Consumer Internet Expert Joins Lightspeed Venture Partners; Former Executive of America Online, InterActiveCorp, and Citysearch Named Partner

Business Wire, April 3, 2006

MENLO PARK, Calif. -- Lightspeed Venture Partners, a leading provider of seed and early-stage venture capital to technology companies, announced today that Jeremy Liew has joined the firm as a partner focusing on software, Internet services and digital media. Having served on the management teams of America Online, InterActiveCorp, and Citysearch, Jeremy brings proven expertise in driving the success of Internet businesses.

"Jeremy has a strong operational background, as well as extensive experience in driving business strategy for online companies," said Eric O'Brien, general partner. "His track record in contributing to the success of some of the industry's best-known Internet services companies provides an ideal complement to our team."

"I am enthusiastic about joining the team at Lightspeed and becoming part of a premier early-stage venture capital platform," said Jeremy. "I look forward to working with my colleagues to identify and grow the next generation of successful Web companies."

Jeremy has more than 12 years of experience in business strategy, internationally as well as within the U.S. He most recently served as general manager at Netscape (a subsidiary of America Online) where he had P&L responsibility and effected a significant increase in the group's operating results, reversing a four-year negative trend. Earlier at America Online, Jeremy was senior vice president of corporate development in the office of the chairman, a role in which he was responsible for strategic planning, corporate development, and business development activities.

Prior to joining America Online, Jeremy was vice president of strategic planning at Fortune 500 media and e-commerce company InterActiveCorp (formerly USA Networks and USA Interactive). There he drove strategic analysis of new business opportunities, as well as sourcing, evaluating, and executing acquisitions and investments. Jeremy came to InterActiveCorp from Citysearch where he led merger integration activities, developed sales teams, and provided strategic planning. Previously, he worked at international management consulting firm McKinsey & Co.

Jeremy holds a master's degree in business administration from the Stanford Graduate School of Business. He earned both a B.S. in mathematics and a B.A. in linguistics from Australian National University.

About Lightspeed Venture Partners

Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $1.3 billion of committed capital and focuses on seed and early-stage information technology investments in the U.S., Israel and Asia. The firm's partners have invested in more than 100 technology companies over the past two decades and have contributed to the success of market leaders including Blue Nile, Brocade, Ciena, Doubleclick, Galileo Technology, Informatica, Kiva Software, Metasolv, Phone.com, Quantum Effect Devices, Sirocco and Waveset. For more information, please visit our Website at www.lightspeedvp.com.