June 19, 2008

Matt Cohler Joins Benchmark Capital As General Partner

MENLO PARK, Calif., June 19 /PRNewswire/ -- Benchmark Capital, an early-stage technology venture capital firm, today announced that Matt Cohler, a senior executive at Facebook, will join the firm as a general partner. Mr. Cohler will join Benchmark in the fall and will maintain a relationship with Facebook, serving as special advisor to Facebook's founder and chief executive officer Mark Zuckerberg and to its senior management team.

Currently, Mr. Cohler, 31, serves as vice president of product management at Facebook, responsible for overseeing the company's product development organizations. He joined Facebook in early 2005 as one of the first five employees hired by the company's founders and its first external executive hire, and he's been credited with helping drive Facebook's strategy, organizational growth and product direction. Previously, Mr. Cohler served as vice president and general manager at LinkedIn, where he was a member of the company's founding team.

"Matt truly stands out in his generation as someone with the potential to be a great venture capitalist," said Peter Fenton, general partner at Benchmark Capital. "His experience at both Facebook and LinkedIn speaks to his instincts for new opportunities and to his ability to provide counsel to exceptional entrepreneurs, such as Mark Zuckerberg and Reid Hoffman. Matt has set his sights extremely high, and at his young age has already helped to fundamentally change the face of the Internet. We could not be more thrilled to add Matt's talents, relationships and passion to Benchmark."

In his new role, Mr. Cohler will identify investment opportunities in Internet-related services, in addition to working closely with companies across the firm's portfolio.

"It is difficult to leave my full-time role at Facebook, but Benchmark provides an extraordinary opportunity to build on my experience helping great entrepreneurs and to work side-by-side with some of the best investors, technologists and strategists I have ever known," said Mr. Cohler. "The values, investment philosophy and unique team structure at Benchmark are an ideal fit for me. I am enormously excited about the opportunities that lie ahead and grateful that I can maintain my close ties to Facebook, one of the most exciting companies in the world, as it continues to evolve and grow."

"Matt has pursued the ideal path to be a great venture capitalist," said Reid Hoffman, chairman and president, Products at LinkedIn. "His natural abilities, together with his operational experience at LinkedIn and Facebook, are the exact ingredients entrepreneurs seek when partnering with an investor."

Before LinkedIn and Facebook, Mr. Cohler served as a consultant in the Silicon Valley office of McKinsey & Company and worked in Beijing at AsiaInfo Holdings, Inc., a telecom solutions provider that built China's Internet infrastructure, prior to the company's initial public offering.

Mr. Cohler earned his Bachelor of Arts degree with honors and distinction from Yale University, where he studied music theory, computer science, and finance.

About Benchmark Capital

Benchmark Capital, a leading venture capital firm, was founded in 1995 to help talented entrepreneurs with original ideas build successful technology companies. Benchmark's general partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes high-profile start-ups like Infinera, MySQL, OpenTable, Second Life, Tellme, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat. The firm manages nearly $2.8 billion in committed venture capital. For more information on Benchmark Capital, visit its website at http://www.benchmark.com/.

    EDITORIAL CONTACT:    Stephanie Gnibus    GMK Communications for Benchmark Capital    408.776.9727    [email protected]  

Benchmark Capital

CONTACT: Stephanie Gnibus of GMK Communications, +1-408-776-9727,[email protected], for Benchmark Capital

Web site: http://www.benchmark.com/