SAN FRANCISCO (Reuters) – Venture-capital firm Kleiner Perkins Caufield & Byers asked a California state court on Wednesday to dismiss a discrimination lawsuit by partner Ellen Pao, saying it denied “each and every material allegation” made by her.
The suit has become the talk of Silicon Valley, where the digerati are avidly debating its merits — along with broader questions about sexism in the technology industry.
SAN FRANCISCO, June 11 (Reuters) – Marketing on Facebook
influences consumer behavior and leads to increased
purchases for the brands that leverage the social-networking
site, consulting company comScore said in a report released
“The Power of Like 2: How Social Media Works,” looks at
paid advertising on Facebook as well as earned media exposure–
meaning mentions of the brand made by Facebook users in status
updates and the like. It is based on the experiences of large
brands such as Best Buy, Starbucks and Target
SAN FRANCISCO/ SAO PAULO, June 7 (Reuters) – One of
Facebook’s earliest investors has turned his attention to
a distant market with a small but lively start-up scene: Brazil.
Kevin Efrusy, the partner at Accel who spearheaded the
firm’s initial $12.7 million investment in Facebook back in
2005, has made several new investments in Brazil over the last
year or so.
Kleiner Perkins partner Mary Meeker has finally found a company that meets her standards. Just days after saying she spent the first quarter turning down overpriced investments, her fund is investing $15 million in Lending Club.
Meeker, who leads Kleiner’s $1 billion Digital Growth Fund, told the All Things D conference last week that private-market valuations were high and she and her colleagues “just were having trouble getting comfortable.”
SAN FRANCISCO, May 29 (Reuters) – As Silicon Valley
scrambles to assess the impact of the Facebook IPO
mess, all eyes are on Square.
The much-heralded, next-generation payments company had been
aiming to raise its next round of venture capital funds at a
valuation of as much as $4 billion – up from $1 billion just a
year ago. That is the sort of acceleration in valuation that
happened with Facebook prior to its public market debut.
Kleiner Perkins partner Ellen Pao has unleashed one of Silicon Valley’s juiciest lawsuits in recent memory, alleging discrimination, harassment, and even an out-of-the-box solution to her woes proposed by a colleague: marriage to her harasser.
But Pao didn’t let this awkward legal situation stop her from stepping out to a couple of parties in Palo Alto Thursday night, just days after news of her lawsuit leaked out. That included one held by her employers at Palo Alto’s Reposado, a busy Mexican restaurant, for some of Kleiner’s start-up companies.
SAN FRANCISCO/NEW YORK (Reuters) – Silicon Valley isn’t quite ready to dump Morgan Stanley over the Facebook IPO fiasco.
It could be said that playing a role in botching the world’s biggest tech initial public offering would be enough to kick its lead banker out of the club, or at least to the curb, but a tarnished image hasn’t necessarily dented Morgan Stanley’s position as a go-to underwriter for Silicon Valley, according to bankers, venture capitalists and start-ups.
May 22 (Reuters) – Kleiner Perkins Caufield & Byers partner
Ellen Pao is suing the venture capital firm for sexual
harassment and discrimination, according to a lawsuit filed
earlier this month in California Superior Court.
Pao, who joined the firm in 2005, alleges that former
Kleiner partner Ajit Nazre made sexual advances to her and
worked to harm her career once she rebuffed him. Nazre didn’t
return a call requesting comment.
SAN FRANCISCO, May 21 (Reuters) – Facebook’s lackluster
initial public offering performance is a black eye for many on
Wall Street and could have ramifications for similar upcoming
deals such as an offering by Twitter, but venture capitalists in
Silicon Valley are keen to shrug off Facebook’s stumble – at
least for now.
Any social networking companies planning IPOs might now be
thinking twice, although the biggest companies currently aiming
to tap public markets are enterprise-focused rather than
consumer-focused, such as online-security company Palo Alto
Networks, which has had IPO documents on file with the
Securities and Exchange Commission since April.
SAN FRANCISCO, May 17 (Reuters) – Kleiner Perkins Caufield &
Byers said it had raised a $525 million fund, less than its
previous comparable fund of $650 million, reflecting a school of
thought in Silicon Valley that smaller venture-capital funds
often outperform large ones.
The fund also has a majority of partners, known as managing
members, who focus on technology rather than green investments
and the environment, marking a shift away from an investment
area that Kleiner had tried to carve out as its own.