Maveron Edit
Maveron Edit
Best Wishes,
Maveron Family & Friends,
This year has been a constant practice of
gratitude - gratitude for health, gratitude for our
frontline workers, and immense gratitude for
the people (and technology!) that made us feel
connected despite being physically so far apart.
As 2020 has changed every facet of our lives,
we decided to shift the focus of our year-end
reflection. Rather than gifting ideas, we are
instead sharing our predictions, our values, and
the little things that got us through 2020.
From the bottom of our hearts, we wish you, and
your families, a very happy holiday season!
A NOTE FROM THE TEAM
Our Team
P A G E 0 3
The surge in screen time is fueled by a yearning for connectedness
2020 has been a relentless year of change. Our routines were
uprooted, our sense of security was disrupted, and a cloud of
uncertainty hung throughout the year.
As investors we wanted to see past the fog and wrestle with
the questions of what behaviors are short term reactionary to
COVID, which behaviors are longer lasting and where are there
pockets of opportunity. Here are a few of our predictions...
CONSUMER PREDICTIONS
01COVID massively accelerated
e-commerce adoption by bringing in
new shoppers and sellers that are
here to stay.
02Telehealth experienced a paradigm
shift in 2020. Favorable regulation
and increased familiarity with the
modality present a radically new way
we will receive care.
03The surge in screen time is fueled
by a yearning for connectedness -
gaming, social, and entertainment
platforms are all vying to be that third
space where youth connect through
shared experiences.
04The country is more divided than
ever - from wealth to ideology - and
people are finding their divisions and
tribes online. We see opportunities
for brands to stand for those tribes,
to build platforms that can host them,
and to harness the good that digital
tribes can offer.
P A G E 0 5
FebuaryMaveron co-leads the Series A in The Landing, founded by former Shipt founder Bill Smith
AprilAnarghya Vardhana welcomes a daughter, Dhimahee, to her family
MayImperfect Foods raises $72M in Series C to expand their growth
Nécessarie debuts their all natural, clean, toxic free deodorant
SeptemberAllbirds raises $100M from Franklin Templeton
Maveron leads a Series A in a plant based chicken company - Daring
Modern Fertility's pregnancy and ovulation tests became available in 1,600 Walmart locations
BookClub, a Maveron led Series A investment, launches so readers can chat with their favorite authors
Thirty Madison raises a $47M Series B
JuneJohn Legend performs a live, immersive, virtual concert on Wave. Wave was the first Series A investment Maveron led in January 2020
JulyMaveron engages a social impact consultancy, Community Action Partners to advance equity and inclusion within the firm and portfolio
AugustCourse Hero $80 million Series B round is one of the largest U.S. funding deals of 2020, and brings Course Hero’s valuation to $1.1B
Maveron joins 9 other venture firms to increase diversity on cap tables
OctoberDirect-to-consumer hearing aid manufacturer, Eargo, goes public!
Pacaso, Series A investment led by Maveron, launches a new ownership model to buy second homes
DecemberLovevery launches its first ever home good collection
Pete McCormick adopts a puppy!
As Americans rush to adopt pets, Trupanion, hits $4B market cap. Maveron led the Series A fourteen years ago, long believers in pet insurance space!
YEAR IN A GLANCE
P A G E 0 7
Born to a family of engineers, Jerry grew
up perpetually curious about the world.
With the Lego set his parents bought
him for his fifth birthday, he became
fascinated with using the little bricks
to build whatever came to mind. This
fascination would later influence him
to follow his parents’ path becoming
an engineer. After graduating with a BS
and MS from UC Berkeley, he started
his career in consumer tech and then
spent several years in media, both as
an operator and investor.
Prior to Maveron, Jerry was at Advancit
Capital, a media-focused investment
fund investing in tech-enabled,
consumer, and next-generation media
companies. In addition to completing
his MBA at Wharton, Jerry spent his
time before becoming an investor as an
operator, leading operations at Spate
(a YC-backed startup using data to
predict the next big consumer trends).
He built his career as a data scientist at
Google, where he helped to launch and
grow YouTube’s first paid subscription
businesses (YouTube Red, YouTube
Music, YouTube TV).
Every Christmas, Jerry goes back to
Taiwan to spend time with his family.
And since his grandfather's birthday
also happens to be the day after
Christmas, the holidays become the
one time of the year for which his
extended family all fly back to celebrate
and spend time with each other.
Jerry Lu
NEW FACES
Veronica Reaves
Imagine growing up with kids of all ages in
every room of your home for twenty-four
hours a day. Veronica did, and as a result
she is great at building relationships
and solving problems. She took her
talent to Deloitte Consulting where she
launched an initiative to help support
social entrepreneurs in solving their
organization’s most challenging problems.
Her passion for helping entrepreneurs
succeed led her to move to the island
of Mauritius to help launch the edtech
startup African Leadership University,
named one of Africa’s most innovative
companies by Fast Company in 2016.
Originally from Seattle, Veronica has a
keen nose and taste for a great cup of
coffee and loves being outside. She is an
avid traveler who has flown around the
world twice. When she is not traveling or
working with founders, she is spending
time with family and loved ones.
When in Seattle for Christmas, the family
tradition is to spend the day at her Aunt
Sandra’s house with the rest of her
large extended family. Veronica’s family
matriarch is her grandmother, Mary
Taylor, who turns 92 this year. Mary has
six daughters who all live in the Seattle
area with their families. Needless to
say, every Christmas at Aunt Sandra’s is
packed with many family members and
everyone looks forward to the family
karaoke battle after dinner. This year’s
battle will have to go digital with families
competing over Zoom!
P A G E 0 9
American consciousness has the power to accelerate social
justice and to help repair the world. Rather than just sitting
by the sidelines, Maveron chose to take action! This year the
Maveron team selected to donate $8,000 each to four key
organizations fighting for social justice in unique and equally
important ways. The Equal Justice Initiative, World Central
Kitchen, The Hidden Genius Project, and Youth Care Seattle.
These organizations are focused on criminal justice reform,
youth education and shelter, and food insecurity. We hope
that as you round the year out you also take some time to
reflect and give to organizations you cherish and who are
helping to make a difference.
This year has been a year of great
triumph, great loss, and great
reckoning. How we live, work, eat,
play, learn, and even mourn was
quickly redefined and transformed
by none other than nature itself.
Non-normalcy is a trait we often
seek in our founders, and yet, we
are all enduring a non-normal life
experience that has impacted each
of our lives in both similar and
different ways. So, what did we
learn? 2020 has forced each of us
to think critically about what
matters most in our lives. This year
has also gifted us with an enhanced
ability to empathize and listen to
the experience of those who may
not share our same background,
race, ethnicity, and or privileges.
As the Maveron team reflected on
these lessons, we also shared a
great sense of hope for what the
future could be. We believe that
the collective awakening of the
GIVING TUESDAY
P A G E 1 1
BOOK AND RECIPERECOMMENDATIONS
P A G E 1 3
Just Mercy Bryan Stevenson
A powerful true story about the potential for mercy to redeem us, and a clarion call to fix our broken system of justice—from one of the most brilliant and influential lawyers of our time.
No Rules Rules: Netflix and the Culture of ReinventionReed Hastings
Greenlights Matthew
McConaughey
Transcendent Kingdom Yaa Gyasi
Caste: The Origins of Our Discontents Isabel Wilkerson
Becoming Michelle Obama
Educated Tara Westover
LEARN MORE
P A G E 1 5
HomegoingYaa Gyasi
Homegoing follows the parallel paths of sisters and their descendants through eight generations. Yaa Gyasi’s extraordinary novel illuminates slavery’s troubled legacy both for those who were taken and those who stayed—and shows how the memory of captivity has been inscribed on the soul of our nation.
The Biggest BluffMaria Konnikova
Dignity: Seeking Respect in Back Row AmericaChris Arnade
Younger Next Year Chris Crowley and
Henry Lodge
LEARN MORE
P A G E 1 7
Hot Toddy
INGREDIENTS1 cup water
1 tea bag
1 tbsp honey
1 1/2 oz whiskey, brandy, or rum
1 tbsp freshly squeezed lemon juice
OPTIONAL GARNISHES Lemon wedge
Cinnamon sticks
DIRECTIONSSteep the tea bag in freshly boiled water
for 10-minutes (Yogi Throat Comfort is
my favorite—subtly spiced and perfect
for winter). Make sure to cover the cup!
Once steeped, mix in the honey.
Then add the freshly squeezed lemon
and pour the liquor of choice (whiskey is
my favorite for this recipe).
Stir well and drink!
P A G E 1 9
VIEW RECIPE VIEW RECIPE
VIEW RECIPE VIEW RECIPE
Apple Tart Ina Garten
Ribollita Fall SoupGiada De Laurentiis
Vegetarian Mexican Casserole Jolinda Hackett
Crockpot White Chicken ChiliErin Clarke
Bake Ina Garten's French Apple Tart
recipe from Barefoot Contessa on Food
Network with Granny Smith apples atop
buttery, homemade pastry dough.
Ribollita is a traditional centuries-old
Tuscan soup that is made from reboiling
vegetable soup the next day with the
addition of bread.
This lacto-vegetarian Mexican-inspired
casserole recipe is a one dish vegetarian
casserole perfect for busy nights and
the entire family.
This recipie is prized for its easy prep,
creamy texture, and healthy ingredients.
It also allows you to work on something
else while it cooks!
P A G E 2 1
More time in nature! Hiking, fishing
gardening, biking, exploring
Connect with extended family
digitally and dress up from time
to time
Start a regular virtual game night
with old friends
Clean out/organize your closets
Take walks around the city.
Rediscover San Francisco's beauty
with less people around
Walk the Brooklyn Bridge and
explore new parts of Williamsburg
Walk to Pikes Place, and enjoy
Seattle's landmarks without
the crowds
Go on walks every day (with or
without the family dog), workout
a ton - weights, jump rope and
Peloton for the win!
Add a stretching evening routine -
as soon as you finish work fire up a
25-30 minute stretching video. Your
joints and muscles will thank you!
Walk to your local coffee shop to
get out of the house
Binge on the Crown, After Life,
Ozark and Stranger Things
Basketball with the kids, or try
setting up aquariums for them
Stay calm - recognizing this too
shall eventually pass
QUARANTINE ACTIVITIES
P A G E 2 3
From Tina Turner to Drake, there's something for everyone.Check out the Maveron Mood playlist on Spotify.
Bye Bye BabyBay City Rollers
'Till I CollapseEminem,
Nate Dogg
Say Something (feat. Chris Stapleton)Justin Timberlake
Peace Train10,000 Maniacs
Up all NightDrake,
Nicki Minaj
Wind of ChangeScorpions
CHECK OUT THE FULL PLAYLIST
MAVERON MOOD PLAYLIST
P A G E 2 5
We wish you health and happiness as we head into 2021!
THANK YOU -OUR FRIENDS, FOUNDERS, INVESTORS AND COMMUNITY.