Maveron

Former Maveron Investor Jason Stoffer Says He Was Wrong to Pass on Remitly as Company Nears $6.5B IPO

Maveron investor Jason Stoffer passed on investing in Seattle remittance startup Remitly in 2012 due to regulatory and market concerns but now says the company proved him wrong as it prepares a $6.5 billion IPO. Stoffer discusses his analysis of Remitly’s S-1, investing lessons, and related topics on the GeekWire Podcast.

'They proved me wrong.' Investor who passed on Seattle startup analyzes its IPO

Jason Stoffer was still early in his career at venture capital firm Maveron in 2012 when he declined an opportunity to invest in Remitly, then a fledgling Seattle startup with ambitions to challenge Western Union by bringing a tech mindset to the business of international money transfers. He was impressed by Remitly co-founders Matt Oppenheimer and Josh Hug but knew they faced a huge challenge in getting the state-by-state regulatory approval required to make monetary remittances to what was then their initial international market, the Philippines. "It felt like the end vision was powerful — if they can get there,"…

Remitly files to raise up to $332.6M in IPO at roughly $6.5B valuation with $38–$42 price range

Remitly set IPO terms expecting to raise $284.6 million (up to $332.6 million with overallotment) at $38–$42 a share, valuing the Seattle fintech about $6.5 billion. The company reported $202M revenue and a $9.2M net loss in the first half of the year and competes with firms like Wise and Zepz.

Opendoor acquires Seattle’s Pro.com and San Francisco’s Skylight, will shut both platforms

Opendoor acquired Seattle-based Pro.com and San Francisco-based Skylight, will discontinue both companies' consumer platforms and integrate their teams and technology into Opendoor’s roadmap; deal terms were not disclosed. The moves give Opendoor a Seattle presence and add home-improvement talent as the iBuyer expands amid increased digital homebuying adoption.

Booster Fuels launches public mobile gas service at three Seattle Safeway lots, first in Washington

Booster Fuels has begun offering mobile gasoline service to the general public at three Safeway parking lots in the Seattle area, marking the first consumer-facing deployment of its trucks in Washington state. Customers pay by smartphone while a Booster employee refuels vehicles, with prices tied to nearby station averages and no immediate expansion plans announced.

Maveron, co-founded by Dan Levitan and Howard Schultz, becomes Certified B Corporation after rigorous assessment

Maveron, the venture capital firm co-founded by Dan Levitan and Howard Schultz, became a Certified B Corporation to formalize its commitment to balancing profit with social and environmental goals. The firm pursued the certification after working with B Corp portfolio companies like Allbirds and completed a rigorous assessment covering governance, demographics, and environmental impact.

Updater acquires Seattle on-demand moving startup Dolly; terms undisclosed

New York moving services company Updater has acquired Seattle on-demand moving startup Dolly; terms were not disclosed and Dolly will operate as an Updater subsidiary with its Seattle team retained.

Rec Room raises $100M, becomes $1.25B Seattle unicorn after pandemic-fueled 566% revenue surge

Seattle-based social gaming startup Rec Room raised $100 million at a $1.25 billion valuation after explosive growth during the COVID-19 pandemic, driven by 15 million lifetime users and a 566% year-over-year revenue increase. The five-year-old company offers cross-platform tools for creating virtual rooms and games, has over 2 million creators, isn’t yet profitable, and plans an Android launch later this year.

Seattle VCs Report 28% Women in Senior Roles, Nearly Double U.S. Average of 14.2%

Seattle-area venture capital firms have nearly double the national share of women in senior roles (28% vs. 14.2%), with 25 women among 88 partners across 21 Washington firms, though overall parity remains distant and 61% of U.S. VC firms still have no women in key decision-making roles.

Former Zulily Execs Jason LeeKeenan and Kevin Saliba Raise $150M to Buy and Scale E‑Commerce Brands

Two former Zulily executives, Jason LeeKeenan and Kevin Saliba, raised over $150 million to launch Cap Hill Brands, a firm that buys and operationally scales profitable e-commerce businesses and has acquired 10 companies since last summer.

University of Washington taps Justin Dunnicliff as NSIN university program director; Meredith Han named VP of Product at FlyHomes

The University of Washington partnered with the Department of Defense’s National Security Innovation Network (NSIN) and named UW alumnus Justin Dunnicliff as university program director to run NSIN programs at UW, connecting students to DoD-related research and employment opportunities. The article also notes Meredith Han, an early Amazon employee and angel investor, has become VP of product at FlyHomes.

Ex-Zillow CEO Spencer Rascoff and dotloop Founder Austin Allison Launch Pacaso, Raise $17M Seed and $250M Debt to Fractionalize Second-Home Ownership

Former Zillow CEO Spencer Rascoff and dotloop founder Austin Allison launched Pacaso, a startup that fractionalizes second-home ownership and manages co-owned properties. The company announced a $17 million seed round led by Maveron plus $250 million in debt to buy homes and partners with agents to form LLCs for shared ownership.

Ignition Partners investors spin out Fuse Venture Partners led by Kellan Carter, Cameron Borumand and Seahawks star Bobby Wagner

A group of investors from Seattle VC firm Ignition Partners, including managing partner John Connors, have launched a spinoff called Fuse Venture Partners led by general partners Kellan Carter and Cameron Borumand and featuring Seahawks linebacker Bobby Wagner as a venture partner. Ignite will sunset its brand while Fuse focuses on doubling down in Seattle and managing new investments, with Wagner committing to active involvement.

Maveron leads $30M Series B in Wave with Scooter Braun and Alex Rodriguez to scale virtual concert platform

Los Angeles-based virtual entertainment startup Wave raised $30 million in a Series B led by Seattle VC Maveron, with participation from Griffin Gaming Partners, Scooter Braun, and Alex Rodriguez to expand its live virtual concert platform. Wave will use the funding to build new in-stream experiences, expand into markets including Japan and China, and has hosted over 50 events with up to 400,000 attendees.

Seattle Startup CEOs Condemn Racism, Urge Action and Investment in Black Founders After George Floyds Death

Seattle startup leaders publicly condemned racism after George Floyd’s death and pledged concrete actions — including learning, speaking up, and pushing for investments in entrepreneurs of color — while noting tech’s role in inequality and recent moves like SoftBank’s $100 million fund.

Pro.com lays off 52 employees as COVID-19 halts construction; CEO Matt Williams confirms WARN filing

Seattle-based Pro.com laid off 52 employees after COVID-19 halted its construction work, and the company is resuming jobs with new safety and contact-tracing measures. CEO Matt Williams said the cuts were disclosed in a Washington WARN filing and affect a company that employs about 150 people on LinkedIn.

Jason Stoffer (Maveron) - Mediocre Markets, Early Traction, and Knowing Your Weaknesses

Jason Stoffer is a General Partner at Maveron. Maveron is a premier consumer focused fund that invests in seed and Series A companies that empower consumers to live on their terms. Some of Maveron’s investments include Everlane, Allbirds, General Assembly, eBay, and Coursehero. Jason is focused on investing in education, e-commerce, and technology-enabled consumer businesses. Jason Stoffer was an early Board member at zulily. He sourced Maveron's investments in, and currently serves on the boards of General Assembly, Julep, Lively and Dolls Kill. He also led several of Maveron's most promising seed investments, including CourseHero, Everlane an...

Clayton Lewis

Clayton Lewis was one of the youngest Chiefs of Staff on Capitol Hill before he pivoted to the private sector at age 30. Since then, he’s helped take two companies public and was General Partner at Maveron for over a decade. His most recent company, Arivale, had several successful years and raised over $50 million before it closed down earlier this year. Clayton discusses his path into politics, his passion for health and wellness and how closing Arivale’s doors was “tragic” for him. He also chats with us about being a publicly gay leader in Seattle, what his upbringing was…

Watch a venture capital investor weighs in on WeWork's IPO filing

WeWork released its much-anticipated IPO prospectus, joining a flurry of tech companies going public in 2019. Dan Levitan, co-founder and partner of venture capital firm Maveron joins "Squawk Box" to discuss. The firms investments include Allbirds, Everlane, Keeps and Tile.

Dan Levitan

Co-founder of Maveron, Dan Levitan, discusses his extensive careers in both investment banking and venture capital. At age 40, Dan pivoted his career by uprooting his life in New York City, moving to Seattle, and starting Maveron with former Starbucks CEO, Howard Schultz. Through his venture capital firm, Dan is focused on helping build and monetize consumer brands. Some of the companies in his portfolio include Zulily, Potbelly, eBay, and Allbirds. In this episode, Dan shares his love for Duke University, what influenced his decision to quit his successful career and move across the country, and his appreciation for his…

Why Arivale failed

Founded in 2015, Seattle startup Arivale aspired to pioneer a new sector called scientific wellness, combining genetic testing with personal coaching to improve the health of its members. Its founder, genomics legend Lee Hood, said the company "really stands a chance of being the Google or Microsoft of this whole arena." But four years later, Arivale abruptly closed its doors this week. We explain what happened with special guest, GeekWire chief business officer Daniel Rossi, an Arivale member whose experience in the program was chronicled in our 2017 series. Plus, Microsoft breaks the trillion-dollar mark, Bill Gates serves as a…

Co-living Startup Common Launches Two Shared-Living Buildings in Seattle with $1,600 Monthly Rent

Common, a New York-based co-living startup, has launched two buildings in Seattle offering private rooms with shared amenities for about $1,600 per month, aiming to provide more affordable housing alternatives in the city's expensive market. The company highlights these flexible, community-driven homes as a solution to Seattle's housing supply and demand challenges.

Seattle's Portal VR Founder Compares Current VR/AR Hype to 1990s Internet Video Struggles

Virtual and augmented reality (VR/AR) technology is currently experiencing hype similar to the early days of internet video, with startups and companies investing heavily despite limited consumer adoption. Industry insiders, like Tim Harader who runs Portal VR in Seattle, see parallels but remain uncertain if VR/AR will eventually achieve mass market penetration akin to digital video.

How to Put Yourself in a Position to Win!

Ask yourself: What is winning for you and how do you put yourself in a position to win? If you really are convinced what winning is, be willing to take the risk, realizing you might fail, and you are going to learn from it either way. How to Put Yourself in a Position to Win! By Marshall Goldsmith One of my coaching clients is Dan Levitan, managing partner of the venture capital firm Maveron. Dan is different that most of my coaching clients who are mostly leaders of big corporations. I’ve learned a lot from coaching Dan, including the importance…

Mike Grabham, Startup Grind Eastside w/ Dan Levitan, Founder, Maveron