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Angel Investor (Individual)
bizstone.com

Investments

36

Portfolio Exits

6

About Biz Stone

Biz Stone is a co-founder and Creative Director of Twitter, Inc and also helped to create and launch Xanga, Blogger, Odeo, and Obvious. He has published two books about blogging, Blogging: Genius Strategies for Instant Web Content (New Riders, 2002) and Who Let The Blogs Out? (St Martins, 2004). Stone is a resident of Berkeley, California. He graduated from Wellesley High School in Wellesley, Massachusetts.

Headquarters Location

California,

United States

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Latest Biz Stone News

Twitter co-founder Biz Stone joins board of audiovisual startup Chroma

Jan 27, 2023

Chroma , a startup working to build a new type of audiovisual entertainment specifically for mobile devices, is now adding a Twitter co-founder to its board. The company announced today that Twitter and Medium co-founder Biz Stone, previously an angel investor in Chroma alongside Pinterest’s founders, will join the company’s board of directors to contribute his expertise in areas like design, product development, filmmaking, and scaling brands. An early Google employee, Stone worked on the Blogger team after its acquisition, ahead of helping co-found Twitter in 2006. He remained with Twitter for a number of years as the company grew to become adopted by millions of users worldwide. In 2011 , as Twitter hit the 100 million active users mark, the entrepreneur left to pursue new projects with Obvious Corporation , a startup incubator and investment vehicle that had included fellow Twitter co-founder Evan Williams and former Twitter exec Jason Goldman. The venture most notably incubated the blogging platform Medium . However, in 2013, Stone and the others shifted their focus to individual startups. For Stone, that led to the creation of Jelly, a Q&A app and search engine that was later sold to Pinterest. In 2017, Stone publicly announced he was returning to Twitter to lead strategic vision, brand, and culture, where he remained until 2021. Over the years, Stone has also backed a number of companies, including Square, Pinterest, Slack, Nest, Intercom, and Beyond Meat, where he now chairs the Nominating and Governance Committee. Stone said what initially appealed to him about the Swedish audiovisual company Chroma was its CEO and founder, Andreas Pihlström, who he met by way of an introduction from Pinterest co-founder Evan Sharp. Pihlström had previously worked as a creative director, design advisor, designer, and prototyper at Pinterest, Beats Music, and VSCO. The two hit it off and began to have monthly calls after Stone’s angel investment. “It’s really about finding people I enjoy working with and spending time with — and bouncing ideas back and forth,” said Stone. The Chroma team had a range of ideas but ultimately landed on audiovisual technologies and their intersection with music and sound. As Stone explains, the idea was about changing the nature of music and sound and making it a more interactive and immersive experience. In practice, this involves touchable, dynamic visuals that create a sound-driven digital space that users can explore and interact with for a variety of purposes. The debut product to test this concept came out last year, through a partnership with music artist Arca to create an iOS app called Lux Aeterna. The app offers an audiovisual experience for exploring music from the Venezuelan producer, DJ, singer, and songwriter in a “meditative digital space,” the company said. Users fly through a virtual world, interacting with her music and sounds as part of the journey. But this doesn’t show the full potential of the technology, which could have a range of use cases — some of which Chroma is now exploring — that demonstrate other ways users could interact with audio and sound, whether for play, meditation, relaxation, music composition, and more. While the company plans to first launch a product on mobile devices, Stone believes the technology could become even more interesting when and if Apple releases its own VR/AR headset. “I think it’ll lend itself really well to the metaverse equipment when that’s more ubiquitous. But I can also see it on my Apple TV. I would love to have it on there. Anywhere there’s great sound and visuals,” he added. “Mobile [first] is just because that’s what everybody has.” Founded in 2021, Stockholm-based Chroma last year raised $5.4 million in seed funding (5.1 million euros) from VC firms Singular and Adjacent, Berlin’s angel syndicate SpotiAngels, as well as other individual investors, including Stone and Pinterest co-founders Evan Sharp and Ben Silbermann. Chroma had previously raised 1.6 million euros in pre-seed funding. As a board member, Stone expects to be meeting with the startup several times per month, in addition to the actual board meetings. He says that with his angel investments, he typically considers himself an advisor — meaning he’s open to founder phone calls but won’t call the company unless they want him to. Chroma did. “These guys are brimming with different ideas [at Chroma]. So, the challenge has been to narrow it down because it’s a small team and to get something done they need to not do a whole bunch of stuff,” Stone said. For now, the focus is on adding a sensory experience to sound. “The bigger picture is like this idea of ‘sound play’ . . . it’s interactive. It’s changing the nature music so that it’s richer in a 3D way, but it’s also visual and . . . you can do things to it,” hinted Stone. The board position isn’t the only thing Stone has in the works, as the entrepreneur says he’s been “noodling” on something else for himself with a small group of people. So far, the project is self-funded and hasn’t officially been launched, so he’s keeping the details quiet. However, Stone says he’s interested particularly in the emerging AI space and using AI as a tool, in particular. He says he hasn’t been particularly interested in some of the other newer tech trends, like web3 or some aspects of the metaverse. “The [web3] culture doesn’t appeal to me. There’s something off about it to me,” Stone explained. As for the metaverse: “I don’t want a dystopian future where kids are up in the room with a scuba mask on all day. I don’t want that to happen. That doesn’t seem good to me,” he adds. “Biz brings a wealth of experience in technology and design to our table. Together, we’ll pave a path to the future of sound: combining excellence in the digital space with forward thinking to shift the paradigm of music,” said Pihlström in a statement.

Biz Stone Investments

36 Investments

Biz Stone has made 36 investments. Their latest investment was in Kapu as part of their Seed VC on December 12, 2022.

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Biz Stone Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/5/2022

Seed VC

Kapu

$8M

Yes

10

8/30/2022

Series A

Oxwash

$11.72M

No

2

5/6/2022

Seed VC

Chroma

$5.4M

Yes

3

3/8/2022

Seed VC

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$99M

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10

12/17/2021

Seed VC

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$99M

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10

Date

12/5/2022

8/30/2022

5/6/2022

3/8/2022

12/17/2021

Round

Seed VC

Series A

Seed VC

Seed VC

Seed VC

Company

Kapu

Oxwash

Chroma

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Amount

$8M

$11.72M

$5.4M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

10

2

3

10

10

Biz Stone Portfolio Exits

6 Portfolio Exits

Biz Stone has 6 portfolio exits. Their latest portfolio exit was Factmata on November 17, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/17/2022

Acquired

$99M

17

11/7/2017

Acq - Talent

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$99M

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10

9/14/2017

Corporate Majority

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$99M

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10

7/18/2016

Acquired

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$99M

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10

11/19/2015

IPO

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$99M

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10

Date

11/17/2022

11/7/2017

9/14/2017

7/18/2016

11/19/2015

Exit

Acquired

Acq - Talent

Corporate Majority

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

17

10

10

10

10

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