Google Ventures’ Joe Kraus Joins OpenCandy’s Board of Directors
I profiled San Diego-based OpenCandy just last week, and the Web-based distributor of open-source software already is providing an update. Excite founder Joe Kraus, who participated in OpenCandy’s Series A funding round as an angel investor, has joined the company’s board of directors. According to a statement issued by the company, Kraus will be joining directors James Cham of Bessemer Venture Partners and Darrius Thompson, OpenCandy’s founding CEO.
I noticed, though, that Kraus recently joined Google Ventures, the corporate venture capital arm founded last March with a $100 million commitment from Google, the Mountain View, CA-based search engine giant.
So does that mean that Kraus could someday oversee a Google Ventures investment in OpenCandy?
OpenCandy co-founder Chester Ng responded by e-mail: “Two of our angel investors, Joe Kraus and [LinkedIn founder] Reid Hoffman, have gone venture (Google Ventures and Greylock, respectively) since we raised our [$3.5 million] A round in late 2008. We’re excited to see this; this does not preclude their firms from leading future investments in OpenCandy. If we brought on their firms as investors, other partners would likely be involved to mitigate any conflict of interest.”
Prior to joining Google Ventures, Kraus was a director of product management at Google, where he oversaw the OpenSocial project, the company’s effort to develop API [application programming interface] standards for social networking platforms. Kraus joined Google through its 2006 acquisition of JotSpot, where he was co-founder and CEO.
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