Welcome Perceptual Networks

Anyone who has been on the Internet for a while remembers HotOrNot -- it has been called "one of the most viral product launchs in Internet History."  And they were one of the first "freemium" companies that showed how you can monetize a free service.

When HotOrNot launched I was still at Half.com -- and we were launching a cool tool called the Half.com Price Patrol.  This was a browser plug-in that monitored your Internet browsing -- and anytime you went to a product page on a shopping site, it alerted you to a cheaper price at Half.com.  The technology was built by a company called ClickTheButton, which was founded by Cheyenne Ehrlich.

Today, I'm super-excited to announce that we've invested in Perceptual Networks -- a company founded by Jim Young (a co-founder of HotOrNot) and Cheyenne Ehrlich (the founder of ClickTheButton).  Even more exciting (to me) is the fact that both Jim and Cheyenee moved to Philadelphia -- choosing to locate themselves (and their company) in Philly.

Both Jim and Cheyenne are in my "300 baud club" -- a group of people who have been actively using, playing, and creating online since the days of the 300 baud modem.  And I'm not the only one who is excited by them teaming up.  Indeed, we were joined in this investment round by a "who's who" of angel investors including founders of Youtube, Paypal, Bebo, Demand Media, Delicious, and many others.  

Perceptual Networks is hard at work developing a suite of products that make it easier for people to find "the best people to connect with" and hopes to launch soon.  I'm thrilled that we continue to find "the best people to invest in" -- and am excited to welcome Jim and Cheyenne to the First Round Capital family. 

More about Perceptual Networks can be found here and here.