Around the house: new GCs for Luminar and UBS
30 April 2021
Around the house: new GCs for Luminar and UBS
In-house moves round-up also sees Fremantle acquire an Uber heavyweight and an O2 veteran leave ahead of its mega merger with Virgin Media
From Tesla to lidar unicorn Elon Musk’s scepticism about lidar sensors for autonomous vehicles hasn’t stopped his acting GC Alan Prescott from joining Luminar Technologies in Palo Alto. Prescott has become chief legal officer at the Peter Thiel-backed lidar sensor and software unicorn, which went public last December through a SPAC merger. His stint at Tesla lasted just under four years, serving initially as deputy GC and director of regulatory affairs before becoming acting general counsel and corporate secretary.
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Divesh Makan has spent a decade building ultra-secretive wealth-management firm Iconiq Capital.
It caters to the elite of the technology industry and is now quietly recruiting A-list celebrities.
Iconiq has invested billions of dollars in top startups, documents obtained by Insider show.
Sequoia Capital’s Investments in Airbnb and DoorDash Pay Off
Sequoia Capital invested $385 million in Airbnb (ABNB) and DoorDash (DASH) in multiple rounds over the years. The venture-capital firm was one of Airbnb’s earliest backers, first investing in its seed round in 2009.
After Airbnb’s and Doordash’s enormous initial public offerings last week, that initial investment has turned into more than $20 billion.
It has been a great year overall for the venture-capital industry, especially the Silicon Valley-focused firms. Airbnb and DoorDash are particular standouts, but there have been dozens of highly valued technology IPOs in 2020.
Special Purpose Acquisition Companies Raise $77 Billion in IPOs in 2020