Newsweek Daily Beast CEO Stephen Colvin has decamped from his publishing bastion to take a gig as executive-in-residence at Lerer Ventures. As VC titles go it’s one of the less well-defined, but an announcement from the firm offered a little detail, saying that Mr. Colvin will offer “strategic input” to the tech startups in the Lerer Ventures’ stable.
Hey, we can think of one startup in particular that might be able to use Mr. Colvin’s know-how–NowThis News, the viral video network currently being cooked up downtown.
Lerer Ventures’ Eric Hippeau said in a statement:
“Stephen is a seasoned executive with a proven track record of growing and operating media brands. As executive-in-residence, Stephen will be working directly with some of our portfolio companies, from organizational structure and positioning to sales and revenue strategies, as well as helping us evaluate new investment opportunities.”
Mr. Colvin added that, “I look forward to rolling up my sleeves and working with them.”
According to Ad Age, which broke the story of Mr. Colvin’s departure, he’ll be replaced at Newsweek Daily Beast by ad exec Baba Shetty.