Now that Ken Lerer is no longer running Huffington Post 24/7 — those duties are now Betsy Morgan’s — what’s he up to? Some of his time will be spent at Betaworks, where he’ll be a vice chairman — and, we understand, an investor. (He’s also still HuffPo Chairman).
What is Betaworks? A “business creation platform.” What’s a “business creation platform”? Our understanding is that it’s part holding company, part incubator — except that the Betaworks team (John Borthwick, Andy Weissman, and David Shen) hates the term “incubator”.
Essentially, there are two parts to the company: First, the three men have made a series of angel/early stage investments in local startups (notables include Fotolog, Tumblr, Outside.In). That’s the holding co. part. And they are hiring a small staff to try to cross-fertilize projects between the startups, or take technology that began at one startup and turn it into something else. That’s the incubator part. More news to come, we gather.