Palo Alto, CA, 12 December 2011

Today is an exciting day at Archimedes Ventures. We have some announcements to make.

Firstly, going forward we will be known as Archimedes Labs LLC. This is to make clear that we are an incubator, not a venture capital company.

Secondly, we can now announce that in August this year I established a managing entity – Escondido Labs LLC. It has been the sole manager of Archimedes since that time.

Thirdly, we can reveal that in the future investors will be added at Archimedes Labs as partners in the entity.

Finally we are announcing the following members (aside from myself) at Escondido Management LLC:

Kambiz Hooshmand – Former senior executive at Stratacom which Cisco acquired for over $4 billion in 1996; Cisco SVP; and CEO at Applied Micro (AMCC), Kambiz is now CEO and a General Partner at Escondido Management and runs the management of Archimedes Labs.

Patrick Gannon, a founder at Lending Club, Patrick is Chief Investment Officer at Escondido Management.

Kevin Doerr, VP and Chief of Staff (Products) at Yahoo.

Matt Kaufman, VP Product and Engineering at Oodle.

Bess Ho – Mobile Architect, Lecturer & Book Author.

See the team page for more details.

In the first 11 months of 2011 we have incubated just.me, entered into an acceleration agreement as a co-founder at Blurtt and invested in Quixey, Incident Technologies and Broomstick Productions.

In 2012 we intend to do more incubations and accelerations.

Happy Holidays to all….