The first startup accelerator in the United States emerged in 1996. Since then, it has invested in more than 125 companies and participated in more than 40 IPOs (Initial Public Offerings) and acquisitions. That is idealwhich has a long history in the world of innovation and betting on new ventures.
The Idealab story
Idealab was founded in 1996 by Bill Big, with the aim of founding and operating pioneering technology companies. The company used a business structure to test ideas and turn them into businesses, attracting human and financial capital to bring them to market.
Many of these Idealab-accelerated companies were among them precursor of new business models. CitySearch, for example, established the category of local online community directories. eToys showed tremendous potential for online retail and became one of the most recognizable brands in the early days of e-commerce.
Idealab keeps researching technological limits. New models to improve the search experience are currently on the rise within Idealab. But the accelerator goes far beyond the Internet and supports companies with cutting-edge technologies in the areas of mobility, robotics and renewable energies, among other things.
The accelerator also continues to partner with leading venture capital firms. risky and other strategic investors to provide the resources to increase the potential of these companies.
In addition to financing, Idealab offers other types of services to accelerate startupssuch as office space, graphic design, marketing, financial consulting, human resources, accounting, as well as consulting on strategy, branding and corporate structure.
Business accelerated by Idealab
- City search: A pioneering online local travel guide company, it originated in Pasadena, California and quickly spread across the United States. The company merged with TicketMaster in 1998 and went public on Nasdaq. It is currently part of IAC.
- eToys: Founded in 1997, the company quickly became one of the most recognizable brands on the internet. eToys went public in 1999 and was later acquired by KB Toys.
- Picasa: The digital photo organizer for computers was introduced in 2002 with the Hello application, a peer-to-peer application that allows users to share and discuss their photo collections. The company was bought by Google in 2004.
- goto.com: pioneered the concept of paid search and created the business model that has enabled some of the web’s most successful businesses to thrive. It opened its capital in 1999 and changed its name to Overture Services in 2001. Two years later, Yahoo! for $1.6 billion.