 | This article may contain wording that promotes the subject through exaggeration of unnoteworthy facts .(September 2021) |
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| Industry | Venture capital |
|---|---|
| Founded | 2004 |
| Founder | Rob Coneybeer, Ravi Mohan |
| Headquarters | Menlo Park, California |
| Website | shastaventures |
Shasta Ventures is an early-stage venture capital investment firm located in Silicon Valley that invests in enterprise and technology consumer startups. [1] It is located on Sand Hill Road in Menlo Park. [2]
Shasta's second fund of US$250 million included Nest Labs, which almost all by itself repaid the entire fund when it was sold to Google for $3.2 billion. [3] Shasta's third fund of $265 million was announced in September 2011. [4] The fourth fund, of $300 million, was announced in June 2014. [5]
Shasta was originally focused on companies in the consumer technology space, with then managing director Tod Francis calling Mint.com a "classic Shasta" investment in September 2011. [4]
In September 2013, Rob Coneybeer of Shasta, the new managing director, said that he was betting big on hardware startups, citing Moore's Law-style continued performance improvements making opportunities for new hardware possible. [6]
Shasta Ventures was an early investor in Mint.com, an online personal finance management service that was bought in September 2009 by financial software company Intuit for US$170 million in cash. [7] An article by Alexia Tsotsis for TechCrunch quoted Shasta's managing director Tod Francis as using the phrase "Classic Shasta" to describe Shasta's investment in Mint.com. [4]
Shasta Ventures and Kleiner Perkins Caufield & Byers were the only investors in the Series A round for Nest Labs (the home automation company) in September 2010. When Google later bought Nest Labs for US$3.2 billion in January 2014, Shasta had a net gain of about $200 million, enough to pay out "almost all" of the $250 million Shasta II fund. [3] [8] [9] [10]
Shasta has invested in a number of other companies [11] such as Anaplan, Brandcast, [12] Entelo,[ citation needed ] Leanplum, Nextdoor, [13] Lithium Technologies, [14] Logoworks,[ citation needed ] Zuora, [15] Tally Technologies, [16] [17] [18] Spiceworks, [19] Stealth Security, and VoloMetrix.[ citation needed ]
In August 2019 partner Doug Pepper left the firm, potentially triggering a "key-man" event [20]
Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs in over 900 ventures, including America Online, Amazon.com, Tandem Computers, Compaq, Electronic Arts, JD.com, Square, Genentech, Google, Netscape, Sun Microsystems, Nest, Palo Alto Networks, Synack, Snap, AppDynamics, and Twitter. By 2019 it had raised around $9 billion in 19 venture capital funds and four growth funds.
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Mint, also known as Intuit Mint and formerly known as Mint.com, is a personal financial management website and mobile app for the US and Canada produced by Intuit, Inc..
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Alexia Bonatsos, née Tsotsis, is a venture capitalist and former co-editor of TechCrunch, a technology news website. In 2011, she was listed by Forbes magazine as among the top 30 under 30 in the Media category.
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Dropcam, Inc. was an American technology company headquartered in San Francisco, California. The company is known for its Wi-Fi video streaming cameras, Dropcam and Dropcam Pro, that allow people to view live feeds through Dropcam's cloud-based service. On June 20, 2014, it was announced that Google's Nest Labs bought Dropcam for $555 million, a decision Dropcam co-founder Greg Duffy later described as a "mistake". In June 2015, Nest introduced the Nest Cam, a successor to the Dropcam Pro. Support for Dropcam services is planned to end on April 8, 2024.
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For the sociological term, see Social capital.
Tiger Global Management, LLC is an American investment firm founded by Chase Coleman III, a former Tiger Management employee under Julian Robertson, in March 2001. It mainly focuses on internet, software, consumer, and financial technology companies.
