Nicely written article on the “bro” culture in Silicon Valley from the NYTimes. While most of the article focuses (of course!) on Uber, it has examples from others including Zenefits and Quirky. A couple of points that caught my eye:
- In 1999, 10 percent of investing partners at venture capital companies were women. By 2014 the number had declined to 6 percent. Bros in VC support Bros in tech companies.
- None of the 15 biggest tech “unicorns” — start-ups worth more than $1 billion — has a female chief executive
Worth a a quick scan.
Nice little article in MIT tech review on how Dropbox has expanded its focus on the broader (enterprise) collaboration market. Some tidbits that caught my eye:
- Dropbox has a ~$10B valuation; sales are running at ~$1B a year up from ~$400M in 2014
- Cash flow positive since 2016
- About 10M new people start using the free version every month. Wow
- More than 200k companies have signed up for Dropbox business (up from 50k in 2014). Most are small companies
But not all is rosy. It’s still a very competitive market – e.g. Gartner counted ~130 companies in the file storage/sync market. Plus companies like Google are bolstering their collaboration offerings (e.g. they released a bunch of new features at Google Next this week).
Worth a read (but you will need a subscription).
Interesting article in the NYC on tech acquisitions this past year. The one statistic that caught my eye:
Last year, the number of technology companies sold to non-tech companies surpassed those acquired by tech companies for the first time since the internet era began
Specifically, ~51% (out of a total of 1337) were bought by non-tech companies. Tech acquisitions also made up the largest proportion of the deals at ~15%. Software is indeed eating the world.
Distribution of unicorn valuations. Not uniform at all.
(From NY Times)
Nice little profile of Marc Andreessen (and the VC industry at large) in the New Yorker this week. Some interesting titbits:
- Andreessen Horowitz’s code name is a16z. Funny.
- Each year ~3000 startups approach a16z. Wow. That’s ~11 approaches a day. They fund ~15 a year.
- There are ~800 VC firms in the US. (Compare this to the ~300k “angels” that the Economist reports.)