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	<title>WebProNews &#187; Eugene Lee</title>
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		<title>Socialtext Gets $9.5 Million And New CEO</title>
		<link>http://www.webpronews.com/socialtext-gets-9-5-million-and-new-ceo-2007-11</link>
		<comments>http://www.webpronews.com/socialtext-gets-9-5-million-and-new-ceo-2007-11#comments</comments>
		<pubDate>Mon, 05 Nov 2007 16:36:35 +0000</pubDate>
		<dc:creator>Doug Caverly</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Advertising]]></category>
		<category><![CDATA[CEO]]></category>
		<category><![CDATA[Enterprise Wikis]]></category>
		<category><![CDATA[Eugene Lee]]></category>
		<category><![CDATA[Socialtext]]></category>

		<guid isPermaLink="false">http://www.webpronews.com/?p=41642</guid>
		<description><![CDATA[<p>When a company gets a new CEO, it can be a good thing or a bad thing, but when the new CEO was educated at Harvard and MIT, and worked at Adobe and Cisco, it&#8217;s probably a great thing.&#160; Even better since the new CEO - Eugene Lee - is getting a fresh $9.5 million to play with at Socialtext.<br />
<br />
]]></description>
			<content:encoded><![CDATA[<p>When a company gets a new CEO, it can be a good thing or a bad thing, but when the new CEO was educated at Harvard and MIT, and worked at Adobe and Cisco, it&rsquo;s probably a great thing.&nbsp; Even better since the new CEO &#8211; Eugene Lee &#8211; is getting a fresh $9.5 million to play with at Socialtext.</p>
<p><span id="more-41642"></span> SAP, Draper Fisher Jurvetson, and Omidyar participated in the Series C funding round that brought in the cash, according to <a title="&quot;Socialtext offers 'social software' to big companies, raises cash&quot;" href="http://venturebeat.com/2007/11/04/socialtext-offers-social-software-to-big-companies-raises-cash/">Matt Marshall</a>.&nbsp; One potentially troubling detail is the fact that Intel Capital, which had previously invested money, did not show further financial interest, but $9.5 million is $9.5 million.</p>
<p><img src="http://images.ientrymail.com/webpronews/article_pics/sm_body/elee.gif"></p>
<p>
Also, in relation to the change in CEO, we should point out that Lee&rsquo;s replacement of Ross Mayfield was planned &#8211; Mayfield himself started <a title="Wiki Company Wants New CEO" href="http://www.webpronews.com/topnews/2007/07/20/wiki-company-wants-new-ceo">advertising</a> for a new CEO more than three months ago, and he&rsquo;s staying on with the company.&nbsp; So all appears to be well at Socialtext, which focuses on enterprise wikis.</p>
<p>In the future, it looks like Socialtext will remain intent on making wikis work in the business world.&nbsp; As part of this process, it&rsquo;ll undoubtedly be looking for new customers, but in a blog post, Lee invited &ldquo;suggestions, feedback, constructive criticism, and whacky ideas,&rdquo; as well.</p>
<p><img src="http://images.ientrymail.com/webpronews/article_pics/sm_body/socialtext.gif"></p>
<p>
At the moment, I can only think of one: update the &ldquo;<a title="About Socialtext" href="http://www.socialtext.com/company">About The Company</a>&rdquo; page so that Mayfield is no longer listed as Socialtext&rsquo;s CEO.</p>
<p><a href="http://aj.600z.com/aj/41546/0/cc?z=1"><img src="http://aj.600z.com/aj/41546/0/vc?z=1&#038;dim=41553"></a></p>
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