Blog Post

Microsoft Spins Off First IP Venture, Social Networking Service Wallop

Microsoft has formed a new social-networking company based Called Wallop, based on technology created in-house, the first spinoff under an intellectual-property program called Microsoft IP Ventures that begun last May.
The ventures program has been tasked with combing through the company’s vast IP portfolio for technologies that could be commercially viable and then licensing those technologies out to start-ups, or incubating companies in-house.
Wallop is being funded by Microsoft and venture firm Bay Partners…A former MSFT employee, 38-year-old serial entrepreneur Karl Jacob, is the CEO of the new firm. The research behind Wallop’s technologies began in 1999 when Microsoft began its research on social-networking. Those efforts were refined into the Wallop project inside Microsoft in 2002, and the Microsoft’s researchers have been tinkering with the product ever since. At the last tally, around 200,000 users were testing the product within Microsoft’s research facilities.
More in the release here