Dan Ciporin, the former chairman and CEO of Shopping.com and a private investor in Israeli start-ups, has joined Canaan Partners as a venture partner. He will work with Canaan's global teams to identify technology trends and pursue investment opportunities, particularly in the Internet and digital media sectors.
Before founding Shopping.com, Ciporin was head of MasterCard's global debit services business, where his extensive product insight, management and marketing skills were instrumental in establishing the company's leadership in the global electronic debit market. Most recently, he was chairman of the LGiLab, a joint initiative funding early-stage Israeli Internet startups co-founded by Gemini Israel Funds and Lightspeed Venture Partners. He will give up his post as chairman of the company and become a consultant. He also serves on the board of directors for VistaPrint Ltd. (Nasdaq:VPRT) and Primedia Inc. (NYSE:PRM), as well as several privately-held companies in the digital media space. In the past year, he has made private investments in Vringo Ltd. and Peer39 Inc..
Ciporin said, "We are in the beginning phases of a tectonic shift in the way media content is produced, consumed, delivered and sold, and the opportunities for entrepreneurs and investors alike in this shift are enormous. As a top-tier venture firm with more than 20 years of successful investment experience, Canaan has long been at the forefront of recognizing and investing in new, transformational companies and trends. I look forward to working with the Canaan team to continue that successful record of investment in this new digital frontier, especially as it unfolds in Israel and the Boston-New York-Washington corridor."
Caanan Partners venture partner Izhar Shay added that the fund’s successful record in investment in Internet companies such as Doubleclick and Match.com, together with current investments in Internet start-ups, demonstrated that its commitment to digital media. “Ciporin’s joining the firm will help us make investments and building leading Internet companies in both Israel and the US. I’m sure that Israel has immense potential is building Internet companies.”
Canaan Partners was founded in 1987 and manages $2.4 billion. It is now managing its seventh fund. The fund’s investment focus is high-tech, cleantech, and the life sciences. Headquartered in Connecticut, the firm as offices in California, Israel and India.
Published by Globes [online], Israel business news - www.globes.co.il - on March 26, 2007
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