Yep, the Paypal mafia posed like they were Goodfellas.

We have all heard the tales of the “Paypal Mafia” out west which churned out a number of successful entrepreneurs from its ranks that produced a wave of companies including Slide, Linkedin, Yammer, Yelp, Geni, YouTube and numerous investments in other successful startups.  Often times here in Boston, we have the tendency to keep completely awesome stories locked away rather than sharing them with the rest of the World.  Maybe it’s our Northeastern, blue-collar approach to doing things – but here in Boston back in the mid 90’s we had our own leading internet commerce company, Open Market, whose IPO gave the company a market cap of $1.2 billion when its revenues the previous year were only $1.8 million, that subsequently churned out a wide network of successful entrepreneurs, companies and investors here in Boston.

If you do two simple Google searches – one for Paypal mafia, and one for Open Market [enter mafia, network, etc.] you will see my point about lack of coverage.  So without further ado, meet some of the crew in our community that was a part of the Open Market (OMKT) gang:

Shikhar Ghosh – Founder & CEO OMKT

Now: HBS Faculty, Angel investor (Skyhook wireless)

Andy Payne – OMKT Founder

Now:  Angel investor (, Digium) Startup advisor (Kayak, SmartFlix) Board Member (FanSnap, Hubspot)

Gail Goodman – Open Market VP Marketing

Now: Constant Contact CEO

Ted Morgan – Group Product Manager at OMKT

Now: Co-Founder, CEO Skyhook Wireless

Jeff Bussgang – OMKT VP Marketing

Now: GP Flybridge Capital Partners

Jon Guerster – OMKT Director of Business Development

Now: CEO Groom Energy

Daniel Ross – OMKT VP of Sales

Now: CEO Illume Software

Paul Schaut – OMKT VP

Now: CEO Modiv Media

Eswar Priyadarshan – OMKT Architect

Now: CTO Quattro Wireless, recently CTO m-Qube

Keith Lietzke – OMKT Director of Marketing

Now: Co-founder, Unbound Commerce

Whitney Bower – OMKT Director of Marketing

Now: Senior Advisor at 3i Group

Gerald Hewes: OMKT Director of Engineering

Now:  Co-founder Unbound Commerce, recently with m-Qube & Quattro Wireless

Not a bad set of companies turned out from OMKT if I do say so myself – and word on the street is they are all still pretty tight.  My guess is there are now probably a number of successful networks being grown out of their subsequent and current ventures – if you are familiar with anyone I may be missing let me know in the comments below!  We will be looking to tackle more stories like this one as there are a number of dense networks in the hub that have gone relatively under the radar, ahem, Lycos you’re next.