Maveron

Maveron
Type Private company
Industry Private equity
Founded 1998
Founder(s) Dan Levitan
Howard Schultz
Headquarters Seattle
San Francisco
Products Venture capital
Website www.maveron.com

Maveron is a venture capital firm with offices in Seattle and San Francisco that invests in consumer-focused businesses. The firm was founded by Dan Levitan, a former managing director at Schroder Wertheim & Co., and Starbucks CEO Howard Schultz.[1]

Maveron has funded many recognizable consumer brands, including eBay,[2] Drugstore.com,[3] Lucy Activewear, Pinkberry, Potbelly Sandwich Works,[4] Cranium, and Shutterfly. Some of Maveron’s newest investments include NextFoods, maker of GoodBelly probiotic fruit juice; Altius Education, which works with academic institutions to create online university programs; Trupanion; and Zulily, a private sale site offering daily deals for moms, babies and kids.

Contents

History

In 1991, Schultz chose Levitan to implement Starbucks’ IPO, and a friendship quickly developed. By 1993, Levitan and Schultz began investing together in several consumer businesses. In 1997, Levitan decided to leave New York and head west to Seattle to start Maveron with Schultz. The firm opened its doors in January 1998. Maveron's name is a combination of "maverick" and "vision".[5]

Exits

Monetized exits include: eBay, Capella Education Company, Shutterfly, Cranium (acquired by Hasbro), Qsent (acquired by TransUnion), Quellos (acquired by Blackrock), Good Technology (acquired by Motorola), Lucy Activewear (acquired by VF Corporation), and AuctionPay (acquired by Global Payments).

References

  1. ^ Arnold, Glen (2008). Corporate financial management. Pearson Education. p. 496. ISBN 9780273710417. 
  2. ^ Gardner, David; Tom Gardner (2002). The Motley Fool's What to Do with Your Money Now: Ten Steps to Staying Up in a Down Market. Simon & Schuster. p. 33. ISBN 9780743233781. 
  3. ^ Moe, Michael (2007). Finding the Next Starbucks: How to Identify and Invest in the Hot Stocks of Tomorrow. Portfolio. p. 144. ISBN 9781591841890. 
  4. ^ Rubinfeld, Arthur; Collins Hemingway (2005). Built for growth: expanding your business around the corner or across the globe. Wharton School Publishing. p. 161. ISBN 9780131465749. 
  5. ^ "Maveron has $350 million, is ready to play". Seattle Post-Intelligencer. March 3, 2000. http://www.seattlepi.com/business/vc032.shtml. Retrieved April 1, 2010. 

External links