Craft Ventures: Difference between revisions
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==Background== |
==Background== |
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Craft was established in 2017 by [[David O. Sacks]], formerly of [[Paypal]] |
Craft was established in 2017 by [[David O. Sacks]], formerly of Yammer and [[Paypal]]<ref name="WSJ1018">{{cite web|author=Chernova, Yuliya|url=https://www.wsj.com/articles/david-sacks-looks-to-raise-up-to-500-million-for-second-craft-ventures-fund-1540788790?tpl=venturecapital|title=David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund |publisher=''[[Wall Street Journal]]''|date=29 October 2018}}</ref> and Bill Lee.<ref name="Axios 2017">{{cite news | last=Primack | first=Dan | title=Ex-Zenefits CEO David Sacks raising VC fund | website=Axios | date=6 October 2017| url=https://www.axios.com/ex-zenefits-ceo-david-sacks-raising-vc-fund-1513306013-d12d6a6b-9222-4617-8202-7ed419852fb9.html | accessdate=3 June 2018}}</ref><ref name="Jackson 2018">{{cite news | last=Jackson | first=Eric | title=Ex-PayPal executive David Sacks explains how his new company will change crypto trading | website=CNBC | date=6 February 2018| url=https://www.cnbc.com/2018/02/06/ex-paypal-david-sacks-on-craft-fund-and-harbor.html | accessdate=3 June 2018}}</ref> Sacks stated that the firm's name was selected as it "represents our view that company building is a craft that we've learned over the course of founding four companies with successful exits".<ref name="Jackson 2018"/> [[Jeff Fluhr]] is a general partner in Craft.<ref name="Bloomberg">{{cite web|url= https://www.bloomberg.com/research/stocks/private/person.asp?personId=10871195&privcapId=137079217 |title=Jeff Fluhr|publisher=[[Bloomberg]]|accessdate=1 November 2018}}</ref> |
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==Ventures== |
==Ventures== |
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Revision as of 22:36, 1 November 2018
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2017 |
| Founder | David O. Sacks, Bill Lee |
| Headquarters | San Francisco |
| Products | Venture capital |
| Total assets | $350 million |
| Website | craftventures |
| Footnotes / references [1] | |
Craft Ventures is a venture capital firm based in San Francisco, focusing on technology and cryptocurrency. Craft was launched in 2017 by David O. Sacks and Bill Lee. As of November 2018 it has invested in startups such as Bird, BitGo, Cloud9, Harbor, Lumina, Reddit, SpaceX, Terminal and Wayv.
Background
Craft was established in 2017 by David O. Sacks, formerly of Yammer and Paypal[2] and Bill Lee.[3][4] Sacks stated that the firm's name was selected as it "represents our view that company building is a craft that we've learned over the course of founding four companies with successful exits".[4] Jeff Fluhr is a general partner in Craft.[5]
Ventures
Craft's first investment was leading a series A round for Bird, a scooter sharing company.[6] The firm further invested in a series B round of funding.[7][8]
Craft's invested in BitGo, along with the likes of Goldman Sachs, Galaxy Digital Ventures and Valor Equity Partners.[4][9] Craft Ventures, in conjunction with Peter Thiel’s Founders Fund, Chamath Palihapitiya and Reddit co-founder Alexis Ohanian invested $28 million into eSports startup Cloud9, and are aiming to expand it into a billion dollar global entertainment business.[10] Due to Sacks's interest in real estate tokens, which he predicts will be popular in the future, Craft have invested in Harbor, a blockchain company which helps firms tokenize their assets.[11][12] In October 2018, Craft invested in Wayv, a startup B2B logistics platform for the cannabis industry which permits retailers to buy from a network of licensed companies and allow for next-day deliveries.[13][14] Craft have also invested in Lumina, Reddit, SpaceX, and talent-outsourcing startup Terminal.[2]
References
- ^ Primack, Dan (4 January 2018). "David Sacks teams with Bill Lee to raise $350 million VC fund". Axios. Retrieved 3 June 2018.
- ^ a b Chernova, Yuliya (29 October 2018). "David Sacks Looks to Raise Up to $500 Million for Second Craft Ventures Fund". Wall Street Journal.
{{cite web}}: Italic or bold markup not allowed in:|publisher=(help) - ^ Primack, Dan (6 October 2017). "Ex-Zenefits CEO David Sacks raising VC fund". Axios. Retrieved 3 June 2018.
- ^ a b c Jackson, Eric (6 February 2018). "Ex-PayPal executive David Sacks explains how his new company will change crypto trading". CNBC. Retrieved 3 June 2018.
- ^ "Jeff Fluhr". Bloomberg. Retrieved 1 November 2018.
- ^ "Bird Raises $15 Million in Series A Funding, Led by Craft Ventures". PR Newswire (Press release). Santa Monica, California. 13 February 2018. Retrieved 3 June 2018.
- ^ "Bird Announces $100 Million in Series B Funding". bird.co (Press release). Santa Monica, California. 9 March 2018. Retrieved 3 June 2018.
- ^ "Craft Ventures". Crunchbase. Retrieved 3 June 2018.
- ^ "Blockchain security company BitGo pulls in $57.5 mln Series B". Pe Hub Network. 19 October 2018. Retrieved 1 November 2018.
- ^ "Can This Man Make His Video Gaming Team a $1 Billion Business?". 6 August 2018. Retrieved 1 November 2018.
- ^ "PayPal Alum: How Blockchain Will Change Investing and Why Real Estate Will Be First". Fortune. 19 May 2018. Retrieved 1 November 2018.
{{cite web}}: Italic or bold markup not allowed in:|publisher=(help) - ^ "David Sacks's new startup wants to make it safer for old-guard industries to jump into crypto". Tech Crunch. Retrieved 1 November 2018.
- ^ "Cannabis platform Wayv receives $5M in seed funding from Craft Ventures". Mobilepaymentstoday.com. 29 October 2018. Retrieved 1 November 2018.
- ^ "Eaze co-founder inks $5 million raise for marijuana logistics firm". Marijuana Business. 30 October 2018. Retrieved 1 November 2018.
