Will the confined online shopping and entertainment habits continue to accelerate the e-commerce and video streaming trend?
No one knows for sure, but the Bay Area’s views of technologists and investors are, unsurprisingly, in Covid’s long-term push toward tech companies.
Rich Wong, general partner of Accel, a Silicon Valley venture capital firm, sees “a truly credible case” that the development of “these digital transformations has really increased.” Take up an important step, and with it the scale of opportunity in technology and venture capital. “
Stock market volatility may suspend startups’ plans to sell stocks to the public. But game site Roblox, loved by kids and teenagers and thrived in the home-stay economy, launched its stock market on Wednesday. After the first day of trading, Roblox is valued at $ 45 billion, up from $ 4 billion just over a year ago.
Over the weekend Coursera, the digital learning network, submitted the documents needed to go public in the coming weeks. The company and its proponents believe adult education and skills training will increasingly be online and investors will agree. In its filing, Coursera reports that its revenue grew 59% last year, to $ 294 million.
So far, there is little evidence of retreating from life online in general.
SimilarWeb, an online data provider, compared the traffic at the top 100 US websites in the past March and April, when web usage spiked at the onset of the pandemic, with the first two months of this year. Total traffic has grown by more than 12 percent this year. No “top web” yet.
Mr. Readerman, Portfolio Manager at Endurance Capital Partners, has been an analyst and investor for the technology company for 30 years. He is primarily a long-term investor in companies he sees as a technology innovator with strong management abilities.