At 24, Jack Abraham sold his first company, Milo.com, to eBay for $75 million. He’d dropped out of his Wharton undergrad program two years earlier to start the website, where consumers could hunt down merchandise at their local brick-and-mortar retailers. After the sale in 2010, he joined eBay’s staff, before shifting to a consulting role and making angel investments in companies like Pinterest and Postmates. Then in early 2013 he
Atomic, With First Fund, Looks to Upend Venture-Capital Model
Is venture capital’s approach to building startups the latest industry to get upended by technology? Jack Abraham, founder of a startup studio called Atomic Management LLC, thinks so. His firm comes up with ideas and then builds and funds its startups from scratch, essentially mashing together the roles of founder and investor. “We think we’re inventing the next version of venture capital,” Mr. Abraham said.