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Brightspark 3.0 launches Collectionbuddy
Brightspark Ventures departed from their traditional VC roots yesterday and launched Collectionbuddy through Brightspark 3.0 Inc. Collectionbuddy is a social network that enables collectors to capture, catalog and share their collectibles; interact with other enthusiasts; and discover new collectibles to acquire.
“Brightspark remains very focused on early stage Internet and software companies,” said Tony Davis, Co-CEO of Brightspark 3.0. “However, we are convinced that the best way to create significant value for our shareholders is for us to return to our serial-entrepreneur roots by starting and running new Internet businesses like Collectionbuddy. It’s exciting to see the launch of our first Brightspark 3.0 business.”
Brightspark 3.0’s business model is to create and run Internet businesses – call it self-incubation. Launched last year, version 3.0 is a departure from the traditional Venture Capital model previously followed by Brightspark for investing its funds. Instead of providing funding for early stage businesses, Brightspark 3.0 is a private corporation that focuses on setting up and running new Internet businesses.