Wozniak Launches New Technology Venture - Steve Wozniak, Wheels of Zeus

EDP Weekly's IT Monitor, Feb 4, 2002

Steve Wozniak, the technical visionary and co-founder of Apple Computer, announced recently the launch of Wheels of Zeus (wOz), a new company focused on designing new consumer electronics wireless products to help everyday people track everyday things. The company has secured $6 million in first round funding from Mobius Venture Capital, Draper Fisher Jurvetson and Palo Alto Investors.

"wOz is designing new consumer electronics wireless products that will have universal appeal among consumers and corporations alike," said Steve Wozniak. "Recent advances in global positioning software (GPS) systems and antenna technology coupled with the declining cost of processing power and two-way networking make the possibilities for new devices and services really exciting."

A Silicon Valley icon and philanthropist for the past three decades, Wozniak helped shape the computing industry with his design of Apple's first line of products including the Apple I and II, and influenced the popular Macintosh. He was awarded the National Medal of Technology, the highest honor bestowed America's leading innovators by the President of the United States, and, in 2000, was inducted into the Inventors Hall of Fame. Wozniak was awarded the prestigious Heinz Award for Technology, The Economy and Employment for "single-handedly designing the first personal computer and for then redirecting his lifelong passion for mathematics and electronics toward lighting the fires of excitement for education in grade school students and their teachers." Making significant investments of both his time and resources in education, Wozniak "adopted" the Los Gatos School District, providing students and teachers with hands-on teaching, as well as donations of state-of-the-art technology equipment. Wozniak founded the Electronic Frontier Foundation, and was founding sponsor of the Tech Museum, Silicon Valley Ballet and Children's Discovery Museum of San Jose.

Joining Wozniak on the board of Wheels of Zeus is Greg Galanos, managing director at Mobius Venture Capital. Galanos has spearheaded Mobius Venture Capital's commitment to the wireless market with investments in Bergana Communications, Danger, PocketThis!, SkyPilot Network, Transilica and Wheels of Zeus. With over 20 companies in the wireless and broader communications market, Mobius Venture Capital has a strong foothold in what is expected to be a $98 billion market by 2003, according to Morgan Stanley.

"Steve's quintessential character and visionary passion bootstrapped the personal computer revolution," said Galanos. "Expanding on his thought leadership that computing should be accessible to all, Steve's new vision will help converge wireless networks, the Internet and other emerging technologies through the design of new devices and services accessible to everyone."

Tim Draper, the founder and managing director at Draper Fisher Jurvetson, will serve as chairman of the company's newly formed advisory board, which will include top executives and industry innovators. Draper also launched the Draper Affiliate Network, a group of regional early-stage venture capital funds. His original suggestion to use "viral marketing" in web-based e-mail to geometrically spread an Internet product to its market was instrumental to the successes of Hotmail and Four11. Draper served on the California State Board of Education and launched a state wide cyber-initiative on school choice for the California General Election in November of 2000.

"We are thrilled that Steve Wozniak has decided to jump back into the arena with yet another visionary plan," said Draper. "Working with him to create another offering as ubiquitous and useful as the personal computer will be a great thrill -- and a tremendous business opportunity."