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<div class="image-container float_right" style="width:401px"><div class="image"></div><keyword id="1753248" type="UNKNOWN" weightage="60" keywordseo="Maveron">Maveron</keyword><keyword id="1753249" type="UNKNOWN" weightage="60" keywordseo="Dan-Levitan">Dan Levitan</keyword>, cofounder, Maveron</div>Dan Levitan, the cofounder of venture-capital firm Maveron, backed eBay a decade and a half ago.
He says it's still a good time to invest in consumer <keyword id="6362513" type="ORGANIZATION" weightage="60" keywordseo="Startups">startups</keyword>, despite a vogue in the industry for enterprise startups that primarily sell to businesses.
Maveron, which only funds early-stage consumer startups, is doubling down on the number of companies it will seed, Levitan told Business Insider.
Maveron wants to make at least one seed investment per month in a new consumer startup.
It has already funded three companies so far in 2013, and more than 15 in the last two years, including Everlane, CircleUp, Julep, and CourseHero. It has a long history of success, too. Besides eBay, Maveron funded <a href="http://www.maveron.com/portfolio.php">Shutterfly, Drugstore.com, and others</a>.
Why are so many of Levitan's peers sour on the startups he believes in?
Blame Facebook.
In 2012, after Facebook's IPO stumbled while Splunk and ServiceNow soared, enterprise startups became a hot commodity for venture funds.
That happened for a number of reasons, venture capitalist <a href="http://www.businessinsider.com/north-bridge-vc-other-vcs-are-suddenly-throwing-millions-at-my-enterprise-startups-2012-8">Jamie Goldstein told Business Insider</a> at the time. The venture industry was reacting to 2010, when the "world was gaga for social media," he said. By 2012, Facebook, Groupon, and Zynga "began to show weakness," he said—and Box, an enterprise startup, raised $125 million.
"Enterprise isn't going away," Levitan said. "I'm saying there's plenty of money out there for great consumer entrepreneurs with great consumer products attacking really big markets."
He offers Zulily as an example. Zulily, a daily-deals site for moms, launched in 2009 with $4.6 million from Maveron. In November, Andreessen Horowitz invested $85 million on a $1 billion valuation.
Levitan is looking for more e-commerce sites like Zulily as well as education and consumer health-care startups.

An Investor Who Backed eBay Says Now Is A Great Time To Do Consumer Internet Startups

<div class="KonaFilter image-container display-table"><div><div class="image on-image">MaveronDan Levitan, cofounder of Maveron.</div></div></div><ul class="summary-list"><li>Five years ago most entrepreneurs wanted to stay private as long as possible. But investor Dan Levitan thinks there's a good reason for companies to go public.</li><li>Levitan, speaking at the Milken Institute Global Conference on Monday, said going public is a great way for companies to diversify who has a say in what happens in the company. In short, it leads to better governance, he said.</li><li>As more companies take large checks from ultra-late stage investors like SoftBank, they also give up more control. "What I've talked to some founders about is, do you want to be captive to one investor?" he said.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Read more stories on the Business Insider homepage.</a></li></ul>BEVERLY HILLS - Looking for a reason to take your company public? Consider the benefits of getting out from under your VC's thumb.So says Dan Levitan, co-founder and partner at the consumer venture capital firm Maveron. Levitan, whose investments range from <a href="https://www.businessinsider.com/category/allbirds">Allbirds</a> to <a href="https://www.businessinsider.com/category/eBay">eBay</a>, said he sees the tide changing from five years ago when entrepreneurs were fully committed to staying private. Now, Levitan wants more entrepreneurs to see an <a href="https://www.businessinsider.com/category/IPO">IPO</a> as a way to escape domineering investors or conflicts on the board level, he said Monday at the Milken Institute Global Conference during a panel looking at the current wave of tech IPOs. A public governance model is the best way to do that, in his view."We're five years into this experiment of large firms like SoftBank and others taking outsized platforms and putting in hundreds of millions if not billions of dollars," Levitan said. "What I've talked to some founders about is, do you want to be captive to one investor?"Levitan said to look at <a href="https://www.businessinsider.com/category/uber">Uber</a> as a classic example of a "highly dysfunctional" private governance structure."The IPO, bizarrely, is an attractive thing to the management team because they're being pulled in different ways," Levitan said.Read more: <a href="https://www.businessinsider.com/harvard-researchers-lyft-investors-will-regret-dual-class-structure-2019-4">Harvard researchers say that Lyft investors will likely come to regret giving the cofounders so much control with so little stock</a>Axios editor Dan Primack, who moderated the panel, then asked whether Levitan thinks IPOs improve governance in the case of dual class public listings, which give founders and early board members high-vote stock and disproportionate decision-making powers compared to public investors."I think it's better governance than being private," Levitan said.Kara Nortman, partner at UpFront Ventures, had her own take on mega late-stage investors to share during the panel: <a href="https://www.businessinsider.com/kara-nortman-ring-upfront-founder-softbank-2019-4">she thinks they're less loyal to the founders</a>. "I think that is the value of a longterm early stage investor. Our job is to help you build the team, help you get capital, and be your sparring partner. I don't think that ever goes away," Nortman said.<h2>Read more from Milken:</h2><a href="https://www.businessinsider.com/global-elite-at-milken-cant-stop-talking-about-populism-2019-4">'If you have no capital, why be a capitalist?': The global elite at Milken can't stop talking about populism</a><div data-bi-ad="" id="gpt-post-clusterstock-desktop_in_post_ad-desktop-5cccaf72128305.75253128" data-force="" data-type="ad" data-adunit="business-insider/finance/post" data-secvert="sai,prime" data-pagetype="post" data-tag="bi-prime,milken-2019,gender,finance,christine-lagarde,jesse-draper,katie-oreilly,mina-pacheco-nazemi,david-warren,megan-mcdonald,point72,steve-cohen,hedgefunds,venture-capital" data-authors="becky-peterson" data-views="" data-region="Desktop In Post Ad" data-responsive="[{" browserLimit:00slotSize:300250fluidbrowserLimit:6000slotSize:300250fluidbrowserLimit:12600slotSize:72890300250fluidlocation:inline="" data-tile-order="tile-5" data-url="milken-global-conference-shows-finance-all-talk-on-gender-equality-2019-5" data-amazontamsizes="[[300,250],[728,90]]" data-google-query-id="CN7Ok6ykgOICFQiEYgod4c4Njw"><div id="google_ads_iframe_/4442842/business-insider/finance/post_9__container__"><a href="https://www.businessinsider.com/debt-crisis-christine-lagarde-explains-why-she-is-double-concerned-2019-4">IMF chief Christine Lagarde outlines her 2 major worries around the global economy - and explains why they're sowing the seeds of a new crisis</a></div></div><a href="https://www.businessinsider.com/stock-market-forecast-for-decade-of-weak-returns-scott-minerd-2019-4">The investment chief at $265 billion juggernaut Guggenheim made the crowd at Milken gasp with a bold stock-market forecast</a><a href="https://www.businessinsider.com/milken-conference-2019-panelists-discuss-the-global-economy-future-2019-4">The global elite at Milken have zeroed in on an overlooked signal they say will determine the future of the global economy</a> <a href="https://www.businessinsider.com/intelligence/ai-101?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=appsandplatforms&amp;itm_campaign=ai-101"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/5g-high-speed-internet-cellular-network-issues-switch-2019-4">5G networks will be 10 times faster than 4G LTE, but we shouldn't get too excited yet</a></h3> <div> </div> </div>

The investor behind companies like eBay and Allbirds says IPOs give startups the freedom to escape domineering VCs

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Leon Neal/Getty ImagesSaudi Crown Prince Mohammed bin Salman arrives for a meeting at number 10 Downing Street on March 7, 2018 in London, England.</div></div></div><ul class="summary-list"><li>Members of an advisory board for a $500 billion Saudi megacity project are distancing themselves from the organisation after the reported murder of a dissident Saudi journalist.</li><li>Google-linked executive Dan Doctoroff and ex-US secretary of energy Ernest Moriz have now dropped out of the project.</li><li>Apple's Jony Ive was initially on the list, but Apple says his inclusion was a mistake and he has nothing to do with the project.</li><li>The other 16 members of the board did not respond to Business Insider's multiple requests for comment.</li></ul>A senior executive who works for Google's parent company and a former US secretary of energy have dropped out of a Saudi Arabia tech and business advisory board following <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international">international</keyword> outcry over the disappearance and alleged murder of a dissident Saudi journalist. On Tuesday, the <a href="https://www.argaam.com/en/article/articledetail/id/574181">Saudi news outlet Argaam reported</a> that Neom - a $500 billion megacity project being built by the country - had formed a new advisory board.<a href="https://www.businessinsider.com/tech-execs-named-saudi-board-controversy-jamal-khashoggi-disappearance-2018-10">Members mentioned in the announcement included</a> famed tech industry investor Marc Andreessen; Dan Doctoroff, CEO of Google parent company Alphabet's urban planning unit Sidewalk Labs; Travis Kalanick, ex-CEO of Uber; former European Commission vice president Neelie Kroes; ex-Dow Chemical Company CEO Andrew Liveris, and Silicon Valley investor Sam Altman.But following inquiries from journalists, members have started distancing themselves from the project. First was Apple's chief design officer Jony Ive: The initial list published by Argaam said that he was a member, but Apple subsequently said his inclusion was a mistake and that he should never have been on the list in the first place. (Argaam and Neom did not respond to Business Insider's requests for comment.)Then on Wednesday, Ernest Moriz, the former US secretary of energy, said he was "suspending" his involvement until more is known about Khashoggi's disappearance."Six months ago, I was invited to join an international advisory board for development of NEOM, a smart city of the future being built from the ground up in northwestern Saudi Arabia. In particular, I have been asked to offer guidance on achieving zero net greenhouse gas emissions. Success with this vision will have global implications for a low carbon future," he said in a statement provided to Business Insider by a spokesperson."Given current events, I am suspending my participation on the NEOM board. Going forward, my engagement with the advisory board will depend on learning all the facts about Jamal Khashoggi's disappearance over the coming days and weeks."Also on Wednesday, Sidewalk Labs' Doctoroff retreated. In a statement, spokesperson Dan Levitan said "Dan Doctoroff's inclusion on that list is incorrect. He is not a member of the NEOM advisory board." Levitan did not respond to further questions as to whether Doctoroff had ever agreed to be part of the board.Even after those departures, 16 members remain on the board, though its future looks uncertain. The other members either did not respond to Business Insider's requests for comment about their involvement, or were not reachable for comment.The new tech advisory board's announcement came as much of the news on Saudi Arabia was focused on the fate of Jamal Khashoggi, a critic of the Saudi government who disappeared after visiting the Saudi consulate in Istanbul, Turkey last week. The New York Times and several other news organizations <a href="https://www.nytimes.com/2018/10/07/world/middleeast/turkey-jamal-khashoggi-saudi-arabia.html">report that Khashoggi was murdered</a> by a team of 15 Saudi agents inside the consulate. A <a href="https://www.theguardian.com/world/2018/oct/08/jamal-khashoggi-turkey-search-black-van-carried-body-saudi-arabia">report in the Guardian on Tuesday</a> said that Turkish authorities are focused on a black van seen leaving the consulate that they believe was carrying Khashoggi's body.<div data-bi-ad="" id="ad-98194" data-force="" data-type="ad" data-adunit="business-insider/desktop/tech/sai/post" data-pagetype="post" data-tag="saudi-arabia,jony-ive" data-pos="atf" data-authors="rob-price" data-views="" data-region="Desktop In Post Ad" data-responsive="[{" browserLimit:00slotSize:300250fluidbrowserLimit:6000slotSize:300250fluidbrowserLimit:12600slotSize:72890fluidlocation:inline="" data-url="tech-execs-named-saudi-board-controversy-jamal-khashoggi-disappearance-2018-10" data-amazontamsizes="[[300,250],[728,90]]" data-google-query-id="CO2Jodnt_N0CFRTOWwod36EJXQ">Here was the initial 19-member list, according to Argaam:1) Sam Altman, the president of Y Combinator and the co-chair of OpenAI2) Marc Andreessen, co-founder and general partner of Silicon Valley venture capital firm Andreessen Horowitz3) Tim Brown, CEO and president of IDEO4) Timothy Collins, vice chairman and CEO of Ripplewood Advisors5) Alexandra Cousteau, a senior advisor to Oceana6) Dan Doctoroff, founder and CEO of Sidewalk Labs7) Norman Robert Foster, founder and CEO of Foster + Partners\8) Janvan Hest, a chemistry professor9) Jonathan Ive, Apple's chief design officer10) Travis Kalanick, CEO of City Storage Systems11) Neelie Kroes, a retired Dutch politician and vice-president of the European Commission12) Andrew N. Liveris, former CEO and chairman of Dow Chemical Company13) Ernest Moniz, founder of Energy Futures Initiative14) Marc Raibert, a former Carnegie Mellon University professor and a founder of Boston Dynamics15) Carlo Ratti, a professor of Urban Technologies and Planning, and director of SENSEable City Lab16) John Rossant, founder and chairman of the New Cities Foundation17) Masayoshi Son, a Japanese business magnate and chief executive officer of Japanese holding conglomerate SoftBank18) Rob Speyer, Tishman Speyer president and chief executive officer19) Peter Voser, chairman of ABB.Got a tip? Contact this reporter via Signal or WhatsApp at +1 (650) 636-6268 using a non-work phone, email at rprice@businessinsider.com, WeChat at robaeprice, or Twitter DM at <a href="https://twitter.com/robaeprice">@robaeprice</a>. (PR pitches by email only, please.) You can also <a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6">contact Business Insider securely via SecureDrop</a>.<h2>Now read:</h2><ul><li><a href="https://www.businessinsider.com/a16z-data-startup-executives-salary-equity-bonus-pay-2018-9">Leaked Andreessen Horowitz data reveals how much Silicon Valley startup execs really get paid, from CEOs to Sales VPs</a></li><li><a href="https://www.businessinsider.com/facebook-oculus-vr-needs-to-excite-developers-investors-2018-9">Facebook is walking a tricky tightrope with its big bet on the next frontier in human interaction, and the future of the company could be at stake</a></li><li><a href="https://www.businessinsider.com/facebook-instagram-friction-years-prior-cofounders-leaving-2018-9">There's a history of clashes hidden behind the Instagram and Facebook success story that led to Monday's bombshell breakup</a></li></ul></div>Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/sony-playstation-dualshock-perfect-controller-2018-9">How Sony created the perfect video game controller</a></h3> <div> </div> </div>

A Google linked exec and a former US politician have dropped out of a Saudi project after journalist's disappearance

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An Investor Who Backed eBay Says Now Is A Great Time To Do Consumer Internet Startups

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The investor behind companies like eBay and Allbirds says IPOs give startups the freedom to escape domineering VCs

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A Google linked exec and a former US politician have dropped out of a Saudi project after journalist's disappearance

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