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{{For|other people named David McClure|David McClure (disambiguation)}}
{{short description|Entrepreneur and angel investor}}
{{short description|Entrepreneur and angel investor}}
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{{For|other people named David McClure|David McClure (disambiguation)}}
{{Infobox person
{{Infobox person
| name = Dave McClure
| name = Dave McClure
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| birth_date = {{birth based on age as of date|45|2012|07|07}}<ref>{{cite web|last=McClure|first=Dave|title=late bloomer, not a loser. (I hope)|url=https://500hats.com/late-bloomer-not-a-loser-i-hope-ac0ec49a6ddc#.5vfrcv51f|work=500hats.com|accessdate=2 September 2012}}</ref>
| birth_date = {{birth based on age as of date|45|2012|07|07}}<ref>{{cite web|last=McClure|first=Dave|title=late bloomer, not a loser. (I hope)|url=https://500hats.com/late-bloomer-not-a-loser-i-hope-ac0ec49a6ddc#.5vfrcv51f|work=500hats.com|accessdate=2 September 2012}}</ref>
| birth_place = [[West Virginia]], [[United States]]
| birth_place = [[West Virginia]], [[United States]]
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| education = [[Johns Hopkins University]] <small>([[Bachelor of Science|BS]])</small>
| residence =
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| education = [[Johns Hopkins University]]
| occupation = [[Entrepreneur]], [[angel investor]]
| occupation = [[Entrepreneur]], [[angel investor]]
}}
}}


'''David "Dave" McClure''' is an entrepreneur and [[angel investor]] based in the [[San Francisco Bay Area]], who founded the [[business accelerator]] [[500 Startups]] (now 500 Global), serving as CEO until his resignation in 2017.<ref>{{Cite news|url=https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|title=I'm a Creep. I'm Sorry. – 500 Hats|date=2017-07-01|work=500 Hats|access-date=2017-07-02|archive-url=https://web.archive.org/web/20170702005224/https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|archive-date=2017-07-02|url-status=dead}}</ref><ref>{{Cite news|url=https://www.axios.com/exclusive-dave-mcclure-resigns-as-general-partner-of-500-startups-2452701900.html|title=Exclusive: Dave McClure resigns as general partner of 500 Startups funds|date=2017-07-03|work=Axios|access-date=2017-07-03|language=en}}</ref> He founded Practical Venture Capital soon after, a new venture capital fund that will continue to work with companies he previously funded through 500 Startups.<ref>{{cite news |last1=Aragon |first1=Lawrence |title=500 startups founder launches VC secondaries fund |url=https://www.secondariesinvestor.com/500-startups-founder-launches-vc-secondaries-fund/ |accessdate=2 July 2020 |publisher=Secondary Investors |date=March 18, 2020}}</ref>
'''David "Dave" McClure''' is an entrepreneur and [[angel investor]] based in the [[San Francisco Bay Area]], who founded the [[business accelerator]] [[500 Startups]] (now 500 Global) and served as its CEO until his resignation in 2017.<ref>{{Cite news|url=https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|title=I'm a Creep. I'm Sorry. – 500 Hats|date=2017-07-01|work=500 Hats|access-date=2017-07-02|archive-url=https://web.archive.org/web/20170702005224/https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|archive-date=2017-07-02|url-status=dead}}</ref><ref>{{Cite news|url=https://www.axios.com/exclusive-dave-mcclure-resigns-as-general-partner-of-500-startups-2452701900.html|title=Exclusive: Dave McClure resigns as general partner of 500 Startups funds|date=2017-07-03|work=Axios|access-date=2017-07-03|language=en}}</ref> He founded Practical Venture Capital soon after, a new venture capital fund that would continue to work with companies he previously funded through 500 Startups.<ref>{{cite news |last1=Aragon |first1=Lawrence |title=500 startups founder launches VC secondaries fund |url=https://www.secondariesinvestor.com/500-startups-founder-launches-vc-secondaries-fund/ |accessdate=2 July 2020 |publisher=Secondary Investors |date=March 18, 2020}}</ref>


==Biography==
==Biography==
McClure was born in and grew up in [[West Virginia]].<ref>{{Cite web|url=https://www.startupgrind.com/blog/from-the-vault-dave-mcclure-500-startups/|title=From The Vault Dave McClure (500 Startups)|website=www.startupgrind.com|language=en|access-date=2017-05-02}}</ref> He graduated from [[Johns Hopkins University]] in 1988 with a Bachelor of Science in [[Mathematical sciences|Mathematical Engineering]].<ref>{{Cite news|url=https://hub.jhu.edu/magazine/2015/summer/dave-mcclure-500-startups/|title=Venture capitalist Dave McClure plays the odds when picking his next investment|date=2015-06-04|work=The Hub|access-date=2017-05-02|language=en}}</ref>
McClure was born in [[Morgantown, West Virginia]] and grew up in [[Columbia, Maryland]].<ref>{{Cite web|url=https://www.startupgrind.com/blog/from-the-vault-dave-mcclure-500-startups/|title=From The Vault Dave McClure (500 Startups)|website=www.startupgrind.com|language=en|access-date=2017-05-02}}</ref> He graduated from [[Johns Hopkins University]] in 1988 with a Bachelor of Science in [[Mathematical sciences|Mathematical Engineering]].<ref>{{Cite news|url=https://hub.jhu.edu/magazine/2015/summer/dave-mcclure-500-startups/|title=Venture capitalist Dave McClure plays the odds when picking his next investment|date=2015-06-04|work=The Hub|access-date=2017-05-02|language=en}}</ref>


==Technology startups==
==Technology startups==
McClure founded Aslan Computing, a technology consultancy, in 1994, and sold the company to Servinet/Panurgy in 1998. He subsequently worked as a technology consultant to Microsoft, Intel and other high-tech companies. He was director of marketing at [[PayPal]] from 2001 through 2004. He then launched and ran marketing for [[Simply Hired]] in 2005 and 2006.<ref>{{cite web|title=Dave McClure, Master of 500 Hats|publisher=Web 2.0 Summit|url=http://www.web2summit.com/web2010/public/schedule/speaker/362}}</ref>
McClure founded Aslan Computing, a technology consultancy, in 1994, and sold the company to Servinet/Panurgy in 1998. He subsequently worked as a technology consultant to Microsoft, Intel and other high-tech companies. McClure was director of marketing at [[PayPal]] from 2001 through 2004. He then launched and ran marketing for [[Simply Hired]] in 2005 and 2006.<ref>{{cite web|title=Dave McClure, Master of 500 Hats|publisher=Web 2.0 Summit|url=http://www.web2summit.com/web2010/public/schedule/speaker/362|access-date=2011-03-07|archive-date=2016-04-01|archive-url=https://web.archive.org/web/20160401135541/http://www.web2summit.com/web2010/public/schedule/speaker/362|url-status=dead}}</ref>


After leaving PayPal, McClure became a frequent investor in consumer Internet [[startup company|startup companies]], investing in and advising more than 15 consumer internet startups, including virtual goods monetization and payments platform [[Jambool]] (acquired by Google in 2010) and US online education directory TeachStreet (acquired by Amazon in 2011). During the summer of 2009, McClure was acting investment director for [[Facebook]] fbFund (a joint venture incubator/accelerator with prominent venture capital firms Founders Fund and Accel Partners), which provided early-stage capital to startups using Facebook Platform & Facebook Connect.<ref>[http://www.linkedin.com/in/davemcclure "Dave McClure"], LinkedIn profile.</ref>
After leaving PayPal, McClure became a frequent investor in consumer Internet [[startup company|startup companies]], investing in and advising more than 15 consumer internet startups, including virtual goods monetization and payments platform [[Jambool]] (acquired by Google in 2010) and US online education directory TeachStreet (acquired by Amazon in 2011). During the summer of 2009, McClure was acting investment director for [[Facebook]]'s fbFund (a joint venture incubator/accelerator with prominent venture capital firms Founders Fund and Accel Partners), which provided early-stage capital to startups using Facebook Platform & Facebook Connect.<ref>[http://www.linkedin.com/in/davemcclure "Dave McClure"], LinkedIn profile.</ref>


In 2010, McClure founded [[500 Startups]] (now 500 Global), a [[seed accelerator]] and related [[investment fund]].<ref name="bi">{{cite news|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/02/11/businessinsider-angel-investor-dave-mcclure-interview-2011-2.DTL#ixzz1FsbxEPyI|title=Exclusive: The Controversial Dave McClure Tells All|last=Rosoff|first=Matt|date=February 11, 2011|publisher=Business Insider}}</ref>
In 2010, McClure founded [[500 Startups]] (now 500 Global), a [[seed accelerator]] and related [[investment fund]].<ref name="bi">{{cite news|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/02/11/businessinsider-angel-investor-dave-mcclure-interview-2011-2.DTL#ixzz1FsbxEPyI|title=Exclusive: The Controversial Dave McClure Tells All|last=Rosoff|first=Matt|date=February 11, 2011|publisher=Business Insider}}</ref>


McClure gained attention both for his opinionated [[blog]] ''500 Hats'' (as of 2011 one of the ten most-read blogs on [[venture capital]] finance),<ref>{{cite news|publisher=Wall Street Journal|url=https://blogs.wsj.com/digits/2011/01/20/the-most-read-blogs-by-venture-capitalists/?KEYWORDS=dave+mcclure|title=The Most-Read Blogs by Venture Capitalists|date=January 20, 2011|first=Scott|last=Austin}}</ref> and as one of the so-called "Super Angel" investors<ref>{{cite news|publisher=Business Insider|url=http://www.businessinsider.com/who-are-the-super-angels-a-comprehensive-guide-2010-10#500-startups-1|title=Who Are The Super Angels? A Comprehensive Guide|first=Nick|last=Saint|date=October 4, 2010}}</ref> involved in the [[Angelgate]] controversy.<ref name="bbc">{{cite news|publisher=BBC|url=https://www.bbc.co.uk/blogs/thereporters/maggieshiels/2010/09/angelgate_-_a_tech_conspiracy.html|title='Angelgate': A tech conspiracy?|author=Maggie Shiels|date=September 23, 2010}}</ref><ref>{{cite news|work=New York Times|url=http://dealbook.blogs.nytimes.com/2010/09/22/a-quiet-angel-investors-dinner-turns-noisily-public/|title=After Quiet Dinner, Angels Get Indigestion|date=September 22, 2010}}</ref>
McClure gained attention both for his opinionated [[blog]] ''500 Hats'' (as of 2011 one of the ten most-read blogs on [[venture capital]] finance)<ref>{{cite news|publisher=Wall Street Journal|url=https://blogs.wsj.com/digits/2011/01/20/the-most-read-blogs-by-venture-capitalists/?KEYWORDS=dave+mcclure|title=The Most-Read Blogs by Venture Capitalists|date=January 20, 2011|first=Scott|last=Austin}}</ref> and as one of the so-called "Super Angel" investors<ref>{{cite news|publisher=Business Insider|url=http://www.businessinsider.com/who-are-the-super-angels-a-comprehensive-guide-2010-10#500-startups-1|title=Who Are The Super Angels? A Comprehensive Guide|first=Nick|last=Saint|date=October 4, 2010}}</ref> involved in the [[Angelgate]] controversy.<ref name="bbc">{{cite news|publisher=BBC|url=https://www.bbc.co.uk/blogs/thereporters/maggieshiels/2010/09/angelgate_-_a_tech_conspiracy.html|title='Angelgate': A tech conspiracy?|author=Maggie Shiels|date=September 23, 2010}}</ref><ref>{{cite news|work=New York Times|url=http://dealbook.blogs.nytimes.com/2010/09/22/a-quiet-angel-investors-dinner-turns-noisily-public/|title=After Quiet Dinner, Angels Get Indigestion|date=September 22, 2010}}</ref>

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=== Sexual harassment allegations ===


In 2017, McClure was identified in a [[The New York Times|New York Times]] article, along with [[Chris Sacca|Sacca]], about sexual harassment in venture capital. He was described as sending sexually inappropriate messages to a female investor, who later sought employment at his company.<ref>{{cite news|url=https://www.nytimes.com/2017/06/30/technology/women-entrepreneurs-speak-out-sexual-harassment.html|archive-url=https://web.archive.org/web/20170701000045/https://www.nytimes.com/2017/06/30/technology/women-entrepreneurs-speak-out-sexual-harassment.html?_r=0|archive-date=1 July 2017|title=Silicon Valley Women, in Cultural Shift, Frankly Describe Sexual Harassment|last=Benner|first=Katie|work=[[The New York Times]]|date=30 June 2017 |accessdate=30 June 2017}}</ref> In response, he stepped down from day-to-day management in a post titled "I'm a Creep. I'm Sorry".<ref>{{Cite news|url=https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|title=I'm a Creep. I'm Sorry. – 500 Hats|date=2017-07-01|work=500 Hats|access-date=2017-07-02|archive-url=https://web.archive.org/web/20170702005224/https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|archive-date=2017-07-02|url-status=dead}}</ref> He then denied the accusations and retracted his apology in another post that was then deleted.<ref>{{cite news |last1=Tang |first1=Ashley |title=Cheryl Yeoh: Why now, and why I'm not pressing charges |url=https://www.thestar.com.my/news/nation/2017/07/16/cheryl-yeoh-why-i-am-not-pressing-charges/ |archive-url=https://web.archive.org/web/20170716052138/https://www.thestar.com.my/news/nation/2017/07/16/cheryl-yeoh-why-i-am-not-pressing-charges/ |archive-date=16 July 2017 |accessdate=2 July 2020 |work=The Star |date=July 16, 2017}}</ref> A few days later, McClure severed all ties with 500 Startups, resigning as general partner as well.<ref>{{Cite news|url=https://www.axios.com/exclusive-dave-mcclure-resigns-as-general-partner-of-500-startups-2452701900.html|title=Exclusive: Dave McClure resigns as general partner of 500 Startups funds|date=2017-07-03|work=Axios|access-date=2017-07-03|language=en}}</ref> Hours after McClure resigned, a fresh allegation surfaced against him, this time of sexual assault.<ref>{{Cite news |last=Solon |first=Olivia |last2=Levin |first2=Sam |date=2017-07-04 |title=Top Silicon Valley investor resigns as allegation of sexual assault emerges |language=en-GB |work=The Guardian |url=https://www.theguardian.com/technology/2017/jul/03/silicon-valley-dave-mcclure-resigns-sexual-assault |archive-url=https://web.archive.org/web/20231118062439/https://www.theguardian.com/technology/2017/jul/03/silicon-valley-dave-mcclure-resigns-sexual-assault |archive-date=2023-11-18 |access-date=2023-11-18 |issn=0261-3077}}</ref>
⚫
=== Sexual Harassment Allegations ===


In 2017, McClure was identified in a [[The New York Times|New York Times]] article, with [[Chris_Sacca|Sacca]], about sexual harassment in venture capital. He was described as sending sexually inappropriate messages to a female investor, who later sought employment at his company.<ref>{{cite web|url=https://www.nytimes.com/2017/06/30/technology/women-entrepreneurs-speak-out-sexual-harassment.html|title=Silicon Valley Women, in Cultural Shift, Frankly Describe Sexual Harassment|last=McClure|first=Dave|work=[[The New York Times]]|accessdate=30 June 2017}}</ref> In response, he stepped down from day-to-day management in a post titled "I'm a Creep. I'm Sorry.",<ref>{{Cite news|url=https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|title=I'm a Creep. I'm Sorry. – 500 Hats|date=2017-07-01|work=500 Hats|access-date=2017-07-02|archive-url=https://web.archive.org/web/20170702005224/https://500hats.com/im-a-creep-i-m-sorry-d2c13e996ea0|archive-date=2017-07-02|url-status=dead}}</ref> and then denied the accusations and retracted his apology in another post that was then deleted.<ref>{{cite news |last1=Tang |first1=Ashley |title=Cheryl Yeoh: Why now, and why I'm not pressing charges |url=https://www.thestar.com.my/news/nation/2017/07/16/cheryl-yeoh-why-i-am-not-pressing-charges/ |accessdate=2 July 2020 |work=The Star |date=July 16, 2017}}</ref> A few days after, McClure severed all ties, resigning as general partner as well.<ref>{{Cite news|url=https://www.axios.com/exclusive-dave-mcclure-resigns-as-general-partner-of-500-startups-2452701900.html|title=Exclusive: Dave McClure resigns as general partner of 500 Startups funds|date=2017-07-03|work=Axios|access-date=2017-07-03|language=en}}</ref> Dave McClure then created a new venture capital fund, Practical Venture Capital, which aims to buy equity in companies he funded through 500 Startups.<ref>{{cite news |last1=Chapman |first1=Lizette |title=After a Sex Scandal, 500 Startups and Its Former CEO Plan Their Next Acts |url=https://www.bloomberg.com/news/articles/2019-03-25/after-a-sex-scandal-500-startups-and-its-former-ceo-plan-their-next-acts |accessdate=2 July 2020 |publisher=Bloomberg |date=March 25, 2019}}</ref>
McClure later created a new venture capital fund, Practical Venture Capital, which aims to buy equity in companies he funded through 500 Startups.<ref>{{cite news |last1=Chapman |first1=Lizette |title=After a Sex Scandal, 500 Startups and Its Former CEO Plan Their Next Acts |url=https://www.bloomberg.com/news/articles/2019-03-25/after-a-sex-scandal-500-startups-and-its-former-ceo-plan-their-next-acts |accessdate=2 July 2020 |publisher=Bloomberg |date=March 25, 2019}}</ref>


==References==
==References==
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[[Category:Johns Hopkins University alumni]]
[[Category:Johns Hopkins University alumni]]
[[Category:American businesspeople]]
[[Category:American businesspeople]]
[[Category:People from Morgantown, West Virginia]]
[[Category:People from Columbia, Maryland]]

Latest revision as of 03:41, 10 June 2024

For other people named David McClure, see David McClure (disambiguation).
Dave McClure
McClure in August 2007
Born1966 or 1967 (age 57–58)[1]
West Virginia, United States
EducationJohns Hopkins University (BS)
Occupation(s)Entrepreneur, angel investor

David "Dave" McClure is an entrepreneur and angel investor based in the San Francisco Bay Area, who founded the business accelerator 500 Startups (now 500 Global) and served as its CEO until his resignation in 2017.[2][3] He founded Practical Venture Capital soon after, a new venture capital fund that would continue to work with companies he previously funded through 500 Startups.[4]

Biography

[edit]

McClure was born in Morgantown, West Virginia and grew up in Columbia, Maryland.[5] He graduated from Johns Hopkins University in 1988 with a Bachelor of Science in Mathematical Engineering.[6]

Technology startups

[edit]

McClure founded Aslan Computing, a technology consultancy, in 1994, and sold the company to Servinet/Panurgy in 1998. He subsequently worked as a technology consultant to Microsoft, Intel and other high-tech companies. McClure was director of marketing at PayPal from 2001 through 2004. He then launched and ran marketing for Simply Hired in 2005 and 2006.[7]

After leaving PayPal, McClure became a frequent investor in consumer Internet startup companies, investing in and advising more than 15 consumer internet startups, including virtual goods monetization and payments platform Jambool (acquired by Google in 2010) and US online education directory TeachStreet (acquired by Amazon in 2011). During the summer of 2009, McClure was acting investment director for Facebook's fbFund (a joint venture incubator/accelerator with prominent venture capital firms Founders Fund and Accel Partners), which provided early-stage capital to startups using Facebook Platform & Facebook Connect.[8]

In 2010, McClure founded 500 Startups (now 500 Global), a seed accelerator and related investment fund.[9]

McClure gained attention both for his opinionated blog 500 Hats (as of 2011 one of the ten most-read blogs on venture capital finance)[10] and as one of the so-called "Super Angel" investors[11] involved in the Angelgate controversy.[12][13]

Sexual harassment allegations

[edit]

In 2017, McClure was identified in a New York Times article, along with Sacca, about sexual harassment in venture capital. He was described as sending sexually inappropriate messages to a female investor, who later sought employment at his company.[14] In response, he stepped down from day-to-day management in a post titled "I'm a Creep. I'm Sorry".[15] He then denied the accusations and retracted his apology in another post that was then deleted.[16] A few days later, McClure severed all ties with 500 Startups, resigning as general partner as well.[17] Hours after McClure resigned, a fresh allegation surfaced against him, this time of sexual assault.[18]

McClure later created a new venture capital fund, Practical Venture Capital, which aims to buy equity in companies he funded through 500 Startups.[19]

References

[edit]
  1. ^ McClure, Dave. "late bloomer, not a loser. (I hope)". 500hats.com. Retrieved 2 September 2012.
  2. ^ "I'm a Creep. I'm Sorry. – 500 Hats". 500 Hats. 2017-07-01. Archived from the original on 2017-07-02. Retrieved 2017-07-02.
  3. ^ "Exclusive: Dave McClure resigns as general partner of 500 Startups funds". Axios. 2017-07-03. Retrieved 2017-07-03.
  4. ^ Aragon, Lawrence (March 18, 2020). "500 startups founder launches VC secondaries fund". Secondary Investors. Retrieved 2 July 2020.
  5. ^ "From The Vault Dave McClure (500 Startups)". www.startupgrind.com. Retrieved 2017-05-02.
  6. ^ "Venture capitalist Dave McClure plays the odds when picking his next investment". The Hub. 2015-06-04. Retrieved 2017-05-02.
  7. ^ "Dave McClure, Master of 500 Hats". Web 2.0 Summit. Archived from the original on 2016-04-01. Retrieved 2011-03-07.
  8. ^ "Dave McClure", LinkedIn profile.
  9. ^ Rosoff, Matt (February 11, 2011). "Exclusive: The Controversial Dave McClure Tells All". Business Insider.
  10. ^ Austin, Scott (January 20, 2011). "The Most-Read Blogs by Venture Capitalists". Wall Street Journal.
  11. ^ Saint, Nick (October 4, 2010). "Who Are The Super Angels? A Comprehensive Guide". Business Insider.
  12. ^ Maggie Shiels (September 23, 2010). "'Angelgate': A tech conspiracy?". BBC.
  13. ^ "After Quiet Dinner, Angels Get Indigestion". New York Times. September 22, 2010.
  14. ^ Benner, Katie (30 June 2017). "Silicon Valley Women, in Cultural Shift, Frankly Describe Sexual Harassment". The New York Times. Archived from the original on 1 July 2017. Retrieved 30 June 2017.
  15. ^ "I'm a Creep. I'm Sorry. – 500 Hats". 500 Hats. 2017-07-01. Archived from the original on 2017-07-02. Retrieved 2017-07-02.
  16. ^ Tang, Ashley (July 16, 2017). "Cheryl Yeoh: Why now, and why I'm not pressing charges". The Star. Archived from the original on 16 July 2017. Retrieved 2 July 2020.
  17. ^ "Exclusive: Dave McClure resigns as general partner of 500 Startups funds". Axios. 2017-07-03. Retrieved 2017-07-03.
  18. ^ Solon, Olivia; Levin, Sam (2017-07-04). "Top Silicon Valley investor resigns as allegation of sexual assault emerges". The Guardian. ISSN 0261-3077. Archived from the original on 2023-11-18. Retrieved 2023-11-18.
  19. ^ Chapman, Lizette (March 25, 2019). "After a Sex Scandal, 500 Startups and Its Former CEO Plan Their Next Acts". Bloomberg. Retrieved 2 July 2020.
[edit]
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