I'm starting a new company

This appeard in the IBJ today so I thought I'd better share it with you all

TECHNOLOGY
ExactTarget co-founder launches blog software startup


Chris Baggott, co-founder of fast-growing local e-mail marketing firm
ExactTarget, has quit his day job to form a new software company.
Compendium Software will attempt to standardize the blogging process for
companies and turn it into a cornerstone of their marketing. Baggott was
ExactTarget's chief marketing officer. He formed the company along with
its CEO, Scott Dorsey, in 2000. By 2005, ExactTarget had grown to $19.7
million in annual revenue, making it the city's third-fastest-growing
private company, according to IBJ's 2007 Book of Lists.

Baggott remains an ExactTarget board member and shareholder. He said
he'd rather work with early-stage startups than mature firms.
ExactTarget now has more than 200 employees. "This is in no way about a
lack of confidence in what's going on at ExactTarget," Baggott said.
"It's on a great track. It just got to a point where, to me, it's
becoming a big, important company, and they can hire people to do my job
better than I can." At ExactTarget, Baggott wrote a blog about marketing
that has been recognized as "Best of the Web" by Forbes magazine. He
said he's been "noodling" the idea of launching a blogging software firm
for about a year. In January, he raised $250,000 from a dozen local
angel investors to launch Compendium Software. He used the Indiana
Economic Development Corp.'s venture capital tax credit incentive to
help entice them. For now, Compendium has no offices. "The blogging
universe looks very similar to the e-mail universe when ExactTarget
entered it," Baggott said. "There's no question there's a huge pent-up
demand for good blogging tools." Baggott said its software will allow
companies to easily offer branded blogs, as well as monitor and control
their content.

Comments

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It just got to a point where, to me, it's
becoming a big, important company, and they can hire people to do my job better than I can.

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