Dolce Starts Verivue
Former Juniper Networks Inc. (NYSE: JNPR) executive and Light Reading Mover & Shaker Jim Dolce is at it again. (See Top Ten Movers and Shakers in Telecom and our 2000 interview: Level 3 Intros Wavelength Service.)
We caught up to Dolce at his new startup, Verivue Inc., in Westford, Mass., via phone this week, and he wasn't too keen on tipping his hand on his new company's activities. "I'm not ready to discuss the company," he said. Dolce said the time to talk "won't be until late summer to early fall."
Dolce, along with former Unisphere Networks CFO Mark Nasiff and Sonus Networks Inc. (Nasdaq: SONS) founder Rubin Gruber are keeping the lid on Verivue for now; neither could be reached for comment.
No one we've reached has a specific lock on what Dolce and company are building. One source says it is video-related, and Verivue's executive team shares backgrounds spanning the video hardware, software, and networking hardware space.
The former executive VP certainly has the financial might necessary to start a company, and some sources say Verivue is self-funded. Recall that Dolce netted a cool $14.5 million in 2005 just for selling off his Juniper shares prior to his departure from the company. (See Juniper's Dolce: Ka-Ching!.)
Dolce is a seasoned entreprenuer, as the salty old VCs like to say. He arrived at Juniper as part of the company's $740 million acquisition of Unisphere Networks, where he was CEO. (See Juniper Nabs Unisphere for $740M.) And Dolce arrived at Unisphere because that company bought Redstone Communications, a company he founded, for $500 million.
Before Redstone, Dolce was VP and general manager at Cascade Communications, which he joined when Cascade acquired Arris Networks, another he founded, for $175 million.
Sonus founder Rubin Gruber is also a member of the Verivue team. Gruber's past involves founding a startup called VideoServer that delivered hardware- and software-based solutions for video conferencing, so his involvement in a new video-related venture makes sense.
Both Dolce and Gruber have ties to Boston area VC firm Matrix Partners , the company that funded Dolce's Redstone Communications, so it won't be surprising if that's one of the first names that comes up should Verivue start looking for funding.
— Raymond McConville, Reporter, Light Reading