I’m proud to announce GGV Capital is leading a $20M Series B investment in Opendoor, a startup taking aim at revolutionizing the market for buying and selling homes. I’ve joined the board as part of the financing.
Today Synack announced a $25M Series B financing. GGV Capital is delighted to have co-led this financing alongside Icon Ventures, with participation from existing investors Kleiner Perkins and Google Ventures. Pursuant to this investment, I’ve joined Synack’s board of directors.
My partners and I are super excited to have invested in Synack. Our enthusiasm is driven by several key factors:
Several private, venture-backed companies have achieved rapid and extreme valuation mark-ups. This has obviously been going on for some time now in Silicon Valley and the private tech sector, but the magnitude and frequency of the recent write-ups I’ve seen has given me pause. I’ve been trying to piece together the ingredients that are creating this environment, and in my opinion it comes down to the following: scarcity, momentum, FOMO, and gains.
(1) Scarcity as a Driver
Last week I was fortunate to attend The Big Talk Summit at the Computer History Museum in Mountain View. This was the first time The Big Talk was hosted in Silicon Valley, and this particular event brought together a cross-disciplinary group of leading entrepreneurs, developers, and thought leaders to explore the convergence of fast-moving technologies in the reinvention and future of our society.