Angel Investors Network - March 2020

MARCH 2020

NEWS

4 WOMEN WHO HELPED LEAD THEIR COMPANIES TO IPOS AND BEYOND Women in Leadership

Sheryl Sandberg, COO of Facebook

Women make history every day. March is National Women’s History Month, and while we can look back at many of the women who have made a major impact in business and entrepreneurship, this month, we want to recognize women who are making waves today. Over the last decade, a record number of women have established companies, grown them, launched initial public offerings (IPO), and invested heavily back into their companies and new companies. One major player is Sheryl Sandberg. She is the chief operating officer at Facebook (Nasdaq: FB). She was with the company when it launched its IPO in 2012. When Facebook went public, Sandberg sold over half of her 41 million shares in the company. After several rounds of sales, she had 17.2 million shares, for about 0.5% stake in Facebook, valued at $1 billion. Following the IPO, Sandberg had the resources to launch the Lean In Foundation (LeanIn.org). She also wrote the accompanying book “Lean In: Women, Work, and the Will to Lead.” Lean In is an organization with a mission to “help women achieve their ambitions and work to create an equal world.” Katrina Lake is the founder and CEO of Stitch Fix (Nasdaq: SFIX). She founded the personalized online clothing company in 2011 and took it public in 2017. Following the IPO, Lake had a 16.6% stake in Stitch Fix, and Stitch Fix itself was valued at $1.6 billion. Within a year of the IPO, it was valued at $2.8 billion. Lake is also considered one of the richest self-made women in the U.S. as a result of the outstanding success of her company. She credits

much of her success to her “efficiency with finances” and getting the absolute most out of venture capital.

Sheila Marcelo is the founder and outgoing CEO of Care.com (Nasdaq: CRCM). Care.com was launched in 2007 and went public in 2014. Up through the offering, Marcelo had been highly successful in raising venture capital for Care.com, pulling in more than $111 million, including a major investment by Reid Hoffman, founder of LinkedIn. In December 2019, Care.com was bought by IAC, a U.S.-based holding company, which also owns brands like Match. com, Investopedia, HomeAdvisor, Angie’s List, and more. IAC paid a 13.2% premium over Care.com’s closing share price when the deal went through. Marcelo also plays an active role with the Philippine Development Foundation, an organization dedicated to eliminating poverty in the Philippines. Lynn Jurich has become a force in solar energy, competing with the likes of SolarCity (which is owned by Tesla, Inc.). Jurich is the co-founder and CEO of Sunrun (Nasdaq: RUN), a residential solar installation, financing, and leasing firm. Founded in 2007, Sunrun went public in 2015. In 2014, in the months leading up to the IPO, Sunrun raised $150 million in venture capital. Jurich is also an angel investor and has given seed funding to numerous companies. She has also invested in Tetcha, a skin care company founded by her husband, Brad Murray. She’s also invested in Safi Analytics, another notable woman-led company.

Katrina Lake, founder and CEO of StitchFix

Sheila Marcelo, founder and outgoing CEO of Care.com

Lynn Jurich, co-founder and CEO of Sunrun

–Jeff Barnes

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