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Although female-founded companies represent a greater percentage of First Round’s investments than the national average — startups with at least one female cofounder account for approximately 18% of new VC-backed new ventures in the U.S. — they were still the minority of investments.
In 2014 a graduate student at Stanford named Etosha Cave and two colleagues began their entrepreneurial journey. The problem that Etosha and her cofounders ran into when they first sought to leverage the Silicon Valley ecosystem to get their business off the ground was that venture investors typically want to see a real product.
But is all of that changing? Indeed, the pattern of scaling seems to be changing meaningfully in recent years. In 2014, for example, 18 IPOs raised a record-breaking $9.8 Although the technical team often remains in Israel, many of the executives interviewed recommend departing for the U.S. billion, compared to just $1.2
For instance, in 2014 only 10% of Yelp’s engineers were female. These figures were similar at other tech companies, most of which had fewer than 20% of their technical positions filled by women and had low representation of black and Hispanic employees. Leaders at Yelp wanted things to change for two main reasons.
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