Lijit Pledges One Percent Equity to Entrepreneurs Foundation of Colorado
Giving Back to Colorado's Entrepreneurial Community Starts Early at Lijit.
Louisville, CO (PRWEB) October 1, 2007
Lijit Networks, Inc., a company that provides revolutionary search tools and statistics for blog publishers, has pledged to donate one percent of its overall equity to the Entrepreneurs Foundation of Colorado, a philanthropic program targeted at angel - and venture capital-backed companies based in Colorado. The program's mission is to help Colorado entrepreneurs contribute to the long term health and sustainability of Colorado early in the creation of their companies.
The Entrepreneurs Foundation of Colorado is unique in that it encourages philanthropic activity in the very early stages of a company's formation, instead of waiting to undertake those activities once an organization has become successful. "Our one percent pledge allows us to share our future success with the community that has been so critical to our success to date," remarks Lijit's CEO, Todd Vernon. "Our employees and investors are proud to participate in this program, which will help foster a culture of giving within our young organization."
Lijit joins TechStars, along with the Entrepreneurs Foundation of Colorado founding member companies, in helping to build a permanent endowment to provide community grants for arts, civic involvement, education, the environment, and health and human services. Upon a liquidity event, the cash or stock that has been given by participating companies will be distributed to the appropriate Community Foundations.
About Lijit Networks, Inc.:
Lijit Networks, Inc. was incorporated in June 2006. The Lijit service was developed to search people, their content, and connections in order to deliver search results with unprecedented relevance. The company is led by Todd Vernon, CEO. Vernon, a founder and former CTO of Raindance Communications, brings to the team his management experience in the high-tech sector and enthusiasm for leading-edge web technologies. Stan James, founder and CTO of Lijit, brings years of research in social trust and a portfolio of intellectual property in the space. www. lijit. com
About Entrepreneurs Foundation of Colorado:
Four companies - Tendril, Rally Software, Collective Intellect and Me. dium - are the founding grantors for the Entrepreneurs Foundation of Colorado. The founding trustees are Brad Feld (Foundry Group), Kyle Lefkoff (Boulder Ventures), Tim Connor (Sequel Venture Partners), Ryan Martens (Rally Software), Bill Roberts (Hogan & Hartson), and Michael Platt (Cooley Godward Kronish). In addition, the Entrepreneurs Foundation of Colorado has formed an alliance with the Entrepreneurs Foundation, an organization formed in 1988 with affiliates in Silicon Valley, Austin, Southern California, New England, Dallas, Portland, Atlanta, Hawaii and Israel. www. efcolorado. org
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