John Doerr praises Zynga and NextDoor...
Adam Rifkin stashed this in Kleiner Perkins
John Doerr on their Zynga Investment: “We Own 60M Shares, So I Want That Stock Back Above $10 … Where God Intended It.”
I wonder what about Zynga makes him so confident.
“Don’t you think there ought to be a safe, trusted place you can go to connect with your friends to play games?” Doerr continued. He then elaborated on his stance saying, “we think Zynga ought to be” the one to do it and that this is the core belief and motivation behind Kleiner’s investment and Doerr’s continuing optimism. The company “missed a beat moving from Facebook to mobile,” Doerr admitted, before concluding on a positive note: “But the team is on it.”
John Doerr thinks Zynga can be a trusted brand. Wow.
John Doerr was confident about Fisker, too.
In spite of amassing a legendary portfolio over the years, some of his high-profile and seemingly promising investments haven’t performed as well as Doerr (and many others) expected, Zynga and Fisker Automotive chief among them. When asked why, Doerr said that, at least in the case of Fisker, “execution was a key” reason for its comparative lack of success.
“We invested in Fisker because we believed in the electrification of transportation,” Doerr said, but Fisker is now on the edge of bankruptcy because “Tesla out-executed them brilliantly,” turning itself into a $14 billion company in the process. So, while Fisker itself hasn’t turned out to be a massive success, Doerr chose to look on the bright side, saying that even so, the firm’s investment thesis (in the evolution and rise of electric vehicles in transportation) “has been proven out.”
John Doerr went out of his way to praise NextDoor:
Doerr went out of his way to praiseNextdoor — the company that lets anyone and everyone create private social networks with people living in their local neighborhoods — saying that he was “particularly enamored” with the startup. Although he’s not an investor, the company stood out, he said, as one of the more promising ideas to represent the convergence of social, local and mobile.
That's mighty neighborly of him.