Meeker Jumps Ship to Kleiner Perkins

This morning’s big news is a departure. Mary Meeker, the so-called “Queen of the Net,” is leaving Morgan Stanley to join Kleiner Perkins Caufield & Byers.

Meeker will join Kleiner Perkins’ digital practice, where she will be a partner. She will invest in start-up technology companies and help current KPCB-backed companies grow, according to the Wall Street Journal.

“Mary was an early supporter of some of the biggest technology investment winners of the past 20 years,” said John Doerr, a Kleiner Perkins partner, in a statement. “Her advice and support are already highly sought after by entrepreneurs and in this new role, she will be able to spend even more time providing more direct assistance.”

Meeker is currently head of global technology at Morgan Stanley. In the 1990s, Meeker was an early champion of companies such as, Yahoo!, Netscape, Microsoft and Google (Morgan Stanley served as lead underwriter for the Google IPO in 2004) and is credited for helping fuel the dot-com bubble.

When the bubble burst in 2000 and 2001, Meeker was one of the analysts vilified during a Wall Street  research scandal. However, Meeker was never charged with securities violations and rebounded (two other analysts—Smith Barney’s Jack Grubman and Merrill Lynch’s Henry Blodget—were named in the scandal and banned from the securities industry for life. Blodget is experiencing a second act as CEO of the Business Insider).

Kleiner Perkins was one the prime backers of Netscape, and Google, the WSJ says.