Share Ventures, an LA-based studio for company creation, is MoviePass co-founder Hamet Watt’s next act – TipsClear
About eight years ago, Hamet Watt and Stacey Spikes MoviePass was launched, a subscription-based movie ticketing service, that captured investors’ minds and dollars and brought thousands of cinephils a very good deal for an all-you-can-get-a-true deal.
Watt, who came to MoviePass As an entrepreneur in residence with True Ventures, founded the first brand and product placement startup NextMedium and also spent time as a board partner at Upfront Ventures. Now, serial entrepreneurs and startup investors are combining their two career paths under the aegis of Share Ventures.
“I feel like I’m put here to do it,” says Watt. “I like to solve problems with design and entrepreneurship. I was not completely itchy as an investor in myself.
With $ 10 million in financing from a group of investors, including Upfront Ventures, Alpha Edison, general partner and founder of True Ventures, And Share Ventures, a Korean family office, will launch between two and four companies per year.
Watt says the new studio will focus on what he calls “human performance”. According to Watt the business will use a mix of technology and human interaction to create services targeting fitness, nutrition and mental health.
Share Ventures’ initial focus will be on two core areas, the future of life and the future of work. Within those two areas, the company will focus on developing businesses that enable growth of personal purpose, mental and physical growth, and personal and professional growth according to Watt. And
For Watt, the studio model represents the next iteration of startup investment. “We think the studio is going to lead,” he says.
Instead of investing in companies and management teams that have unknown amounts, Watt believes that the studio will be able to build discrete companies much faster in the same way that today are based on new products and services.
“We have a device in the company building stack,” said Watt. “These are devices that are usable that third parties have developed and are internal tool stacks.”
Watt says that Share Ventures will operate as a holding company with shared equity among employees in the company. “When we work on portfolio companies and build dedicated teams, there is a generous pool to encourage talent.”
In some ways, the model is no different from Bill Gross’s idealism, Pasadena, California. It is an incubator company a few miles from the home base of Share Ventures Los Angeles. Another inspiration is @Ventures, the dot-com era company that has created many different portfolio companies. “Our investors are getting all the companies that we build into,” Watt says.
The company’s workforce consists of ten people who help companies create their first slate.
Watt began talking to investors about the idea in 2018 and tried to form his first few companies in the bulk of 2019.
“We do a lot of experiments, we generate a lot of ideas, ”says Watt. “The number of goals we set before launching a company is important. “