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This week marks the one-year anniversary of Facebook’s public offering, and the market is still feeling its impact. Here’s how.
Kleiner Perkins Caufield & Byers, which has been taking heat in the press of late, could get a lift if Facebook acquires mobile navigation app maker Waze. Kleiner is among the VCs that have invested $67 million in the company since its founding in 2009.
Despite the popularity of Facebook and Instagram, a growing number of smartphone users are clearly looking for alternative communications platforms. The question is whether such new apps are real businesses, or if they’re just as evanescent as the technology solutions they provide.
According to separate SEC filings, Jim Breyer of Accel Partners will not run for re-election this year on either the board of Facebook, where he has been a director since 2005, or on the board of Wal-Mart, whose board he joined in 2000.
Providing what appears to be a sizable exit for Ignition Partners and other venture firms, Facebook today acquired startup Parse Inc., which offers a cloud-based mobile application platform. Ignition was the startup’s largest venture backer.
Charles Jolley has joined Battery Ventures as an Entrepreneur in Residence in its Menlo Park office. Most recently, Jolley was Facebook’s Mobile Platform Head of Product and co-founder of Strobe, a mobile software company that was acquired by Facebook.
Thanks in part to the Facebook IPO, venture investors in 2012 saw their best return on invested capital in a decade. A steady rise in the ratio of portfolio company exit size to capital raised continued through the year.
Facebook has appointed a former Genentech executive to its board of directors, writes Reuters. Susan Desmond-Hellman, the Chancellor of the University of California, San Francisco, becomes Facebook’s ninth director and the second woman on its board.