Geoff Lewis of Founders Fund has started his own venture capital firmThe investor Geoff Lewis, one of the general partners at the elite Founders Fund, has officially kicked off his own venture capital firm. Lewis is partnering with Eric Stromberg, the founder of Oyster, for a new fund of up to $118 million, according to documents filed with the SEC on Monday. The firm, called Bedrock Capital, promises “capital for one-of-a-kind companies,” according to its website. News about Lewis’s departure from Founders Fund emerged this summer, though details were scarce at the time. Lewis began at his new firm in July, according to his LinkedIn page, which also notes his fund intends to lead private companies’ Series A and B rounds. [ Re/Code ] Poshmark raises $87.5 million for fashion resale marketplacePoshmark, the app for fashion consignment, has raised another $87.5 million in funding led by Singapore-based Temasek. Menlo Ventures, GGV Capital, Mayfield and others also participated. Having raised $160 million to date, the startup is well-capitalized and plans to use the money to build out its stylist-matching technology. Poshmark is launching voice integration with Amazon’s Alexa platform, that will allow users to describe what they want and then receive outfits tailored to their needs. The company claims that one in 50 women in America use Poshmark to sell clothing and accessories. It’s also been growing its men’s and children’s categories. [ Tech Crunch ] Airbnb Is Said to Reach Net Revenue of $1 Billion Last QuarterAirbnb Inc., the home and apartment rental company, pulled in about $1 billion in net revenue for the quarter ended in September, according to people familiar with its financial results. The third quarter gross income continued Airbnb’s profitability streak. The
nine-year old travel upstart has maintained a steady profit before interest, taxes and amortization, for at least 17 months, said the people who asked not to be identified discussing the private company’s earnings. Airbnb first became profitable during the second half of 2016, the people said. The $3.2 billion startup Cloudflare just bought a mega-popular company that saves money on your phone bill
30 Under 30 Venture Capital 2018: Meet The Young Investors Finding The Next Great Tech CompaniesA new generation of founders looking to build the next Facebook or Uber are shaking up tech. These leading young investors of the 30 Under 30 for Venture Capital in 2018 provide the funding and support to get them there. This year's group of up-and-coming venture capitalists hail from the nation's biggest and oldest venture capital firms and have started their own. They've created organizations to empower under-represented entrepreneurs and helped others bridge the gap from China to the U.S. They're immigrants and Bay Area lifers, early stage experts and growth stage gurus. And with a 10 women and 15 people of color in this year's class, both record numbers, they represent the faces of a rising new guard of venture capital that's shattering the stereotype of the Silicon Valley power broker. [ Forbes ] 'We Have to Do More to Support Women,' Kleiner Perkins Partner SaysJuliet de Baubigny, the senior partner in charge of hiring and recruitment at Silicon Valley venture capital firm Kleiner Perkins, has had a front row seat to some of the most formative events in the world of venture capital. Since joining Kleiner in 2001, she’s seen some of the most innovative companies grow and transform. “It’s not the industry that I came into 16 years ago,” she said at the Fortune Most Powerful Women Next Gen Summit in Laguna Niguel, Calif. on Tuesday. [ Fortune ] PODCAST: Spark Capital's Megan Quinn And Jeremy Philips Talk Big Trends In Tech InvestingWhat are investors excited about in technology? How do VC’s evaluate start-up founders? How do investors decide to bet millions of dollars on unproven companies? Megan Quinn and Jeremy Philips, both general partners at Spark Capital, join me on The Forbes Interview to share a rare look into the competitive and ever-shifting world of high stakes venture investing. [ Forbes ] Obama’s former chief data scientist, DJ Patil, joins Venrock as an adviserHere are 4 key trends in VC healthtech investmentMarketing email company SendGrid raises $131 million after pricing its IPO at $16Peter Thiel Is Silicon Valley's Walking ContradictionThis startup famously turned down an acquisition offer from Microsoft — now it's a $50 million businessExclusive: Fenox VC is opening a startup incubator in China; to launch over US$50M India-focussed fund in 2018FORMER TIME WARNER CEO AND INVESTMENT HEAD LAUNCH NEW VC FIRMThe powerful hold of Silicon Valley's venture capital priesthoodRon Conway thinks Silicon Valley needs to have its ‘eyes wide open’ to Trump, immigration and U.S. politicsIt's Hard as Hell to Raise Venture Capital as a Woman |