that there is the potential for massive disruption in ecommerce due to the explosion in interesting technologies and opportunities such as mobile, social networks, user generated content, virtual goods, etc.
One of the areas that First Round Capital has spent a lot of time looking at is subscription commerce. We've seen that consumers crave curation -- and are willing to pay for a monthly subscription to receive items (sight unseen) that are curated by trusted experts/brands. Two companies in our portfolio, Birchbox and Foodzie, are pioneers of this model...delivering a "wow experience" on a monthly basis to tens of thousands of happy customers.
Today I'm excited to announce that First Round Capital has invested in a new company: Kiwi Crate. Kiwi Crate is a monthly service that delivers monthly craft projects that spark creativity and curiosity for kids aged 3-6. As a parent myself, I love spending time doing hands-on activities with my kids -- but rarely have the time (or talent) to invent new projects and shop for the supplies. As a Kiwi Crate subscriber you don't need to worry about that. You'll receive a monthly package with several projects that you can do with your kids without preparation or hassle.
If you have young kids and are interested in trying out Kiwi Crate, feel free to use promo code FLYKIWIS3 for 50% off the first 3 months of a monthly subscription or FLYKIWIG15 for $15 off any gift subscription.
As I look at the growth in subscription commerce, I'm reminded how far we've come since this Everyone Loves Raymond episode aired: