Susan Lyne, the longtime media exec who has been first in command of AOL’s brand set from before time 2013, is stepping down from with the aim of role to run a venture deposit inside the another York-based media company aimed by the side of women-led digital startups.
It is tentatively being called the Build deposit — with the aim of may well swap — and strength of character to begin with arrange going on for $10 million to $12 million to invest clothed in early-stage women-led companies. AOL thought with the aim of seed and run A funds strength of character be located made on a range of consumer Internet areas, together with e-commerce and media.
I had been examination going on for Lyne leaving her situation — which includes purview on a range of content sites owned by AOL, together with TechCrunch and a variety of entertainment and news brands — intended for a while. Carry on night, I was tipped to the move clothed in which first in command Tim Armstrong seems to arrange found a soft landing touch intended for the exec, which was deep-rooted by an AOL spokesman.
Lyne strength of character join AOL’s venture organization, which is fully funded and has been relatively quiescent, and describe absolutely to Armstrong.
Clothed in an interview earlier now, Lyne told me she had prolonged wanted to execute something like this, since she gone Gilt Groupe and came to AOL clothed in February of 2013. Prior to with the aim of, she had been on the company’s board.
“This has continuously been clothed in the back of my supervisor and has been my passion,” Lyne thought. “Women are such an main part of the Internet and need to be located represented better clothed in funding.”
Pointing to the dire stats going on for women and girls clothed in tech, she famous with the aim of just seven percent of venture funding goes to female-led startups and just four percent of VCs are women, even though women are most important users of online services.
Lyne’s portfolio strength of character be located largely taken up by Luke Beatty, who has been running its experimental products organization and had tied AOL clothed in January to run the brand group’s artifact area under Lyne. He’ll grow the tech, automobile and entertainment brands. Clothed in addition, Maureen Sullivan, who has been running AOL.Com and the various lifestyle and money content brands, strength of character pick up again to execute so. Sullivan is additionally clothed in charge of its Makers brand, a run of videos alert on women’s stories.
Lyne had not been clothed in charge on the Huffington stake Media set headed by Arianna Huffington (and, rebuff shockeroo, Arianna is still clothed in charge of Arianna and additionally reports absolutely to Armstrong).
Lyne has had a prolonged and varied career clothed in media and is a high-profile hire. Or else Gilt, she ran Martha Stewart Living Omnimedia. Lyne was additionally a top television system exec by the side of Disney’s fundamentals, someplace she headed development of shows like “Desperate Housewives,” “Lost,” and “Grey’s Anatomy.” or else with the aim of, she was a magazine editor, together with launching Premiere.
While she famous her tenure integrated bringing the brand set to profitability, Lyne did express disappointment going on for live capture on tape labors not taking inedible the same as the knowledgeable journalist had hoped.
“You are in no way vacant to arrange a 100 percent come to rate and I was excited going on for live capture on tape place,” she thought. “At last part of date, we may well not progress to statisticsics come off and shut up it or else it launched.”
But Lyne thought she strength of character come to the ground running with her funds by the side of the Build deposit, which strength of character additionally be located aimed by the side of areas someplace women are the principal customers. “We are vacant to be located investing very soon,” she thought. “This is not something with the aim of can put off many months — we need to develop a pipeline.”
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