Former AdMob Team Omar Hamoui and Mike Rowehl Partners With Sequoia To Launch Churn Labs

Posted Mar 14, 2011

AdMob founder Omar Hamoui and the company’s first engineer Mike Rowehl has partnered with venture capital firm Sequoia Capital to launch Churn Labs. Churn Labs will be a startup incubator similar to Idealab. Churn Labs currently has 5 employees across 2 offices (San Mateo and Irvine). They hope to average 12 employees and will be spending about $2 million per year on operations. The target is to give startup employees around 60% equity in spun off companies while Churn will maintain 40% ownership. Sequoia will also get a part of equity in each startup, but won’t have any other rights. [TechCrunch]