Michael Jones (born August 13, 1975) is an American entrepreneur, investor and CEO of Science Inc."Mike Jones Launches Technology Studio, Science, In LA With $10M From Eric Schmidt And Others" Techcrunch, November 16, 2011"The next big thing coming out of Silicon Beach? Mobile everything" USA Today, July 14, 2015 He was named after his uncle, Olympic gold medalist Michael Schoettle.
Education Jones attended Lake Oswego High School and has a bachelor of arts in international business and marketing from the University of Oregon, where he was named Student Entrepreneur of the Year in 1997."University of Oregon Alumni Association" UOAlumni.com, April 26, 2014"Take a tour of former Myspace CEO and tech incubator Mike Jones' Malibu mansion" Business Insider, May 8th, 2015
Business career Early career In 2001, Jones founded Userplane, a Los Angeles-based company that provides instant messaging and other applications for companies such as Myspace and Honda. In 2006, Userplane was acquired by AOL."AOL snaps up IM developer Userplane" CNET, August 14th, 2006 In 2005, Jones began angel investing, primarily focused in the Los Angeles area. He has personally invested in more than 30 startups."Former MySpace CEO Michael Jones launches $30M VC fund to back Indian mobile startups" TechCircle India, July 2015, 2015 In 2008, Jones launched Tsavo Media, an online media network company which was later sold to Cybernex for $75 million."Former MySpace CEO launches a startup studio" CNET, November 11th, 2014
Myspace In 2010, Jones was hired as the CEO of Myspace where he was tasked with the company’s relaunch, one of the more high-profile turn-around challenges in the industry."Saving Myspace: CEO Mike Jones Talks About Rethink, Relaunch and–Fingers Crossed–Resurgence" AllThingsD, October 27th, 2010 This included stabilizing a historically negative traffic and user trend, reducing the operational cost of the business by nearly 90 percent, and pivoting the product from its legacy as a social network to a social entertainment destination,"For Myspace, a Redesign to Entice Generation Y" The New York Times, October 27th, 2010 then selling the business on News Corp’s behalf to SpecificMedia."Exclusive: Myspace to Be Sold to Specific Media for $35 Million" AllThingsD, June 29th, 2011 Jones left Myspace in the summer of 2011."Myspace Acquired, CEO Out: Email From Mike Jones To Employees" TechCrunch, June 29th, 2011
Science Inc. In 2011, Jones launched technology startup studio Science Inc."Former MySpace CEO creates startup incubator called Science, invests in former MySpace execs" VentureBeat, November 16th, 2011"The Most Innovative Social Media Companies 2013" Fast Company, February 13th, 2013 Jones spent much of his time working with the companies’ CEOs and investors on strategy, growth and business development."15 Questions with Mike Jones" CNN Money, May 13, 2015 In 2011, Dollar Shave Club launched with investments from Science Inc. Science was Dollar Shave Club’s first investor, before the startup raised a $1 million seed round in March 2012."Science Incubator Turns Up the Heat With New Services" LA Business Journal, June 28, 2015
Other startups that have come from Science include Liquid Death, where Jones sits on the board; DogVacay (acquired by Rover); HelloSociety (acquired by The New York Times); HomeHero; FameBit (acquired by Google and rebranded as YouTube BrandConnect); Delicious; Playhaven (acquired by RockYou); Kyoku (acquired by TheFeed); and Quarterly."Science Inc. to buy Social Bookmarking Site Delicious" Social Tech, May 8, 2014"Science Inc. Acquires Mobile Ad Network PlayHaven From Upsight" TechCrunch, September 24, 2014"Science Ventures III Investment Themes " LinkedIn, October 6, 2020A Former Netflix Creative Director just got $1.6 million from Big Names in Tech for Liquid Death, which is Water in a Tallboy Can Business Insider, May 7, 2019 His exits in 2016 included Science portfolio companies HelloSociety (acquired by The New York Times), and Dollar Shave Club (acquired by Unilever)."Unilever Buys Dollar Shave Club for $1 Billion" Fortune, July 19, 2016
In 2017, Science Inc. launched its initial coin offering for its blockchain-focused incubator, Science Blockchain. It was the first incubator to do so."A Venture Firm Turns to Coin Offering for Incubator Gambit" Wall Street Journal, August 2, 2017
In February 2018, Science Inc. closed on $75 million for its venture fund with traditional limited partners, including a fund of funds, sovereign wealth funds, foundations, and other institutional investors."Science, the L.A.-based incubator, just closed on $75 million for its first real venture fund" TechCrunch, February 2, 2018 The capital will be used to back breakaway companies coming out of Science's incubators, co-invest in deals that were not seeded by Science, and will be used to co-invest alongside other venture investors.
Science Blockchain In September 2017, Science Inc. announced Science Blockchain, an incubator focused on blockchain-based companies, funded through an initial coin offering (ICO)."Why Science is turning to ICOs for its incubator" TechCrunch, August 4, 2017 The offering falls within U.S. Securities and Exchange Commission (SEC) private placement exemptions from registration under Regulation D (SEC) and Regulation S. The ICO only allows accredited investors to buy tokens in the ICO. The ICO offering is being managed by The Argon Group, via its subsidiary Argon Investment Management LLC, under the Regulation D Section 506(c) exemption from registration issued by the U.S. Securities and Exchange Commission.
Public speaking and media Jones has appeared as a speaker and interview guest, including at Startup UCLA’s event "A Fireside Chat with Mike Jones" (2017).
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