Company: SecondSpace
Description: Online service for baby-boomers
Competitors: ThirdAge, MyPrimeTime, CBS
Location: Seattle
Amount Raised: $6.5 million
Round: First
Date Announced: 7/11/06
VC Firms: Ignition Partners
VC Directors: John Connors
Quick Take: Ignition Partners is bringing the Web 2.0 versions of ThirdAge and MyPrimeTime to a PC near you. The Seattle-based venture capital firm is assembling an impressive board led by a former Microsoft CFO and management team led by former Classmates.com CEO Anil Pereira to do something that they say will enable baby-boomers to have more free time. I'm not sure what this means but I think it has something to do with the vacation home market considering its name, SecondSpace, and the backgrounds of three of the top four executives. Whatever their focus is, I like the management team and the target demographic. What I don't like is that they won't tell the world what they do or that it will take $6.5 million to launch. And there is that footnote of history working against them. Despite raising more than $30 million in venture capital, neither MyPrimeTime nor ThirdAge achieved profitable exits.

Technology (1 out of 10): 3
Market: 5
Management: 9
Chances for IPO: 3
Overall VC Rating: 5

For more on SecondSpace's funding, see:
Alarm Clock
SecondSpace press release
Charles O'Donnell

Technorati tags: secondspace, ignition+partners, thirdage, vc, venture+capital