Idealab
Investments
82Portfolio Exits
26Funds
3About Idealab
Idealab creates and operates pioneering technology companies. Its pioneering companies include CitySearch, now a part of IAC, which established the category of local online community directories. eToys demonstrated the potential for online consumer retail and became one of the most recognized brands during the early days of e-commerce. Overture Services, which began life as GoTo.com, was the first company to introduce the concept of paid search - the business model that powers the multibillion-dollar online search market. Idealab continues to explore a range of technology frontiers. New models for improving the search experience are at the core of several companies currently growing inside of Idealab. Moving beyond the Internet, Idealab has spawned companies with breakthrough technologies in robotics, renewable energy and automotive design and production among others. Idealab also continues to partner with leading venture capital firms and other strategic investors to provide the resources to maximize the potential of these companies. In addition to capital, Idealab provides a full range of resources to infuse start-ups with the support they need to rapidly introduce innovative products and services. Resources include office space and the accompanying office services, development and technology, product and graphic design, marketing, financial advice, human resources, competitive research, legal, accounting and business development support and services. In addition, Idealab provides advice on strategy, branding and corporate structure.
Latest Idealab News
Aug 30, 2023
Every now and then, an interesting patent appears in patent searches that make you wonder exactly what someone’s up to. Now, don’t get me wrong. Patents are issued all the time, and most of the time, a real product or business isn’t created. But when it comes to someone like IdeaLab ‘s Bill Gross – an inventor known for creating dozens of products and companies – you have to wonder what he’s got up his sleeve. First, let’s look at the patent. Granted B1 status yesterday, the patent, US 11738466 B1, is titled “Robot For Preparing And Delivering Food Items” The patent description goes on to describe just that: The automated food preparation and delivery robot comprises a communications system configured to receive a food order and address from a customer, a navigation system configured to automatically drive the vehicle to the address, and an automated food preparation system configured to prepare food in accordance with the food order while en route to the customer address. The automated food preparation system is configured to determine a drive time to travel to the customer address, and determine a preparation time to prepare the food in accordance with the food order. If the drive time is greater than the preparation time, the robot waits and then begins preparing the food after a delay substantially equal to the drive time minus the preparation time. In this manner, preparation of the food coincides with arrival at the customer address. We’ve seen lots of crazy ideas that tie together mobility and cooking, but this is the first one that I’ve seen that is a fully autonomous robotic vehicle and food prep all in one: The invention in the preferred embodiment is an automated food preparation and delivery robot configured to prepare food orders while en route to a customer address, without the aid of a person on the vehicle. The automated food preparation and delivery robot comprises: a vehicle, a communications system configured to receive a food order and address from a customer, a navigation system configured to automatically drive the vehicle to the address; and an automated food preparation system configured to prepare the food in accordance with the food order while en route to the customer address and dispense the food upon arrival. Here’s a figure from the patent that outlines the sequence of processing a food order: On the other hand, this is Bill Gross, a well-known inventor and successful entrepreneur. And since Gross, who runs one of the longest-running Silicon Valley technology incubators around, is listed as the sole inventor on the patent, my guess is this is an idea he’s at least somewhat invested in. Still, it’s yet to be seen whether or not he’s planning on productizing the concept. Like I said, most patented remain just that, ideas. But given Gross’s history of both founding successful companies and a deep interest in robotics – he was a co-founder of Evolution Robotics, a maker of cleaning robots acquired in 2012 by iRobot – it’s worth keeping an eye on. I’ve reached out to Gross for comment, and I’ll let you know what I hear. Get The Spoon in Your Inbox Leave this field empty if you're human: Related
Idealab Investments
82 Investments
Idealab has made 82 investments. Their latest investment was in Tuned as part of their Seed VC - II on February 2, 2023.

Idealab Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
2/8/2023 | Seed VC - II | Tuned | $3.5M | No | 3 | |
9/19/2022 | Seed VC | Tuned | $2.5M | Yes | 2 | |
10/19/2021 | Series A | Carbon Capture | $35M | Yes | Idealab X, Prime Movers Lab, Rio Tinto Group, TIME Ventures, and Undisclosed Investors | 22 |
3/10/2021 | Seed VC | |||||
10/15/2019 | Seed |
Date | 2/8/2023 | 9/19/2022 | 10/19/2021 | 3/10/2021 | 10/15/2019 |
---|---|---|---|---|---|
Round | Seed VC - II | Seed VC | Series A | Seed VC | Seed |
Company | Tuned | Tuned | Carbon Capture | ||
Amount | $3.5M | $2.5M | $35M | ||
New? | No | Yes | Yes | ||
Co-Investors | Idealab X, Prime Movers Lab, Rio Tinto Group, TIME Ventures, and Undisclosed Investors | ||||
Sources | 3 | 2 | 22 |
Idealab Portfolio Exits
26 Portfolio Exits
Idealab has 26 portfolio exits. Their latest portfolio exit was Gem on March 09, 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 |
---|---|---|---|---|---|
3/9/2022 | Acquired | 1 | |||
2/14/2022 | Reverse Merger | 5 | |||
12/31/2021 | Reverse Merger | 9 | |||
Date | 3/9/2022 | 2/14/2022 | 12/31/2021 | ||
---|---|---|---|---|---|
Exit | Acquired | Reverse Merger | Reverse Merger | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 | 5 | 9 |
Idealab Fund History
3 Fund Histories
Idealab has 3 funds, including Idealabx1 LP.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
1/31/2020 | Idealabx1 LP | Early-Stage Venture Capital | Open | $24M | 1 |
DIGITAL DISRUPTION FUND | |||||
Idealab Angels1 |
Closing Date | 1/31/2020 | ||
---|---|---|---|
Fund | Idealabx1 LP | DIGITAL DISRUPTION FUND | Idealab Angels1 |
Fund Type | Early-Stage Venture Capital | ||
Status | Open | ||
Amount | $24M | ||
Sources | 1 |
Idealab Team
26 Team Members
Idealab has 26 team members, including current Founder, Chief Executive Officer, Marcia Goodstein.
Name | Work History | Title | Status |
---|---|---|---|
Marcia Goodstein | Founder, Chief Executive Officer | Current | |
Name | Marcia Goodstein | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Founder, Chief Executive Officer | ||||
Status | Current |
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