Cambrian House Sells Its Community to VenCorps
Cambrian House the home of Crowdsourcing is no longer in the community development business. In fact they have sold their community along with their platform called Chaordix to a new company called VenCorps which is funded by Spencer Trask
“The Cambrian House crowdsourcing community has attracted 50,000-plus smart, creative people who work together to turn ideas into real, successful businesses,” said Michael J. Sikorsky, chief executive officer of Cambrian House. “We really are built (the CH Community) to flip. I’m the only guy who says that out loud. I don’t know why everyone lies.”
Vencorps is a multi-million dollar venture capital fund that leverages the wisdom and participation of the crowd to build better startups. VenCorps is partner with Spencer Trask (since 1870 funded the light bulb, GE, saved the New York Time from bankruptcy and recently first AIDS vacine, Stem Cell, The company that made the Internet possible by exploding fiber optic capacity with the first wave division multiplexing systems)
Sean Wise, a Collaborative Venture Partners founder, says he has high hopes for the site. “No matter how good a V.C. I could be,” he said, “I could never be smarter than the wisdom of a collective community.”
VenCorps will be the first community that enables the crowd to find, filter and fund startups. Members compete in the Startup Showdown for $50,000 initially, and up to $5 million through VenCorps partners over the lifecycle of a startup.
Cambrian house will continue to operate more like a holding company or a VC fund, developing projects that have been in the works for some time like : Gwabs, Greedy or Needy, Knottle, FilmRiot and Chaordix.
“People (just) hated the the vikings” said Michael J. Sikorsky.