RealTime IT News

Excite Veterans Launch European Internet Development Company

Two former executives of Excite International Monday launched Eos Internet Ventures, an Internet development company that is already working on a new online gourmet food business named Foodoo.

The two former Excite executives are Dafna Ciechanover, who was Excite's European business development and marketing director, and Jed Simmons, once managing director of Excite International and more recently a venture partner at the equity firm Botts & Company.

They are joined by three other founders: Delon Dotson, former director of engineering at Netscape Communications; Lisa Boom, a product manager at Lycos who launched launched the Web-based e-mail service Mailcity for Whowhere, and Peter Dailey, who led Lehman Brothers' European Communications and Media Group.

Eos Ventures says it plans to develop just a small number of Internet and digital media businesses, ensuring that each one get maximum attention and the best chance of success.

"We are not a churn and burn outfit," said Ciechanover, who emphasized that Eos Ventures would work only on concepts that have business models strong enough to stand the test of time.

Chief Executive Officer Jed Simmons said Eos Ventures wanted to work with new Internet businesses that can fundamentally change the way people do things at home or at work.

"To make that happen, we've pulled together global experts in the fields that drive success: technology, logistics and fulfillment, strategy and finance -- people with proven operating experience and success," said Simmons.

Early funding for the venture comes from Botts & Company, which has already made several investments in Internet and digital media companies.

Eos Ventures says it will leverage alliances with specialists in complementary fields such as recruitment and public relations. It has concluded a deal with Internet search firm e9c in the first of these alliances.