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Eric Schmidt is on Insight Venture Partners Executive advisory board:
From Insight Ventures TEAM page:
Google founders Larry Page and Sergey Brin recruited Eric Schmidt from Novell, where he led that company's strategic planning, management and technology development as chairman and CEO. Since coming to Google, Schmidt has focused on building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while product development cycle times are kept to a minimum. Along with Page and Brin, Schmidt shares responsibility for Google's day-to-day operations.
I did talk to one of the guys to find out what they were up to. The analyst was somewhat junior and probably ballbed more than he should. In addition to Kanoodle the were also looking to pump some money into Tribal Fusion. He also mentioned that they were working with someone high up in Google on some potential deals.
As we all know the whole internet space is pretty much incestuous so anybody getting into bed with anybody shoudn't be a suprise.
I think he was cruising every booth there @ SES and talking about their major investment...he mentioned it was PPC, I guess I should have figured it was Kanoodle. Didn't see him in a tag team, but there were a few VC firms there, so it was difficult to keep them all straight after a while.
Sounds odd to me. Why would he build a target up and make it more expensive to buy? Unless of course he has an official/unofficial interest in it too!
He's got a bit of a conflict of interest on his hands and he should resign from one of his jobs.