Jim Balsillie, who was recently Research In Motion’s co-CEO and co-Chairman, is back in the news for his
once side-project current company. Igloo inc., to which Balsillie holds the chairman role, is again catching the eye of Canadian venture capitalists.
Igloo, which is a corporate social networking startup, received $5 million in additional funding from the provincial government’s Ontario Emerging Technologies Fund. This is adding to the previous $4 million Igloo received from RBC Venture Partners when first founded in 2008.
Igloo’s chief executive, Dan Latendre, said 2011 was a “breakout year” for the company, noting such achievements as 80% growth in licence revenue and 144% growth in monthly recurring revenue. When Igloo first launched, Balsillie and former RIM co-CEO, Mike Lazaridis, together donated $30 million.
Andrew Dixon, former Canadian marketing chief for Microsoft Corp., was recently hired as vice president of marketing and operations last September. Perhaps we might see Balsillie move Dixon to RIM? That is since a Chief Marketing Officer is needed to help with re-branding the BlackBerry platform.