venture capital

Andreessen explains how Steve Jobs, Tim Cook are different

Famed Silicon Valley venture capitalist Marc Andreessen believes there is one major difference between Tim Cook and Steve Jobs: a desire for market share.

Speaking last night at an event in New York City, Andreessen said that Jobs' "single playbook" was to "invent a new product category, start with 100 percent market share, and then every day that goes by, lose market share until some terminal outcome."

Andreessen pointed to the Macintosh computer, the iPod, the iPhone, and the iPad as examples of that strategy. He noted -- correctly so -- that while Apple might own … Read more

Condoleezza Rice, Robert Gates sign deal with Khosla Ventures

A consulting firm owned by former Secretary of State Condoleezza Rice and former Secretary of Defense Robert Gates has inked a deal with venture capital firm Khosla Ventures.

RiceHadleyGates announced today that it will provide "strategic insight" to Khosla Ventures in an effort to help the venture-capital firm's portfolio companies "make critical business decisions around expanding to markets like China, India, and Brazil."

"We look forward to putting our network and experience to good use by helping the Khosla companies navigate the tricky waters of political, policy, and regulatory issues around the world," … Read more

Quantum computing goes mainstream? New VC fund debuts

Quantum computing tends to sounds like something out of a science fiction novel or at least The Big Bang Theory. But a new venture capital fund, launching today, is trying to take it mainstream.

The Quantum Wave Fund, which will set up shop in Boston, plans to invest solely in early stage, private companies working on breakthroughs in quantum technology. It won't be providing funding for early research but instead will seek out companies who already have viable and promising products related to quantum computing.

"Too many people take quantum computing as hypothetical," Serguei Kouzmine, managing partner … Read more

Ron Conway steps back as Y Combinator cuts team funding

Superstar angel investor Ron Conway will no longer be part of the team of investors giving money to the dozens of startups taking part each year in Y Combinator, one of the world's most prestigious incubators.

Y Combinator said today that it is sharply reducing the amount of venture funding each startup coming through the program is given. For the last two years, each team was seeded with $150,000 in funding from Conway, of SV Angel, Yuri Milner, and Andreessen Horowitz. Starting today, that amount has been slashed to $80,000 per team, the incubator said, as it … Read more

Winklevoss twins lead $750K investment in shopping startup

The Winklevoss twins, known for their long legal battle with Facebook CEO Mark Zuckerberg, have made another investment as venture capitalists in their post-Facebook lives.

Cameron and Tyler Winklevoss, also known as the "Winklevii," led a $750,000 investment round for Hukkster, an online shopping startup that lets shoppers track online merchandise and receive notifications when prices drop, The New York Times reported today.

New York-based Hukkster was founded by two former retail consultants, Katie Finnegan and Erica Bell, and has more than 10,000 users. Retailers such as J. Crew, Bloomingdale's, and ShopBop pay a referral … Read more

Google Ventures reportedly gets $100 million funding boost

Google Ventures, the search giant's venture-capital arm, is getting more cash to play with.

Google Ventures will now be allowed to invest up to $300 million a year into startups, up from the previous limit of $200 million per year. The boost was reported to Reuters by Google Ventures managing partner Bill Maris, who told the news outlet that the increased cash "puts a lot more wood behind the arrow if we need it."

Google Ventures kicked off in 2009 as a way for the search giant to identify early-stage companies and give them cash to help … Read more

Andreessen Horowitz drops $15M on Web-annotation startup

Looking to help jump-start a new era in annotating Web text, leading venture capital firm Andreessen Horowitz today said that it's investing $15 million in RapGenius, a startup that enables such annotations.

RapGenius was founded on the idea that rap lyrics needed explanation. And given that Andreessen Horowitz partner Ben Horowitz is a well-known rap devotee, there's an obvious hook that would attract the VC firm to help fund the startup.

"Given that RapGenius is a Web site where people explain rap lyrics, and given that my partner Ben is a noted rap fanatic, your first reaction … Read more

Ellen Pao says she has been fired by Kleiner Perkins

Last updated: 11:25 a.m. PT

Ellen Pao, the junior partner at Kleiner Perkins Caufield & Byers who filed a lawsuit earlier this year against her employer alleging gender discrimination and retaliation, has been fired from the Silicon Valley VC, she announced late Tuesday.

"I have been terminated from my job at KPCB," she said in a statement on Q&A site Quora. "On Monday afternoon, senior management told me to clean out my office, leave, and not come back."

Pao's allegation was included in an updated response to a Quora user's … Read more

Venture capitalists offer up $2.1 billion in funding in Q2

Corporate venture-capital funding was on the rise during the second quarter of 2012.

Research firm CB Insights, which provides quarterly data on VC investments, revealed today that a total of $2.1 billion was offered up to startups during the second quarter in just 118 deals. The total invested capital nearly doubled the first quarter's $1.09 billion in investments. During the second quarter of 2011, funding hit $1.81 billion.

So, where is that cash going? According to CB Insights, Facebook's $1 billion acquisition of Instagram prompted corporate venture capitalists to flock to the mobile arena, where … Read more