A few days ago, I had reported that Yahoo! Executive VP, Network Division Mr. Jeff Weiner was leaving Yahoo! and was moving on to greener pastures.
Now it is official, that Mr. Weiner has quit Yahoo! And joined ACCEL. In an official announcement, ACCEL Partners and Greylock Partners, two highly successful venture capitalist firms have confirmed that Jeff Weiner has accepted his new role as an Executive in Residence for both firms.
Mr. Weiner will evenly divide his time between the two firms advising leadership on their existing technology portfolios as well as consulting on new investment opportunities.
According to David Sze (General Partner, Greylock), Ă˘â‚¬Ĺ“JeffĂ˘â‚¬â„˘s operational experience in scaling products, teams and revenue will help Greylock enhance our capabilities and add value to our investmentsĂ˘â‚¬Âť
According to Theresia Ranzetta (General Partner, Accel), Ă˘â‚¬Ĺ“We are thrilled to have access to JeffĂ˘â‚¬â„˘s perspective on web product strategy and operations. Additionally, we look forward to leveraging JeffĂ˘â‚¬â„˘s expertise regarding the convergence of media and technology for existing and future Accel portfolio properties.Ă˘â‚¬Âť
Here is the Official Announcement:
Accel Partners and Greylock Partners, leading venture capital firms, today jointly announced the appointment of Jeff Weiner as an Executive in Residence with both firms. His new role becomes effective in early September 2008.
Weiner served in key leadership roles at Yahoo! for the past seven years, most recently as the Executive Vice President of Yahoo!'s Network Division. In this position he led a team of over 3,000 employees, managing products reaching over 500 million consumers, and overseeing a P&L responsible for roughly $3 billion in annual revenue. During his tenure, Weiner helped drive the NetworkĂ˘â‚¬â„˘s Open and Social strategy and expansion of the companyĂ˘â‚¬â„˘s category-leading consumer web products, including Yahoo.com and My Yahoo!; Communications and Community products including Yahoo! Mail, Yahoo! Messenger, Yahoo! Groups, and Flickr; Search products including Yahoo! Web Search, Yahoo! Answers, Yahoo! Shopping and Yahoo! Local; and Media, including Yahoo! Finance, Yahoo! News, Yahoo! Sports and Yahoo! Entertainment properties.
Prior to his Network role, Weiner was part of the Search leadership team that directed the acquisition and integration of Inktomi, AltaVista, FAST as well as the development of Yahoo! Search Technology. He helped launch the company's suite of social search products – including Yahoo! Answers – and led the acquisitions of del.icio.us and Flickr. He was also part of the leadership team formed to help revitalize the company's Search Marketing efforts. Additionally, Weiner helped establish a technology incubation group which later evolved into Yahoo!'s corporate-wide Advanced Product Team. From 2001 to 2002, Weiner oversaw Corporate Development at Yahoo!, where he was responsible for the development and modification of overall corporate and individual business unit strategy and M&A.
Weiner is also actively involved in the non-profit sector, with specific focus on leveraging digital capabilities to broaden the reach and scale of high impact causes. He currently serves on the Board of Directors of DonorsChoose.org and Malaria No More.
Weiner will advise the leadership teams of existing Accel and Greylock consumer technology portfolio companies, and will also work closely with the firmĂ˘â‚¬â„˘s partners to evaluate new investment opportunities. Ă˘â‚¬Ĺ“JeffĂ˘â‚¬â„˘s operational experience in scaling products, teams and revenue will help Greylock enhance our capabilities and add value to our investments,Ă˘â‚¬Âť said David Sze, General Partner at Greylock.
Weiner brings outstanding leadership experience and a deep knowledge of the consumer internet and digital media sector to his new role. Ă˘â‚¬Ĺ“We are thrilled to have access to JeffĂ˘â‚¬â„˘s perspective on web product strategy and operations,Ă˘â‚¬Âť said Theresia Ranzetta, General Partner at Accel. Ă˘â‚¬Ĺ“Additionally, we look forward to leveraging JeffĂ˘â‚¬â„˘s expertise regarding the convergence of media and technology for existing and future Accel portfolio properties.Ă˘â‚¬Âť
Weiner will divide his time equally between the Accel and Greylock Silicon Valley offices.