Altos Ventures

Our third investment in the travel/hospitality industry (interesting that all 3 are outside of Silicon Valley). https://www.bizjournals.com//denver-experiential-travel-co

Busy week at Altos. After Viva Republica, TurnKey Vacation Rentals and Chairish, the fourth financing announced this week is Roblox. After working with so many B2B Software companies over the past 20 years, it's nice to have some great consumer brands in the portfolio. 7 of our top 10 companies are now in the consumer sector (with 4 doing well over $100M revenues this year). http://blogs.wsj.com//roblox-sees-strong-future-for-world/

Normally we'd be horrified to see one of our portfolio companies make the most "well funded tech company" list but zlien is in New Orleans and had produced $5 in revenue for every dollar raised (prior to our recent investment). In contrast, the average SaaS company in Silicon Valley has only $2 in revenue for every $7 raised in VC funding. That math doesn't make sense to us which is why Altos Ventures has funded more companies outside of Silicon Valley in the past decade (South Korea, Austin, Vancouver, Portland, New Orleans, Belarus, Estonia, Ukraine). https://www.cbinsights.com/bl/well-funded-startups-us-map/