Cliff Sharples, former Cheezburger Networks COO, to Lead Venture
AUSTIN, Texas – November 7, 2013 – Tritium Partners, LLC, “Tritium”, today announced that it has made an undisclosed financial commitment to launch a new growth-oriented acquisition vehicle in the Internet services sector. Cliff Sharples, an industry veteran, will lead the venture as Chief Executive Officer. Sharples and Tritium are actively evaluating numerous acquisition opportunities in the Internet and online media services markets.
“We are excited about our partnership with Cliff and his team to help identify founders who have the same passion for building a leading, high-growth company in the media and Internet services space,” said Phil Siegel, Tritium co-founder and Managing Director. “We believe that there is a great opportunity to leverage our team’s knowledge from over a decade of successful investing in Internet growth companies, to help Cliff and his team launch their new Internet and media company.” Tritium’s principals have previously led large Internet acquisition initiatives and expect the capital commitment to Sharples and team to be comparable to those investments.
Cliff Sharples has over 20 years of experience in creating and leading consumer Internet companies, with a proven track record of innovation and value creation in the digital space. He built one of the largest digital gardening brands as co-founder and Chief Executive Officer of Garden.com in 1995, which completed a successful public offering in 1999 (NASDAQ: GDEN). He founded Shop.org, the largest e-commerce trade association, serving as its Founding Chairman, which now boasts over 600 members, including the top 10 largest U.S. retailers. He also served as President of Kinetix Living, a venture-backed healthy living company, later acquired by Regence BlueShield. Most recently, Cliff served as Chief Operating Officer of Cheezburger, Inc., one of the largest digital media publishers in the online humor category. He has also served on a number of private Boards of Directors for both venture-backed companies and non-profit organizations. Sharples earned a Masters in Management from the J.L. Kellogg Graduate School of Business at Northwestern University.
“Tritium Partners has pledged significant capital and resource commitments to this venture, and we are excited about the opportunity to marry our market knowledge and operational experience with their skillset acquiring and building high-growth media and Internet services companies,” said Mr. Sharples. “Tritium’s experience partnering with founder-based businesses and supporting a company through phases of rapid growth convinced our team that they were the right partner to help assess a range of attractive businesses and execute a successful growth strategy. Our acquisition efforts will place particular emphasis on founders who have cultivated passionate audiences through unique and creative content.”
Mr. Sharples and his management team will be a U.S.-based platform in Seattle, Washington, evaluating targets globally.
About Tritium Partners
The founders of Tritium Partners have been partnering for over a decade with talented entrepreneurs and executive teams to build great companies. Since 1999, the team at Tritium has successfully managed sixteen growth-oriented investment platforms and acquired over sixty companies as both platforms and add-ons. Tritium’s emphasis is on long-term value creation through internal growth initiatives and acquisitions, with a particular focus in three markets: Internet/media, supply chain/logistics, and business/financial services.
For more information contact:
Tritium Partners, LLC
Chief Executive Officer