It's A Wild Ride For JeevesTimothy J. Mullaney
Here's proof the Internet can be just as much fun as TV game shows: Pick the right venture-capital investment and you can win big prizes. Consider Geoffrey Y. Yang of Institutional Venture Partners in Menlo Park, Calif. When partners at IVP make home-run picks that bring in profits of $100 million or more, they win, to borrow from TV: "A ne-w-w-w car!" Already, he's driving a Mercedes CL500, thanks to Excite Inc.
Another set of wheels--or more--may be on the way. Yang is responsible for IVP's investments in Ask Jeeves and MMC Networks, which both topped $100 million in profits before the stocks dropped recently. If they rise again, Yang will get his cars even though he and other IVP partners are forming a new firm with VCs from Brentwood Venture Capital. Yang says he hopes to bring the old tradition to his new firm.