TechCrunch’s Erick Schonfeld introduced Fred Wilson of Union Square Ventures at Disrupt this morning as an investor who’s been very involved in social companies with large valuations.
The first success for Union Square Ventures wasn’t Foursquare, Twitter or Zynga though, says Fred Wilson.
“Everyone says Twitter and Zynga,” says Wilson. “But the first defining investment we made was Delicious back in 2005.”
“We built an investment thesis in 2004 before we went out and raised the money [for Union Square Ventures], and that has been very narrow and specific,” he says. “If [a business] idea fits inside that investment thesis, then we turn to the team. And if the team fits too, that’s kind of the magic.”
Delicious was the first company to fit that mould, he says.