Media founder moves to venture capital firm

Larry Kramer, former president of CBS Digital Media and founder of MarketWatch, has joined Polaris Venture Partners as a senior advisor. Curious that someone who'd...

Larry Kramer, former president of CBS Digital Media and founder of MarketWatch, has joined Polaris Venture Partners as a senior advisor. Curious that someone who'd made a career in media would move over to finance, isn't it?

"Remember, I also took a company public, which is another thing that entrepreneurs have to do," Kramer told me. "So I can help with companies, giving advice on how to work with media and the machinations of a start up company."

Kramer will be working with Polaris' digital media clients. We talk a lot about the importance of digital technology to the future of media. But it's reassuring that there are people out there (besides Rupert Murdoch) who are investing in that future.

"We're still in the thick of a major sea change as the media business evolves and embraces the internet," said Polaris general partner Alan Spoon in a statement. "Larry brings a wealth of experience developing successful new media strategies that will prove invaluable to Polaris and our portfolio companies."

Kramer's approach is also forward-looking, which doesn't mean that old media forms will simply die out (today's TV sets don't look like those from 50 years ago, Kramer points out).

"What you're looking at is the reinvention of the storytelling process," adds Kramer. "We have to give these new media companies an idea of where they are in history. Any of these companies could be a major player in ten years."

For PR pros, Kramer thinks the Internet has the potential to dramatically enhance the capabilities of guerrilla marketing because the Web can reach everyone.

And final thought about MarketWatch becoming a part of News Corp with the rest of Dow Jones?

"When we built [MarketWatch], we imagined it as a multimedia company," says Kramer. "The crisis in media surrounds the companies that aren't in multimedia outlets. News Corp is heavily in every form of media. I think [MarketWatch's] future is even brighter."

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