Formation 8 is now moving faster than a speeding bullet, Hyperloop FAST!
If you have been following any major trends you’ll know that Elon Musk is in route to rule the world. Well, that may be an exaggeration, perhaps at least Mars, but on a Earth like note, last year he proposed an idea of a transportation method so futuristic that only someone crazy or super motivated would contemplate it. It turns out someone may be both and that organization goes by the name Formation 8. So what is this futuristic idea and who is Formation 8? Read on!
Formation 8 is an investment firm founded by Joe Lonsdale, Brian Koo and Jim Kim, back in 2011. So far they’ve done a superior job of picking some major money generating enterprises with its first fund. They just so happen to include RelateIQ, which Salesforce bought for $390 million, and Oculus, which Facebook bought for $2 billion last year. When they started they had eight employees at launch, and now close to 30 people wander about the office give or take. Let’s not forget the investments made in companies Wish, Radius, LearnSprout, Leeo, and Yello Mobile.
Formation 8 is looking for “industry-transforming companies” no matter what their situation is. So in order to offer more than cash to their prospects they plan on hooking up their potentials with the right overseas manufacturers, namely partners in Asia; where they just so happen to have a “in”. They also plan on banging out their business-development team in in Seoul, Singapore, Shanghai and Beijing.
The whole idea is that they use their connection in Asia so the companies it invests in can find partners for manufacturing and distribution. The firm was founded on the premise of connecting Silicon Valley entrepreneurs with Asian partners. To do so they’ve opened offices in Korea, Singapore, Beijing and Shanghai. Jim Kee says “We want to identify the best potential partners to help these companies grow,.. Not only can we identify these companies, but… we can link those companies to the very best distribution partners and manufacturing partners.”
Formation 8 is developing their second fund and in doing so is bringing in some new blood. Not to mention $550 million dollars in new investments. The firm recently added former Matrix and Khosla Ventures partner Shirish Sathaye to its investment team, as well as bringing on veteran Silicon Valley investor Pierre Lamond as an advisor. Sathaye has been in the tech scene for nearly 30 years, he moved his way up the ranks of various tech firms until he became VP of engineering at Alteon WebSystems, which was acquired by Nortel a while back.
It turns out that Sathaye enjoyed working with a team, Sathaye will be reunited with some people he had known from his days at Khosla — most notably Kim, Gideon Yu and new Formation 8 advisor Pierre Lamond. This is what made him join the squad. On top of this Lior Susan will be joining the firm to help lead its investments in the hardware sector. Suasan is from from Flextronics, a company that made investments in 28 different companies, but their contribution was more about helping those startups get their products made.
Susan’s role will be to identify, invest in, and advising emerging hardware startups for the firm.
Susan will be looking to help statrups get through the BS of getting in to the market; “hardware is growing fast and there’s a shortage of smart investors in the space,” Susan said. “We believe that to write a check is a commodity.” By contrast, Susan believes he can help startups figure out those processes. Don’t think for one second there is any experimental ground to cover, Formation 8 is no amateur — after all, it was one of the investors in Oculus VR before that company was acquired by Facebook.
But it will be looking to ramp up its investments in the fast-growing segment. So why should you give any consideration about all this nonsense I’ve been spouting!? Right here, Elon Musk gave the world the designs to build transportation that could one day travel the Hyperloop at speeds of up to 760 mph (1,220 km/h). Musk stated that it could get passengers from Los Angeles to San Francisco in just 30 minutes, according to Musk, who outlined the basic design of the system in a paper posted to the SpaceX website in August 2013.
On Formula 8’s Website: Hyperloop
We will move people and cargo at speeds never thought possible. We will make the world smaller, cleaner and more efficient.
We are developing the technology and hardware to make hyperloop a reality. We design, build and test every aspect of the world’s next transportation system – Hyperloop. We are growing a world class team to solve and execute every aspect of this bold vision. We are led by a distinguished board of directors and are financially backed by leading investors Formation 8, Sherpa Ventures, Zhen Capital, David O. Sacks and others.
Well there you have it. Formula 8, who has done great business entrepreneurial pics one after the other is about to invest wholeheartedly in an Elon Musk idea, WHAT!!!! You know if you’re looking for work you better be sending resumes to Formula 8, because guess what, they are hiring like crazy right now. Send your resume!