As a Partner at Venrock in New York, David focuses on early stage venture investing in internet and digital media companies. His active investments include Media6Degrees, Smartling and Crunchyroll. Previously, Pakman was the CEO of eMusic, the world’s leading digital retailer of independent music, second only to iTunes in number of downloads sold. After buying eMusic from Vivendi Universal, in the three years that Pakman ran it, he grew the business by more than 850%, from $7M in revenues to more than $68M. Pakman transformed the business from an obscure also-ran with 50,000 subscribers to the second largest digital music retailer in the world, with more than 400,000 subscribers and more than 12% market share.
Prior to joining eMusic, Pakman was Co-Founder and President of Business Development and Public Policy at Myplay, Inc., the company he co-founded in 1999 in Redwood City, CA, that introduced the “digital music locker” and pioneered the locker category. In 2001, Myplay was sold to Bertelsmann’s ecommerce Group. Before Myplay, he was Vice President at N2K Entertainment, which created the first digital music download service. He also was the co-creator of Apple Computer’s Music Group.
Pakman is a graduate of and a member of the Board of Overseers at University of Pennsylvania’s School of Engineering and Applied Science with a degree in Computer Science Engineering and is an avid musician and songwriter. He serves on the Board of Trustees of ITHAKA, a not-for-profit organization dedicated to helping the academic community take full advantage of rapidly advancing information and networking technologies and holds a board seat with the New York Venture Capital Association.
Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues the eight-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. Having invested $2.5 billion in nearly 450 companies resulting in more than 125 IPOs in 41 years, Venrock’s investment returns place it among the top tier venture capital firms that have achieved consistently superior performance. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, athenahealth, Centocor, Check Point Software, DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel, Ironwood, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock’s website at www.venrock.com.
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Twitter Inc.’s market debut will be the most anticipated initial public offering since Facebook Inc. listed last year, and the microblogging service is making sure to avoid some of its rival’s pitfalls.
On Thursday, June 30, Kelly Reeves sent out an invitation to her 1,900 followers on Twitter to join her on Turntable.fm—a new, social media website that lets users share songs with friends and strangers while publicly celebrating each other’s musical tastes. “DJing in the Shameless POP! Room,” Reeves wrote. “Come hang out. Now playing *NSYNC.”
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