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<table class="image-container float_right" width="200"><tr><td><div class="image"></div>Business Insider Video</td></tr></table>Last year, as his startup <a href="http://www.businessinsider.com/charles-forman-founder-omgpop-2012-3">OMGPOP was getting acquired for $180 million</a>, <keyword id="1747672" type="UNKNOWN" weightage="60" keywordseo="Charles-Forman">Charles Forman</keyword> announced a new venture.
Forman, Threadless co-founder <a href="http://www.businessinsider.com/if-youre-a-non-technical-founder-you-will-always-make-subpar-products-that-fail-slowly-2012-3">Jacob Dehart and OHours founder Nate Westheimer</a> were quietly working on a photo startup called <keyword id="1660163" type="UNKNOWN" weightage="60" keywordseo="Picturelife">Picturelife</keyword>. The idea, which the <a href="http://allthingsd.com/20130320/after-two-years-in-the-works-picturelife-comes-to-life/">three spent two years building</a>, was to put "all your pictures in one place."
Now Picturelife has launched, and the end result works a lot like Evernote. When users create Picturelife accounts, they download a Mac or Windows version, as well as an iPad or iPhone app. Picturelife routinely pulls every image file from everywhere without being prompted. The images can then be viewed on multiple devices, and everything is made private by default. Its goal is to be a better solution than iPhoto, and more secure than Instagram.
Picturelife uses a freemium business model. The first five gigabytes are free, after which you can pay for either 100 GB or 300 GB monthly or annually.
AllThingsD's Liz Gannes has done a <a href="http://allthingsd.com/20130415/picturelife-tackles-simple-photo-storage/">thorough review of Picturelife</a>. It doesn't sound like it will solve all of your photo organizational problems, but it has promise:
"Picturelife does have a lot of the same features as similar services," Gannes writes. "It also costs more than some (though less than Dropbox). And as a 'freemium' service that is charging customers, it has some new-service kinks it needs to work out. But it offers a few features the others don’t. It performs simple imports from your other photo sources, including iPhoto, Flickr, Tumblr, Facebook, Instagram and SmugMug and iPhoto. It has pretty clear-cut privacy controls, which you might appreciate if you’re fed up with the way Facebook handles privacy."
Here's <a href="http://allthingsd.com/20130415/picturelife-tackles-simple-photo-storage/">Gannes' full review of the service</a>, and here's a <a href="https://picturelife.com">link to Picturelife</a> if you want to try it out.

After 2 Years In Stealth Mode And A $180 Million Acquisition, OMGPOP Founder Debuts New Startup, Picturelife

<div class="KonaFilter image-container float_right"><div class="image on-image">REUTERS/Charles Platiau</div></div>Flavored booze. "Millennials" dig it, "purists" hate it, and now the CEO of one of America's most iconic spirits has <a href="http://online.wsj.com/article/BT-CO-20131204-709891.html">weighed in</a>.
Paul Varga, the chief executive of Brown-Forman, says that drinkers can expect the Jack Daniel's brand to remain "conservative."
"When you're dealing with the Jack Daniel's trademark, you're going to be extra careful," Varga said on an analyst call (<a href="http://online.wsj.com/article/BT-CO-20131204-709891.html">picked up by the Wall Street Journal's Ben Fox Rubin</a>). "I suspect we'll have more ideas that we'll treat just as conservatively."
Well, it depends what your definition of conservative is. As Rubin notes, Jack Daniel's just rolled out a new seasonal Winter Jack that blends the spirit with "apple cider liqueur and spices."
And there's the Tennessee Honey brand. Which, in your humble booze correspondent's opinion, is the Fall Out Boy of liquor.
According to Varga, Tennessee Honey brand has been hugely successful, and he doesn't see JD drinkers coming down with the kind of "flavor fatigue" seen with <a href="http://www.businessinsider.com/sriracha-flavored-vodka-will-soon-be-sold-in-stores-2013-12">vodka</a> (and <a href="http://www.businessinsider.com/in-defense-of-flavored-gin-2013-10">maybe gin</a>).
But to a certain extent, you've got to give the people what they want.
<a href="http://online.wsj.com/article/BT-CO-20131204-709891.html">Read the full report at the Wall Street Journal »</a>

Jack Daniel's Has Weighed In On The Raging Flavored Liquor Debate

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Daniel Goodman via Business InsiderThumbs up all around after Yext told employees it raised $27 million. Imagine what they'd be doing after an acquisition?</div></div></div>Bryan Goldberg and his three co-founders had to wait eight torturous months to learn the fate of their startup.
Technology sites were <a href="http://www.businessinsider.com/turner-is-close-to-buying-bleacher-report-for-200-million-2012-6">reporting acquisition rumors</a> about their company, Bleacher Report, and each story made the founders cringe. 
The rumors were true: Bleacher Report was on the block. Turner Media, owner of CNN, was interested in buying the sports media site. 
But no paperwork had been signed and Bleacher Report didn't want to spook the potential buyer.
"It went from something that seemed out of reach, to something that was remotely possible, to something we thought might happen, to something we thought would probably happen, to something that seemed almost certain," Goldberg says. "You go to bed every night thinking there's a really good chance this deal is going to go through, and knowing at any minute it could come apart for the smallest, most abrupt of reasons."
Ultimately, Turner purchased Bleacher Report for ~ $200 million. After raising $40.5 million, each founder only owned a sliver of the company. But that sliver was still <a href="http://finance.yahoo.com/news/why-better-sell-startup-20-175303675.html">worth more</a> than most people make in a lifetime. 
What's that life-changing moment like for a founder?
It's a multi-phase, emotional roller coaster.
<h2>Phase 1: Relief and Disbelief</h2>
Most founders, like Goldberg, feel relieved then euphoric when their companies sell. It takes a while for reality to set in, even after the money hits their bank accounts.
Charles Forman, the founder of gaming company OMGPOP, experienced disbelief. His acquisition came more suddenly than Bleacher Report's. 
Forman left OMGPOP in the hands of his colleague, Dan Porter, to start a new venture. When Porter told Forman about a ~$200 million acquisition offer from Zynga, it was unexpected. The offer stemmed from the abrupt success of an OMGPOP mobile game, Draw Something, and Forman only had <a href="http://www.businessinsider.com/charles-forman-founder-omgpop-2012-3">$1,700 to his name at the time.</a> 
The acquisition news came as such a surprise, it put Forman in a daze. He <a href="http://www.businessinsider.com/omgpops-founder-was-so-excited-about-his-companys-200-million-sale-to-zynga-he-almost-got-himself-killed-2012-3">wandered aimlessly into the road</a> and almost got hit by a car. 
"I walked across the street, and all I heard was 'honk,'" <a href="http://www.businessinsider.com/blackboard/the-new-york-times">Forman told the New York Times</a> then. "It was surreal."
While a thicker wallet is nice for startup founders, telling employees about an acquisition can be even more rewarding. 
<h2>Phase 2: Tears, Vegas and "That's It!?"</h2>
Wiley Cerilli, the founder of a business management tool Single Platform, remembers calling one of his executives, Kenny Herman, with good news. <a href="http://www.businessinsider.com/wiley-cerilli-2012-6">Constant Contact had acquired SinglePlatform for $100 million</a> in cash, stock, and employee incentives while Herman and his wife were away on their honeymoon. While the couple was still in the airport, Cerilli told them they were millionaires. The couple spent the next few minutes embracing.
Dan Porter also remembers <a href="http://www.businessinsider.com/startups-that-rejected-100-million-offers-2013-5">delivering acquisition news to OMGPOP employees</a>. There was a <a href="http://www.businessinsider.com/draw-something-creator-omgpop-office-tour-photos-2012-3">celebration at the New York City headquarters</a> which involved popping open a bottle of champagne. Porter then sat down with each employee and told them how much money they had made. An entire day of work was then dedicated to paying off debts, like student loans and mortgages. 
Goldberg recalls mixed reactions from Bleacher Report employees. Bleacher Report's executives distributed paperwork to them that stated the number of shares each owned and the share prices. Two calculators were made available so employees could punch in numbers and determine their new net-worths. Some were ecstatic and wrote the founders thank-you notes; others expressed disappointment.
"People were texting their boyfriends and girlfriends," Goldberg says. "Some people's reactions were like, 'Oh my God, this is more than I ever could have imagined.' Some people were like, 'That's it?!' You never knew what it was going to be."
Later, Bleacher Report employees took an unofficial, un-sponsored company trip to Las Vegas. Cerilli and the SinglePlatform team took one, too.
<h2>Phase 3: Remorse and Nostalgia</h2>
No matter how rich a founder becomes, the acquisition high doesn't last forever. Once it's over, some founders feel remorse.
"When the money hit the bank account, I was just relieved that this grueling eight-month process was over," Goldberg recalls. "Then you realize, I don't own this [startup] anymore, which is a very powerful feeling.

 You go on the website and it just occurs to you, 'This isn't mine and it doesn't belong to me in any way other than from a sentimental standpoint.'"
One founder who was left bitter likened his acquisition to getting hit by a car, then getting disability money for a hurt leg. While he admits the money is nice, all he wants is his healthy leg back.
Another founder, Josh Abramson, has had years to reflect on his acquisition. Now he just feels numb.
"The moment we sold felt great," Abramson recalls. "It was something I'd been working so hard to accomplish for years. I was basically jumping up and down for weeks. The excitement of having the liquidity lasted about 6 months, then it just felt normal. My life didn't really change at all."
Abramson co-founded College Humor in his University of Richmond dorm room. College Humor sold a 51% stake to IAC for $20 million in 2006. IAC also got two of College Humor's other brands, Vimeo and Busted Tees, in the sale.
Abramson says he has no regrets about selling his company, although it's sometimes tough to hear Vimeo's current valuation. 
"I feel sort of numb about it at this point," he says. "[Selling the majority stake in College Humor] is the single most important financial decision I've made in my life so far and I made it as a 24-year-old. I don't regret the decision - I still think it was a smart thing to do at that time ... As you can probably imagine, it's the kind of decision that gets replayed in your head every now and again."
<h2>Phase 4: Back to Work, with Different Priorities</h2>
Once you've tasted your first startup win, most founders don't crave retirement or a beach. Instead, founders long for the madness of a startup all over again.
"I think with most founders, you want to work the rest of your life," says Goldberg. "I want to be working hard when I'm 80 and having money doesn't really change that." 
Goldberg has already started a new media company, <a href="http://www.bustle.com">Bustle</a>. "I just knew that I had to find another endeavor because every time I go on Bleacher Report, all I can feel is, this isn't my baby anymore," he says.
Abramson agrees. He recently purchased Busted Tees back from IAC so he could run a smaller company again. This time, his priorities are different. 
"It's literally the biggest cliche that exists - but people still forget sometimes that money doesn't buy happiness," Abramson says. "I expected that selling my company would make me feel a certain way and it didn't. Obviously having financial security is awesome to a certain point, but I realize now that having a fun company with awesome people I enjoy spending time with does so much more for my day-to-day happiness than more money in the bank ever would."

What It's Like The Moment You Sell Your Startup For Tons Of Money

<div style="padding: 15px; border: 1px solid #999999; margin-bottom: 10px; font-size: 15px!important; line-height: 25px; overflow: auto; vertical-align: middle;">This is the first of the six-part <a href="http://www.businessinsider.com/category/sa-100-insider">"SA 100 Insider"</a> series, looking at the passions, hobbies, and pursuits of Silicon Alley's tech elite. "<keyword id="1880892" type="UNKNOWN" weightage="60" keywordseo="SA-100-Insider">SA 100 Insider</keyword>" is sponsored by Mercedes. <a href="http://www.businessinsider.com/category/sa-100-insider">Read more posts in the series »</a></div><div class="image-container display-table float_right"><div><div class="image">Daniel Goodman via Business InsiderThumbs up all around after Yext told employees it raised $27 million. Imagine what they'd be doing after an acquisition?</div></div></div>Bryan Goldberg and his three co-founders had to wait eight torturous months to learn the fate of their startup.
Technology sites were <a href="http://www.businessinsider.com/turner-is-close-to-buying-bleacher-report-for-200-million-2012-6">reporting acquisition rumors</a> about their company, Bleacher Report, and each story made the founders cringe. 
The rumors were true: Bleacher Report was on the block. Turner Media, owner of CNN, was interested in buying the sports media site. 
But no paperwork had been signed and Bleacher Report didn't want to spook the potential buyer.
"It went from something that seemed out of reach, to something that was remotely possible, to something we thought might happen, to something we thought would probably happen, to something that seemed almost certain," Goldberg says. "You go to bed every night thinking there's a really good chance this deal is going to go through, and knowing at any minute it could come apart for the smallest, most abrupt of reasons."
Ultimately, Turner purchased Bleacher Report for $213 million. After raising $40.5 million, each founder only owned a sliver of the company. But that sliver was still <a href="http://finance.yahoo.com/news/why-better-sell-startup-20-175303675.html">worth more</a> than most people make in a lifetime. 
What's that life-changing moment like for a founder?
It's a multi-phase, emotional roller coaster.
<h2>Phase 1: Relief and Disbelief</h2>
Most founders, like Goldberg, feel relieved then euphoric when their companies sell. It takes a while for reality to set in, even after the money hits their bank accounts.
Charles Forman, the founder of gaming company OMGPOP, experienced disbelief. His acquisition came more suddenly than Bleacher Report's. 
Forman left OMGPOP in the hands of his colleague, Dan Porter, to start a new venture. When Porter told Forman about a ~$200 million acquisition offer from Zynga, it was unexpected. The offer stemmed from the abrupt success of an OMGPOP mobile game, Draw Something, and Forman only had <a href="http://www.businessinsider.com/charles-forman-founder-omgpop-2012-3">$1,700 to his name at the time.</a> 
The acquisition news came as such a surprise, it put Forman in a daze. He <a href="http://www.businessinsider.com/omgpops-founder-was-so-excited-about-his-companys-200-million-sale-to-zynga-he-almost-got-himself-killed-2012-3">wandered aimlessly into the road</a> and almost got hit by a car. 
"I walked across the street, and all I heard was 'honk,'" <a href="http://www.businessinsider.com/blackboard/the-new-york-times">Forman told the New York Times</a> then. "It was surreal."
While a thicker wallet is nice for startup founders, telling employees about an acquisition can be even more rewarding. 
<h2>Phase 2: Tears, Vegas and "That's It!?"</h2>
Wiley Cerilli, the founder of a business management tool Single Platform, remembers calling one of his executives, Kenny Herman, with good news. <a href="http://www.businessinsider.com/wiley-cerilli-2012-6">Constant Contact had acquired SinglePlatform for $100 million</a> in cash, stock, and employee incentives while Herman and his wife were away on their honeymoon. While the couple was still in the airport, Cerilli told them they were millionaires. The couple spent the next few minutes embracing.
Dan Porter also remembers <a href="http://www.businessinsider.com/startups-that-rejected-100-million-offers-2013-5">delivering acquisition news to OMGPOP employees</a>. There was a <a href="http://www.businessinsider.com/draw-something-creator-omgpop-office-tour-photos-2012-3">celebration at the New York City headquarters</a> which involved popping open a bottle of champagne. Porter then sat down with each employee and told them how much money they had made. An entire day of work was then dedicated to paying off debts, like student loans and mortgages. 
Goldberg recalls mixed reactions from Bleacher Report employees. Bleacher Report's executives distributed paperwork to them that stated the number of shares each owned and the share prices. Two calculators were made available so employees could punch in numbers and determine their new net-worths. Some were ecstatic and wrote the founders thank-you notes; others expressed disappointment.
"People were texting their boyfriends and girlfriends," Goldberg says. "Some people's reactions were like, 'Oh my God, this is more than I ever could have imagined.' Some people were like, 'That's it?!' You never knew what it was going to be."
Later, Bleacher Report employees took an unofficial, un-sponsored company trip to Las Vegas. Cerilli and the SinglePlatform team took one, too.
<h2>Phase 3: Remorse and Nostalgia</h2>
No matter how rich a founder becomes, the acquisition high doesn't last forever. Once it's over, some founders feel remorse.
"When the money hit the bank account, I was just relieved that this grueling eight-month process was over," Goldberg recalls. "Then you realize, I don't own this [startup] anymore, which is a very powerful feeling.

 You go on the website and it just occurs to you, 'This isn't mine and it doesn't belong to me in any way other than from a sentimental standpoint.'"
One founder who was left bitter likened his acquisition to getting hit by a car, then getting disability money for a hurt leg. While he admits the money is nice, all he wants is his healthy leg back.
Another founder, Josh Abramson, has had years to reflect on his acquisition. Now he just feels numb.
"The moment we sold felt great," Abramson recalls. "It was something I'd been working so hard to accomplish for years. I was basically jumping up and down for weeks. The excitement of having the liquidity lasted about 6 months, then it just felt normal. My life didn't really change at all."
Abramson co-founded College Humor in his University of Richmond dorm room. College Humor sold a 51% stake to IAC for $20 million in 2006. IAC also got two of College Humor's other brands, Vimeo and Busted Tees, in the sale.
Abramson says he has no regrets about selling his company, although it's sometimes tough to hear Vimeo's current valuation. 
"I feel sort of numb about it at this point," he says. "[Selling the majority stake in College Humor] is the single most important financial decision I've made in my life so far and I made it as a 24-year-old. I don't regret the decision - I still think it was a smart thing to do at that time ... As you can probably imagine, it's the kind of decision that gets replayed in your head every now and again."
<h2>Phase 4: Back to Work, with Different Priorities</h2>
Once you've tasted your first startup win, most founders don't crave retirement or a beach. Instead, founders long for the madness of a startup all over again.
"I think with most founders, you want to work the rest of your life," says Goldberg. "I want to be working hard when I'm 80 and having money doesn't really change that." 
Goldberg has already started a new media company, <a href="http://www.bustle.com">Bustle</a>. "I just knew that I had to find another endeavor because every time I go on Bleacher Report, all I can feel is, this isn't my baby anymore," he says.
Abramson agrees. He recently purchased Busted Tees back from IAC so he could run a smaller company again. This time, his priorities are different. 
"It's literally the biggest cliche that exists - but people still forget sometimes that money doesn't buy happiness," Abramson says. "I expected that selling my company would make me feel a certain way and it didn't. Obviously having financial security is awesome to a certain point, but I realize now that having a fun company with awesome people I enjoy spending time with does so much more for my day-to-day happiness than more money in the bank ever would."

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Bryan Bedder/Getty Images for The New York TimesGoldman Sachs Group chairman and CEO Lloyd Blankfein.</div></div></div><section><article><div><div><section data-share-hash=""><div>Goldman Sachs just announed a new class of managing directors.</div><div></div><div>Here's the statement:</div></section></div>NEW YORK, November 8, 2017 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has selected a new class of Managing Directors, effective from January 1, 2018, the start of the firm's next fiscal year."Our new Managing Directors have demonstrated an outstanding commitment to our people, clients and culture during their tenures at the firm, and we wish them continued success as they take this important next step in their careers," said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs.The following individuals have been promoted to Managing Director: Gregg Abramson Sanjay Acharya Khalid Albdah Amal Alibair Karthikeyan Anbalagan Rolf Andersson Volker Anger Jonathan Armstrong Ken Ashley Lavanya Ashok Sebastian Ayton Jonathan Babkow Julio Badi Amitayush Bahri Soren Balzer Robert Barlick Jr. Philip Barreca Santiago Bau David Bauer Oksana Beard Lee Becker Virender Bedi Stuart Beer Christian Beerli Amanda Beisel Yumiko Bekku David Bell Pierre Benichou Andrew Benito Marco Bensi Laura Benson Stephen Bergin Daniel Berglund Greg Berry Shital Bhatt Dipanjan Bhattacharjee Anu Bhavnani Carissa Biggie Vineet Birman Daniel Bitel Anne Black Richard Blore Emmanuel Bodenstein Timothy Braude Sean Brenan Hugh Briscoe Nathaniel Bristol Leo Brito Troy Broderick Levee Brooks Eric Brothers Robert Bruns III Anthony Bunnell Meg Burke Susan Burt Sean Butkus Russell Byrne Edward Byun Adam Cahill Alessandro Calace Cristiano 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(Internal Audit) Kate Wood Amanda Wu Douglas Wu Joanne Xu Liang Xu** Rupam Yadav Kazushi Yamaguchi Hubert Yang Lisa Yang Basak Yavuz Zeynep Yenel David Yu Brian Zakrocki Thomas Zeppetella Yi Zhang* Adib Zouein Patrik Zumstein Piotr Zurawski Jonathan Zwart*Employee of Goldman Sachs Gao Hua Securities Company Limited **Employee of Beijing Gao Hua Securities Company Limited</div></article></section>Get the latest Goldman Sachs stock price<a href="http://markets.businessinsider.com/stock/GS-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/interview-with-kristina-hooper-chief-investment-strategist-at-invesco-2017-11">We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now</a></h3> <div> </div> </div>

You Searched For "Charles Forman" and got 5 results

After 2 Years In Stealth Mode And A $180 Million Acquisition, OMGPOP Founder Debuts New Startup, Picturelife

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Jack Daniel's Has Weighed In On The Raging Flavored Liquor Debate

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What It's Like The Moment You Sell Your Startup For Tons Of Money

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What It's Like The Moment You Sell Your Startup For Tons Of Money

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Goldman Sachs' new managing director list is out

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