"Eric Hippeau" is a partner at Lerer Ventures, a New York City based angel fund specializing in financing technology startups. Prior to this, Hippeau was the CEO of the Huffington Post which he joined in June, 2009, after investing through Softbank Capital/SoftBank Capital and taking a Board seat in 2006. Hippeau joined HuffPost in June 2009. Hippeau is a co-founder of NowThis News.

Prior to joining HuffPost, Hippeau was managing partner at Softbank Capital/SoftBank Capital. Hippeau joined Softbank Capital/SoftBank Capital in 2000 from Ziff-Davis, Inc., where he was Chairman and CEO. Hippeau joined Ziff-Davis in 1989 as Publisher of PC Magazine. He became President in 1991 and Chairman and CEO in 1993. In 1995, SoftBank acquired Ziff-Davis, and Hippeau continued in the role of CEO until 2000, when the company was sold. Hippeau was also responsible for founding ZDTV, a cable channel dedicated to technology and the Internet.

Hippeau was President of SoftBank International Ventures, where he established SoftBank’s international private equity funds and expanded them into Europe, Latin America and Asia. He was also SB Capital’s board representative for its direct investments in companies, such as Yahoo!, Geocities and CNET.

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Third-quarter results were in line with those the company indicated in its recent announcement. As we announced, several market factors, including margin pressures on OEMs and the Asian economic situation, are continuing to affect our financial performance. This has led us to take a number of steps to reduce and control costs and better position the company for the future.

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We are pleased with the company's progress in unlocking value for our shareholders. We believe that the value of ZDNet will be enhanced by its independent status, and are looking toward completing this transactional process before mid-year.

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