Given that we are just about at year-end, I wanted to provide a recap of some of the most memorable moments that took place in the venture capital and technology ecosystem. Below is a list of the 10 most important events:
First VC backed technology IPO – OpenTable goes public at $20/share on May 21st http://www.techcrunch.com/2009/05/21/opentable-has-a-healthy-ipo-shares-shoot-up-40-percent-market-cap-hits-600-million/
First VC backed acquisition (above $500M) – Pure Digital acquired by Cisco for $590M – http://gigaom.com/2009/03/19/cisco-to-buy-pure-digital-for-590m/
First VC backed cleantech IPO – A123 goes public at $17/share on September 23rd http://seekingalpha.com/article/160794-a123-s-ipo-could-open-the-floodgates-for-greentech-sector
Khosla Ventures raises $1.1B – in 2009 most VC funds were shrinking in size, yet Khosla Ventures was able to raise $1.1B, this event was a sign that Limited Partners (L.P.s) we actively seeking investment opportunities in the VC sector – September 1st
http://www.nytimes.com/2009/09/01/business/01khosla.html
Tesla Motors receives $465M from the D.O.E – First technology company to receive a loan guaranty – June 23rd http://www.techcrunch.com/2009/06/23/the-government-comes-through-for-tesla-with-a-465-million-loan-for-its-electric-sedan/
Twitter raises a $100M VC round of financing – at a time when there are questions about the consumer internet sector, this funding provided some positive support that $ can be made in the sector – September 25th
http://gigaom.com/2009/09/26/why-investing-100m-in-twitter-isnt-crazy/
NASDAQ closes above 2,000 – August 3rd- the previous time NASDAQ was above 2,000 was September 30, 2008
http://www.marketwatch.com/story/tech-rally-pushes-nasdaq-to-close-above-2000-2009-08-03
Dow Jones Industrial Average closes above 10,000 – October 14th – the previous time the Dow was above 10,000 was October 2, 2008
http://www.nytimes.com/2009/10/15/business/15markets.html
Apple App Store gets more that 100,000 applications published – November 4th – as you may recall the App Store launched on July 10, 2008 and the creation of the iPhone and App Store has created opportunities for both VCs and Startups to make $$
http://www.apple.com/pr/library/2009/11/04appstore.html
Facebook Connect is widely adopted by 60M users and 80K sites – the utilization of Facebook Connect has allowed startup companies a way to reduce the time / effort for their users to sign up for a particular service
Other memorable moments which didn’t make my top 10:
Canopy Financial is accused of stealing money from investors – December 10th – this serves as a good reminder that investors need to spend more time on diligence and remember their fiduciary responsibilities
http://www.pehub.com/57905/canopy-financial-execs-accused-of-stealing-from-clients/
legislation that might change the way Carried Interest is taxed
Adoption of the Android Platform
http://www.pocketgamer.co.uk/r/Android/Google+Phone/feature.asp?c=17312
Did I miss any major moments or events? Let me know your thoughts.
FWIW I’d add a couple of other 2009 stories that I think will have a huge impact in 2010, and they’re both related:
1) Andreessen Horowitz – I think this fund could prove to be one of the most interesting new VCs in years and I’d watch them for a portfolio that will outperform many established players
2) Skype – now that Skype owns its own technology it can build out APIs to let the developer community access that 550 million user social graph and quickly become a social platform to be reckoned with
Eric Schmidt leaving the Apple board. That moment captured the new dynamic that will play out in 2010: Google vs. Apple, from the netbook to the smartphone to the search engine (at a minimum for music, once iTunes goes web).