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Marketplaces Investments

 

Marketplaces Highlights

houzz

Houzz Expands Marketplace Offering

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LC

Lending Club – Largest Online Marketplace in US for Consumer Credit

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Desk

Elance-ODesk Expands into New Markets

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doximity2

50% of US Doctors are on the Doximity Network—More than the AMA.

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Our Marketplaces Investing Approach

Successful online consumer and commercial marketplaces account for more than $1 trillion in public market valuation combined. Canvas Partner Paul Hsiao and others have observed that there is an evolution of horizontal marketplaces (eBay, Amazon and LinkedIn) to the emergence of specialized vertical communities (i.e. Airbnb, Houzz, and Uber) that are creating many new $10-billion plus entrepreneurial opportunities.

The convergence of cloud SaaS software, smart IoT data, machine-learning, and the ability to work anywhere makes forming new online marketplaces and professional communities possible. These new companies are re-shaping economies and becoming the new ‘operating system’ for their respective industry participants. They are making it accessible for the first time for many of the small, talented players to participate and thrive.  Furthermore, we also see their exciting, positive social impact as more women around the world are able to participate in the job market. We are very optimistic about the positive change and the economic opportunities these marketplaces unlock.

Additional marketplace examples include: lodging (Airbnb), transportation (Uber), export/import (Alibaba), home furnishing and home services (Houzz & Wayfair), shipping logistics (Transfix & XPO), fashion (TheRealReal), freelancing (Crowdflower & Upwork), crowdfunding (Lending Club, Kickstarter & Kabbage), real estate (Zillow, RealtyMogul & Roofstock), corporate services (Eden), HR & corporate learning (Glassdoor & Everwise), healthcare (Doximity), non-profit (Fluxx Labs), weddings (Zola), education (Coursera & Udemy), and others.

Here’s a closer look at some marketplace investments made by our partners over their lifetimes:

Houzz

A new way to design your home with millions of designers, consumers, and home furnishing manufacturers

Zola

One of the fastest-growing wedding registries for couples and brands targeting millennials

Transfix

One of the largest trucking-logistics marketplaces with a virtual network of more than 15,000 drivers in the US

Everwise

An enterprise social-learning leader trusted by Fortune 500 companies and more

Lending Club

A marketplace for borrowers and lenders of consumer credit

CrowdFlower

A marketplace for data scientists, brand managers, and anyone who needs data enrichment

Doximity

A vertical network for doctors

Upwork

A marketplace for freelancers

NexTag

A marketplace for shoppers and online retailers

Socrata

A marketplace for government data and citizens

Marketplaces News

Blockchain Will Work in Trucking – But Only If These 3 Things Happen

Opinion piece by Jonathan Salama, Chief Technology Officer at Transfix
March 2, 2018 | TechCrunch/by Ching Wu

Zola CEO Joins "40 Under 40" List

Friends' wedding registries frustrated Shan-Lyn Ma, who would bounce among wish lists on retailers' websites, thinking the items weren't meaningful to the couples. She envisioned a better way. With Nobu Nakaguchi, director of Gilt Groupe, and Kevin Ryan, its founder, she started Zola, an online wedding registry and marketplace.
March 29, 2017 | Crain's New York/by Ching Wu

Everwise Raises $16M Series B for Social Learning Platform

Everwise raises $16M Series B led by Sequoia to expand it's social learning platform.
October 11, 2016 | TechCrunch/by Ching Wu

Michael C. Fina Transforming Into Online-Only Retailer

Michael C. Fina, the world renowned wedding registry, closes their 80-year-old Park Avenue location and partners with Canvas portfolio company Zola.com to move their registry online.
April 4, 2016 | Multichannel Merchant/by admin

Lending Club Shares Soar 56 Percent In Market Debut

Venture investor Rebecca Lynn says people thought she was crazy back in early 2009 when the she led an early stage financing round for San Francisco-based Lending Club, an online loan marketplace for consumers and small businesses.
December 12, 2014 | Xconomy/by Ching Wu

Doximity, the Social Network for Physicians, Continues Impressive Growth

Houston surgeon Rafael Lugo needed help. He had a patient with a tumor and didn’t know what to make of it. He showed it to oncologists and surgeons in his hospital, but they were stumped as well. Lugo could take a biopsy, but wanted to avoid that given the risk factors.
December 9, 2014 | The Washington Post/by Ching Wu

Can Digital Health Tools Lower The Risk Of Malpractice Lawsuits?

Based on evidence that a breakdown in communication between doctor and patient plays a role in malpractice suits, a small Oakland, Calif.-based medical liability insurer is embarking on an intriguing experiment.
October 29, 2014 | Forbes/by Ching Wu

CrowdFlower Wins Best-in-Show at Finovate by Audience Vote

October 8, 2014 | Blog/by Ching Wu

Lending Club Files for IPO; Startup Emerged During Credit Crisis

Lending Club Corp. on Wednesday filed for an initial public offering, a deal that’s likely to be closely watched as online nonbank lenders continue to gain market share from traditional banks.

The number of shares and price range is yet to be determined, the San Francisco company said in a filing with the Securities and Exchange Commission. Lending Club was valued at nearly $4 billion in a fundraising earlier this year but could seek a higher valuation in the IPO, people familiar with the matter said in June.
August 28, 2014 | The Wall Street Journal/by Ching Wu

Socrata Raises $18M For Platform To Open Government Data

Socrata has raised $18 million to further the extension of its opendata platform now used at all levels of government to present information for the general public. The Series B round of financing was led by OpenView Venture  Partners, with participation from existing investors Morgenthaler Ventures and Frazier Technology Partners.
June 26, 2013 | TechCrunch/by admin

NexTag Sells Stake to Private Equity

June 9, 2007 | The Wall Street Journal/by Ching Wu