Former Razorfish CEO Gets $50M to Build Social BizNetwork

Jeffrey Dachis, the former CEO of digital ad agency Razorfish, has landed $50 million in funding from VC firm Austin Ventures, to lead an Austin-based social networking software company for corporations. As of today, the startup doesn’t have a name yet, Austin Ventures says; no word on when we’ll see one.

Dachis will be the CEO of a company that will make social networking software for professionals–a la LinkedIn. His resume is passable: he founded Razorfish (now Avenue A/Razorfish) in 1995, was named Ernst and Young’s Entrepreneur of the Year in 2000, and grew the company to 2,200 employees and $250M annual revenue by the time he left in 2001. It’s now in the hands of Microsoft (MSFT), which paid $6 billion for it in 2007.





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