Tige Savage

Last updated
Tige Savage
Born (1968-09-30) September 30, 1968 (age 50)
Boulder, Colorado, United States
NationalityAmerican
Alma mater University of Michigan
OccupationCo-founder, Managing Partner, Investor

Tige Savage (born September 30, 1968) is an American investor, co-founder and managing partner of Revolution LLC, a principal investment firm based in Washington, D.C., which has investments in companies such as RunKeeper, Homesnap, Booker, Framebridge, Busbud, BenchPrep, and Insikt. He was a key investor in LivingSocial in its founding years. [1]

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the most populous city is New York City. Most of the country is located contiguously in North America between Canada and Mexico.

An investor is a person that allocates capital with the expectation of a future financial return. Types of investments include: equity, debt securities, real estate, currency, commodity, token, derivatives such as put and call options, futures, forwards, etc. This definition makes no distinction between the investors in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns a stock is a shareholder.

Revolution LLC is an American investment firm based in Washington, D.C., founded in 2005 by Steve Case, Donn Davis, and Tige Savage. Notable investments include LivingSocial and Zipcar.

Contents

Career

Savage was an executive at Riggs National Corporation in the mid-1990s; he simultaneously served on the board of directors of Allbritton Communications Company. From 1998 to 2000, he managed technology and media sector investments as executive vice president of Riggs Capital Partners. [2]

From 2001 to 2003, Savage managed investments in technology and media companies as vice president of Time Warner Ventures. [3]

In 2005, Savage co-founded Revolution with partners Steve Case and Donn Davis; [4] Savage leads Revolution’s venture capital investing activities as managing partner of Revolution Ventures. [5]

Steve Case Businessman and former CEO of AOL

Stephen McConnell Case is an American entrepreneur, investor, and businessman best known as the former chief executive officer and chairman of America Online (AOL). Case joined AOL's predecessor company, Quantum Computer Services, as a marketing vice-president and became CEO of the company in 1991. Since his retirement as chairman of AOL Time Warner in 2003, he has gone on to invest in early and growth-stage startups through his Washington, D.C. based venture capital firm Revolution LLC. Case authored The Third Wave: An Entrepreneur's Vision of the Future which became a New York Times bestselling book in 2016. Case recently gave a fireside chat at TechCrunch Disrupt NYC, on May 16, 2017, titled "Building Silicon Valley Outside of the Valley."

In 2011, Savage was named one of Washington, DC’s “100 Top Tech Titans” [6] by Washingtonian Magazine and in 2013 he was named Financier of the Year at the Northern Virginia Technology Council Annual Awards. [7] Savage has been interviewed by The Wall Street Journal, [8] Business Insider, [9] MIT Technology Review, [10] The Motley Fool, [11] and This Week in Venture Capital [12] about Revolution’s investment philosophy as it pertains to LivingSocial and Zipcar.

<i>The Wall Street Journal</i> American business-focused daily broadsheet newspaper based in New York City

The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City. The Journal, along with its Asian and European editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The Journal has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser.

<i>Business Insider</i> Financial and business news website published by Insider Inc.

Business Insider is an American financial and business news website published by Insider Inc. It operates international editions in the UK, Australia, China, Germany, France, South Africa, India, Italy, Indonesia, Japan, Malaysia, Netherlands, Northern Europe, Poland, Spain and Singapore. Several International editions are published in local languages: Chinese, Dutch, French, Italian, German, Polish and Japanese. It is owned by the German publishing house, Axel Springer SE.

LivingSocial

LivingSocial is an online marketplace that allows its registered users to buy and share things to do in their city. Formerly headquartered in Washington, D.C., LivingSocial had roughly 70 million members around the world in 2013. The company shrank from a peak of 4,500 employees in 2011 to about 200 in 2016. LivingSocial was purchased by Groupon in 2016.

Savage was credited for his role in developing LivingSocial's strategy in a profile of the company in The Washington Post that same year. [13] In 2012, he wrote an online review of e-commerce technology platforms. [14]

<i>The Washington Post</i> Daily broadsheet newspaper published in Washington, D.C.

The Washington Post is a major American daily newspaper published in Washington, D.C., with a particular emphasis on national politics and the federal government. It has the largest circulation in the Washington metropolitan area. Its slogan "Democracy Dies in Darkness" began appearing on its masthead in 2017. Daily broadsheet editions are printed for the District of Columbia, Maryland, and Virginia.

Life and education

Savage holds a Masters in Business Administration from the University of Michigan's Ross School of Business and a Bachelor of Arts degree from James Madison University. He was born in Boulder, Colorado. [2]

Board seats

Savage currently holds seats on the Board of Directors of Resolute Innovation [15] , LivingSocial, [16] Booker, [17] Homesnap, OrderUp, and Framebridge among other companies. Previous Board seats include Zipcar and Flexcar (Zipcar) [18] (acquired by Avis), HelloWallet [19] (acquired by MorningStar and most recently by KeyCorp [20] ), and Revolution Money, [9] which was acquired by American Express. [21]

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Accel (venture capital firm) Venture capital firm

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References

  1. Suster, Mark (13 February 2011). "Revolution Co-founder Talks Living Social, Zipcar, Steve Caes, And Groupon Super Bowl Ads". Business Insider. Retrieved 13 January 2015.
  2. 1 2 "Tige Savage". Revolution. Retrieved 2012-09-15.
  3. Foster, Richard (28 January 2012). "Divine intervention 'Super angels' formalize their investments in startups". Virginia Business. Retrieved 13 January 2015.
  4. Rusli, Evelyn M. (2011-04-04). "In Race With Groupon, LivingSocial Raises $400 Million". The New York Times.
  5. Reeder, Robert. "Steve Case, right, meets in his District office with two of his Revolution executives". The Washington Post.
  6. "Washington's Tech Titans | People & Politics". Washingtonian. 2009-05-01. Retrieved 2012-09-15.
  7. "Northern Virginia Technology Council Congratulates 2013 Greater Washington Technology CFO Award Winners". nvtc.org. North Virginia Technology Council.
  8. Savage, Tige (13 October 2013). "Savage: Live By Your Numbers". The Wall Street Journal.
  9. 1 2 Mark Suster (2011-02-13). "Revolution Co-founder Talks Living Social, Zipcar, Steve Case, And Groupon Super Bowl Ads - Business Insider". Articles.businessinsider.com. Archived from the original on 2013-01-19. Retrieved 2012-09-15.
  10. Regalado, Antonio (4 November 2013). "It's All E-Commerce Now". MIT Technology Review.
  11. Sankin, Aaron (6 April 2014). "Why Tech Startups Should Consider Abandoning Silicon Valley". The Motley Fool.
  12. "Venture Capital - This Week in Venture Capital - Tige Savage Co Founder of Revolution". YouTube. 2011-02-10. Retrieved 2012-09-15.
  13. Steven Overly and Thomas Heath (2011-02-24). "At IPO-ready LivingSocial, you get the deals — and it gets the riches". The Washington Post. Retrieved 2012-09-15.
  14. "Online Services: the Next E-Commerce". Revolution. 2012-03-19. Retrieved 2012-09-15.
  15. "Steve Case's Revolution backs Resolute Innovation to connect companies with R&D – TechCrunch". techcrunch.com. Retrieved 2018-03-29.
  16. "LivingSocial | CrunchBase Profile". Crunchbase.com. Retrieved 2012-09-15.
  17. "Booker - Management Profile". www.booker.com. Booker.
  18. "Tige Savage | CrunchBase Profile". Crunchbase.com. 2011-10-19. Retrieved 2012-09-15.
  19. Revolution Team (29 May 2014). "Hello wallet Acquired by Morningstar". Revolution LLC.
  20. "Key to acquire HelloWallet from MorningStar in latest fintech bid". Crain's Cleveland Business. 2017-05-31. Retrieved 2017-08-03.
  21. "American Express Completes Acquisition of Revolution Money". About.americanexpress.com. 2010-01-15. Retrieved 2012-09-15.