Michael Moritz News
28.07 / 07:19
COST
Provident
BLOCK
Restructuring Plan
Sequoia Capital: From layoffs to investment cuts, know all about the venture capital firm's restructuring plan
Also Read: Sequoia Capital witnesses departures of long-time partner Michael Moritz, other key partners Other than layoffs, the company is changing fund allocation and opting for other measures to survive the current period of economic uncertainty. The venture capital firm is working on its extensive two-year "restructuring" initiative within the company. Also Read: Sequoia splits into 3 entities: India, China and US entities to operate independently from March 2024 With this restructuring, the company is planning for its transition from being the provider of one-on-one support to a model that caters to a large number of founders simultaneously.
20.07 / 19:53
Reuters
PayPal
Google
exit
Sequoia Capital partner Michael Moritz to exit firm after 38 years
Michael Moritz, the storied venture capitalist who sits on the boards of Stripe and Instacart, is leaving Sequoia Capital after 38 years, according to a letter sent to limited partners on Wednesday and viewed by Reuters. Moritz, 68, will now focus on Sequoia Heritage, a $15 billion wealth management fund that he helped launch in 2010. The fund will be independent from Sequoia Capital, with focus on a diversified range of assets, according to the letter.
01.07 / 20:55
Provident
valuation
Klarna valuation to be chopped to $6.5bn in fresh fundraise
Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with the matter, a humbling comedown and a testament to the punishing environment facing startup companies.
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