SAN FRANCISCO (Reuters) – When asked to name the most notable rags-to-riches entrepreneur that his firm has funded, venture capitalist Ben Horowitz doesn’t hesitate: Christian Gheorghe, a Romanian immigrant who came to the United States without speaking English, and rose from limo driver to founder of a business-analytics company, Tidemark.
It’s an impressive tale that encapsulates the way Silicon Valley likes to think of itself: a pure meritocracy; a place where talent rises to the top regardless of social class, educational pedigree, race, nationality or anything else.
SAN FRANCISCO, Sept 12 (Reuters) – When asked to name the
most notable rags-to-riches entrepreneur that his firm has
funded, venture capitalist Ben Horowitz doesn’t hesitate:
Christian Gheorghe, a Romanian immigrant who came to the United
States without speaking English, and rose from limo driver to
founder of a business-analytics company, Tidemark.
It’s an impressive tale that encapsulates the way Silicon
Valley likes to think of itself: a pure meritocracy; a place
where talent rises to the top regardless of social class,
educational pedigree, race, nationality or anything else.
SAN FRANCISCO (Reuters) – Greylock Partners, the venture-capital firm behind companies like LinkedIn, (LNKD.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it raised a $1 billion fund, its 14th.
The fund will focus on early-stage companies, Greylock partner David Sze said in a blog post, particularly in the areas of seamless technology and the increasing ease of using technology in the workplace.
SAN FRANCISCO, Sept 5 (Reuters) – Technology hedge fund
Coatue Management has led a $45 million funding round into
accommodation service HotelTonight, the latest example of the
burgeoning interest among hedge funds in Silicon Valley
HotelTonight, which allows travelers using smartphones to
book rooms at the last minute, plans to use the cash to further
expand around the world, including Asia. It announced the news
in a press release.
SAN FRANCISCO (Reuters) – In a big bet on marketplaces, venture capital firm Greylock Partners is promoting former eBay Motors founder Simon Rothman to partner, and dedicating $100 million to the sector.
Marketplaces – companies like auction service eBay, accommodation service Airbnb, and personal-loan service LendingClub – have the potential to create more billion-dollar businesses in the next five years than in the last 20, Rothman said in an interview with Reuters.
SAN FRANCISCO, Aug 16 (Reuters) – When Bill Aulet tries to
hire faculty to bolster entrepreneurship courses at MIT, where
he is a senior lecturer at the Sloan School of Management, he
often runs up against a familiar challenge.
“We bring in people and interview them all the time,” he
said at a breakfast in San Francisco last week to mark the
publication of his new book, “Disciplined Entrepreneurship.”
“They’re not MIT rigor. And we get to see the best of the best.”
SAN FRANCISCO, Aug 15 (Reuters) – Wanted: aggressive
go-getter to join high-profile foundation advocating for women’s
rights in a male-dominated corporate world. Must work for free.
LeanIn.org, the nonprofit created by wealthy Facebook
chief operating officer Sheryl Sandberg, created a stir on
Thursday with a job ad posted by one of its editors that called
for an editorial intern to work for no pay at the group, which
works primarily to empower women.
SAN FRANCISCO (Reuters) – Cash-strapped start-ups need look no further than Looker Data Sciences for evidence the investment boom is alive and well.
The two-year-old company that helps businesses analyze data announced on Tuesday it’s tapped venture investors for $16 million in early-stage funding – the type of sum no start-up could previously have managed without a slog of around four or five years.
SAN FRANCISCO, Aug 6 (Reuters) – Venture capital firm
Kleiner Perkins Caufield & Byers has appealed a California
court’s decision to allow a closely watched sex discrimination
lawsuit to proceed, trying to keep the high-profile case out of
a public courtroom.
The suit, which pits former partner Ellen Pao against one of
Silicon Valley’s most storied venture firms, alleges harassment,
discrimination and retaliation. It became the talk of the Valley
last year with its references to an affair and its allegations -
denied by the firm – of sexual advances and sexist behavior.
SAN FRANCISCO, Aug 1 (Reuters) – Social-media management
company Hootsuite said investors have put $165 million into the
company, with an undisclosed portion going to cash out existing
Hootsuite is part of a growing group of venture-backed firms
that have arranged financings known as secondary transactions,
which cash out existing investors rather than putting money
directly into the company’s coffers.