Valleywag
Kleiner Perkins Caufield & Byers kicked out partner Russ Siegelman, according to a trusted source. The former Microsoft employee, who once reported directly to Bill Gates, won't be part of KPCB's next fund. Was the bigshot VC firm sick of seeing its property Friendster languish under Siegelman's partnership? Or was he just bumped out to make room for another hotshot?
Friendster isn't Siegelman's first hot product. At Microsoft in the 90s, he was employee #1 of the MSN division (which, granted, is already dying a decade later). Then he launched the snappy magazine Slate (which was hemorraging money until its sale to the Washington Post).
So if our source is right, the burnout master will be off Friendster's board and job-hunting soon. Watch for him moving into biotech, energy, or mobile apps.
Bio: Team: Russell Siegelman [Kleiner Perkins]
Comments
Well, let's face it. Aside from Doerr (and possibly Ted Schlein), all KP has left are a bunch of pimadonnas who have missed some gargantuan opportunities. Seriously, look at their backgrounds and "notable" investments. Russ Siegelman was only one of their many non-performers, so it's about time. You have to begin to wonder how some of these partners are selected. With much of the old guard gone, they must be praying that John Doerr doesn't leave the firm. When he does, there will be dark days at the once King of the Hill.
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