GSV Capital Corp. Provides an Update on Portfolio Company Developments for the Period Since June 30, 2016
27 September 2016 - 10:05PM
GSV Capital Corp. (“GSV Capital” or the “Company”)
(Nasdaq:GSVC) today provided an update, for the period since June
30, 2016, on a selection of the private companies in its investment
portfolio.
As previously reported, GSV Capital’s net assets totaled
approximately $226.8 million, or $10.22 per share, as of June 30,
2016.
Social / Mobile
- Snap Inc. (f/k/a Snapchat, Inc.): Previously known as Snapchat,
the social media company changed its name to “Snap Inc.” The
company will release its first hardware product, Spectacles, a pair
of video sunglasses with an integrated 115-degree-angle camera
lens. Snap is also acquiring mobile search startup Vurb for $110
million, as reported by The Information. Snap recently introduced
on-demand geofilters that allow users to create customized
geofilters without special knowledge of graphics software. The
company is advancing initiatives in sophisticated digital-ad
targeting with new products Snapchat Audience Match, Snapchat
Lifestyle Categories, and Lookalikes. According to Bloomberg
Technology, Snap has over 150 million daily active users as of June
2016. On any given day, the app reaches 41% of all 18- to
34-year-olds in the United States, while an average television
network in the top-15 for the same demographic reaches only
6%.
- Spotify Technology S.A.: Spotify is a disruptive
music-streaming platform with over 100 million users. In
mid-September, Spotify crossed 40 million paying subscribers, up
from 30 million paying subscribers in March 2016. Spotify has over
twice as many paying subscribers as competitor Apple Music, which
recently reported that it has 17 million paying users. Spotify
revealed a new original video series called Clarify, which
integrates music with politics to educate millennial voters on
various political topics by featuring in-depth, candid discussions
with journalists, experts, and musicians. Spotify’s Discover Weekly
playlists, which create personalized 30-song playlists for users,
continue to be highly successful with more than 5 billion tracks
streamed to date.
Education Technology
- Course Hero, Inc.: Course Hero, an online learning marketplace
for educational resources and expert tutors, released Course Hero
for Educators. Course Hero for Educators helps teachers collaborate
with other teachers to share class materials and lesson plans, save
time, and discover new ideas. Educators can access new materials by
uploading and sharing their own materials or purchasing a
subscription. Course Hero now counts over 60,000 educator accounts
and 10 million students on its platform.
- General Assembly, Inc.: General Assembly, the next-generation
global education company, announced that it is expanding into ten
new cities by the end of the year, its biggest expansion since the
company’s inception five years ago. With its recent acquisition of
the Canadian career accelerator, Bitmaker, General Assembly also
entered into Canada as a new international market, which builds
upon its current presence in the United States and
Australia.
- Knewton, Inc.: Knewton, a leading adaptive-learning company
that personalizes educational content, formed a partnership with
WebAssign. WebAssign is a leading provider of digital instructional
solutions for faculty and students. The partnership provides
WebAssign with analytics to enhance content and improve student
experiences. Knewton was founded in 2008 and has offices in New
York, London, Tokyo, Singapore, and Dubai.
Cloud and Big Data
- Dataminr, Inc.: Dataminr, a leading real-time,
information-discovery analytics company that uses machine learning
and cross-references Twitter to identify patterns and trends
globally, announced that France Info, a part of the Radio France
company, has become Dataminr’s first commercial client in
continental Europe. The delivery of the Dataminr for News product
will enable France Info to execute an aggressive digital growth
strategy of delivering relevant stories across a number of
platforms.
- Dropbox, Inc.: Dropbox, the cloud-based, file-collaboration
technology company, announced that it achieved another milestone:
attaining approximately 200,000 Dropbox Business customers and over
500 million users. As of mid-year 2016, Dropbox had 8 million
subscribers and is adding approximately 10 million new users per
month. In June, CEO Drew Houston revealed that the company is cash
flow positive. Dropbox serves a number of innovative businesses
such as News Corp. and Hewlett Packard, and continues to design new
productivity and collaboration features for team folders, called
the “AdminX” tools.
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 with conventional
panels and racking systems. Beamreach Solar featured a
demonstration of the Sprint module system at the 2016 Intersolar
North America event.
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. GSVlabs hosted the 2nd
annual Pioneer Summit in September 2016 and welcomed over 1,700
attendees. The Pioneer Summit focused on catalyzing exponential
ideas and creating a dynamic ecosystem for entrepreneurs,
investors, and change agents. The 2016 GSV Hall of Fame honored and
celebrated Carol Bartz, Ken Coleman, Gordy Davidson, and Andy Grove
(posthumously).
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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