How VC as a system helped transform nonprofit to major internet infra company

1987: UUNET began as an obscure Northern Virginia nonprofit, founded by Rick Adams, a government engineer at the Center for Seismic Studies. The mission was to provide internet access to private-sector scientists excluded from the government network.

Early Days:

1992:

1993:

Late 1993:

1994:

1995:

Results:

Key Players:

The story highlights how venture capital as a system helped transform a nonprofit into a major internet infrastructure company, despite individual missteps along the way. It exemplifies the value of professional management, the importance of competitive pressure in fundraising, and VCs' ability to weather early crises.