GSV Capital Corp. Provides an Update on Portfolio Company Developments for the Period Since March 31, 2016
12 Juli 2016 - 3:25PM
GSV Capital Corp. (“GSV Capital” or the “Company”)
(Nasdaq:GSVC) today provided an update, for the period since March
31, 2016, on a selection of the private companies in its investment
portfolio.
As previously reported, GSV Capital’s net assets
totaled $243.1 million, or $10.96 per share, as of March 31,
2016.
Social Mobile
- Lytro, Inc.: In April, light-field-imaging company Lytro
debuted Lytro Cinema at the National Association of Broadcasters
tradeshow. Lytro Cinema captures light-field information about the
angle and direction of every light in frame. This revolutionary
product allows cinematographers to modify a video’s focus and depth
of field after it has been shot, allowing for significant creative
freedom, production efficiencies and cost savings. Lytro Cinema’s
initial production can be viewed at www.lytro.com.
- Snapchat, Inc.: Snapchat, the communication and entertainment
platform, closed its most recent funding round of $1.8 billion in
May, as disclosed in its SEC regulatory filings, and in which GSV
Capital participated. According to Bloomberg Technology, Snapchat
passed 150 million daily active users. Additional milestones
achieved include launching a significant expansion of its
advertising offerings, such as Snapchat Partners, an advertising
application programming interface (API) that will expand
advertising on Snapchat’s platform and allows Snapchat ads to be
sold by third parties for the first time. Snapchat also introduced
Memories, a new way to save and share a personal collection of
Snaps and Stories. Other investors to date include Sequoia Capital,
IVP, Fidelity, Coatue Management, General Atlantic and
more.
- Spotify Technology S.A.: Spotify is a disruptive
music-streaming platform with over 100 million users and 30 million
paying subscribers. In 2015, CEO Daniel Ek revealed that more than
50% of Spotifiers are under the age of 27. Remarkably, given the
young demographic, 70% of Spotify’s initial 2010 subscribers are
still paying customers.
Education Technology
- Coursera, Inc.: Coursera, the leading provider of massive open
online courses (“MOOC”) for over 18 million learners, has partnered
with the University of Illinois at Urbana-Champaign to offer a new
Master of Computer Science in Data Science program. The university
also offers an iMBA program through Coursera, with tuition of under
$22,000. In April, Coursera partnered with IBM to develop online
courses for developers on how to create applications for the
Internet of Things.
- General Assembly, Inc.: General Assembly, the next-generation
global education company, is partnering with Tableau to develop a
full-time data science course called Data Science Immersive.
Curriculum topics include statistics, data modeling, programming,
data visualization, exploration and analysis. General Assembly’s
full-time graduates have a job placement rate of 99% in entry- and
mid-level jobs.
Cloud and Big Data
- Dataminr, Inc.: Dataminr, the leading real-time,
information-discovery analytics company that uses machine learning
and cross-references Twitter to identify patterns and trends
globally, was recently prohibited by Twitter from sharing its data
with the U.S. intelligence community for surveillance purposes, as
reported by the Wall Street Journal in May. Dataminr sells its
services to financial institutions, global corporations, government
agencies, and news/media outlets, and these services remain
unaffected by Twitter’s actions.
- Dropbox, Inc.: Dropbox, the cloud-based, file-collaboration
technology company, announced that it is cash-flow positive. The
company added new sharing features for mobile and desktop users, as
well as a document scanner for the iOS application that uses
optical character recognition to identify and remember printed
text. To date, Dropbox has over 500 million users and over 150,000
enterprise customers.
- Palantir Technologies, Inc.: Palantir is a data-analytics
platform used by law enforcement agencies, financial services
firms, and healthcare industries. As reported by the U.S.
Department of Defense, Palantir was awarded a $222 million
firm-fixed-price contract for All Source Information Fusion
software licenses and the associated support services in support of
U.S. Special Operations Command, Special Operation Forces
Acquisition, Technology and Logistics.
Sustainability
- Beamreach Solar (f/k/a Solexel, Inc.): Previously known as
Solexel, Beamreach Solar announced the launch of the Sprint
crystalline silicon solar panels, which enables installation to be
completed approximately five times faster than conventional panels
and racking systems. This expands the commercial solar market for
installers, developers and roofers. Mark Kerstens was named the new
CEO, and former CEO Michael Wingert transitioned to Chairman of the
Board.
Marketplaces
- GSVlabs (f/k/a nestGSV, Inc.): GSVlabs is a global innovation
platform based in the heart of Silicon Valley that accelerates
startups and connects corporations to exponential technologies,
business models and entrepreneurs. It is home to over 170 startups
which raised over $200 million in 2015. As the access point to a
startup ecosystem, major corporations such as IBM, JetBlue, 3M, The
Times of India, Intel, and AT&T partner with GSVlabs to launch
new initiatives, identify talent, and propel new business models.
GSVlabs creates value through this virtuous circle, capturing
equity in select game-changing startups while providing high-value
innovation services to entrepreneurs and corporations.
- Lyft, Inc.: Lyft, the San Francisco-based ridesharing startup,
announced developments in its partnership with General Motors to
begin testing a fleet of self-driving Chevrolet Bolt electric taxis
on public roads within the next year. General Motors invested $500
million in Lyft in January. Another notable addition to Lyft’s
platform includes Lyft’s Mobility Solutions, which provides
improved riding experiences and options to organizations and
companies through business profiles, scheduled rides, automatic
expensing, and a concierge service. Lyft also launched Lyft
Premier, which will allow users to access highly rated drivers with
luxury, high-end vehicles.
- PayNearMe, Inc.: PayNearMe, an electronic cash-based payments
platform, acquired Prism Money, a financial management application
that enables the company to offer businesses and financial
institutions in-app bill presentment and payments via the Automated
Clearing House or card. Visa will offer PayNearMe’s new suite of
customizable bill capabilities to its enterprise customers. As of
June, businesses and government agency partners can collect cash
payments through PayNearMe’s platform at nearly 17,000
participating 7-Eleven, Family Dollar and ACE Cash Express stores
nationwide.
About GSV Capital
Corp.
GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment
fund that seeks to invest in high-growth, venture-backed private
companies. Led by industry veteran Michael Moe, the fund seeks to
create a portfolio of high-growth emerging private companies via a
repeatable and disciplined investment approach, as well as to
provide investors with access to such companies through its
publicly traded common stock. GSV Capital is headquartered in
Woodside, CA. www.gsvcap.com
Follow GSV Capital on Twitter: @gsvcap
The GSV Capital Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=12750
Forward-Looking Statements
Statements included herein may constitute
“forward-looking statements,” which relate to future events or our
future performance or financial condition. These statements are not
guarantees of our future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in our filings with the SEC. GSV Capital Corp. undertakes
no duty to update any forward-looking statements made herein,
unless required to do so by law.
Contact
GSV Capital Corp.
(650) 235-4769
IR@gsvam.com
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