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NET JOURNAL
By Scott Kucirek
MARCH 31, 2000


From Grubby Startup to a Night on the VC's Yacht

Glamorous investors' meetings are a surreal perk of the enterpreneur's job

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For the last two days, I've been at the Vanguard Venture Partners' annual meeting. (Vanguard is one of our investors.) I felt a little dazed as I gazed out over the San Francisco Bay, chatting with my wife and my partner, Juan Mini, from a ship chartered for the occasion. We first talked to Vanguard partner Don Wood only a year ago. Our online real-estate brokerage, zipRealty.com, was little more than a business plan (and too-long, as we learned when we first sought funding). The chasm between grubby startup and thriving concern seemed unbridgeable at the time. This evening didn't do much to dispell that sense. Just how did we get here from there?

We arrived at Pier 39 in San Francisco. The evening was gorgeous. Heralds with trumpets greeted us as we boarded the 150-foot San Francisco Spirit. I was so happy that I'd gotten my suit cleaned and my shoes polished.

No sooner were we inside than a waiter handed us champagne. However, my wife is pregnant, and I have given up alcohol for Lent. So I dashed off to the bar for juice instead. The room was packed. The crowd, eclectic and international. It seemed like another social outing for San Francisco sophisticates. Under the glitter, it was all business, though.

REST ASSURED. Juice in hand, I ran into the Vanguard partners, who were excited to see us (and us them, since we didn't know anybody else). They lost no time in introducing us to some of their key investors. Clearly, we weren't invited just to enjoy the view. Our mission was to reassure these wealthy and influential people that Vanguard's investments (including our zipRealty) were on their way to success. One was an ex-CEO from Ford, another a CEO of an aviation company, and entrepreneurs from companies in Vanguard's portfolio.

We quickly gleaned that Vanguard was a big reason that these folks were so prosperous. We felt the weight of responsibility. Well, not too much. The perks of the job were too good.

Later that night, we went up to the bridge. The captain let me have a turn at the wheel, and we swapped Navy stories (he had spent nine years in the British Navy, and I'm an old U.S. Navy man, myself). My wife finally put an end to the sailor talk, and we headed for dinner. It was a five-star experience, followed by a magic show. Alas, when the ship pulled into dock, we had no time to rest. Juan and I had to be back in the city in eight hours to make a presentation at Vanguard's annual meeting.

CINDERELLAS. The two of us arrived at 7:30 a.m. at the Ritz-Carlton, one of San Francisco's most elegant hotels. We were the only ones not wearing suits. (We almost never do.) We figured the people were more interested in our company than our outfits. First, the partners made their presentations. No wonder all those people were so happy. Vanguard's funds did shockingly well. We gave a 20-minute overview on our company and answered a lot of questions about our business model. The rest of the day, we watched other presentations, ate, and talked.

Then it was all over. Now I know how Cinderella felt when the clock struck midnight. We turned back into ordinary entrepreneurs. Juan and I went to the office to catch up on all the work that awaited us. Thinking about other investor meetings coming up later in the year, we concluded that we'd rather be at the office. Still, what are you going to do? Hobnobbing with the big money is part of the job. See you in two weeks.


Scott Kucirek is president and co-founder of zipRealty.com, an online real estate brokerage. The company's Internet site and online real estate agents let people complete the entire purchase or sale of a house via the Web. The company's Web site is www.zipRealty.com, and you can E-mail Scott at Scott@zipRealty.com.




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