Maveron Edit

Best Wishes,

Maveron Family & Friends,

This year has been a constant practice of

gratitude - gratitude for health, gratitude for our

frontline workers, and immense gratitude for

the people (and technology!) that made us feel

connected despite being physically so far apart.

As 2020 has changed every facet of our lives,

we decided to shift the focus of our year-end

reflection. Rather than gifting ideas, we are

instead sharing our predictions, our values, and

the little things that got us through 2020.

From the bottom of our hearts, we wish you, and

your families, a very happy holiday season!

A NOTE FROM THE TEAM

Our Team

P A G E 0 3

The surge in screen time is fueled by a yearning for connectedness

2020 has been a relentless year of change. Our routines were

uprooted, our sense of security was disrupted, and a cloud of

uncertainty hung throughout the year.

As investors we wanted to see past the fog and wrestle with

the questions of what behaviors are short term reactionary to

COVID, which behaviors are longer lasting and where are there

pockets of opportunity. Here are a few of our predictions...

CONSUMER PREDICTIONS

01COVID massively accelerated

e-commerce adoption by bringing in

new shoppers and sellers that are

here to stay.

02Telehealth experienced a paradigm

shift in 2020. Favorable regulation

and increased familiarity with the

modality present a radically new way

we will receive care.

03The surge in screen time is fueled

by a yearning for connectedness -

gaming, social, and entertainment

platforms are all vying to be that third

space where youth connect through

shared experiences.

04The country is more divided than

ever - from wealth to ideology - and

people are finding their divisions and

tribes online. We see opportunities

for brands to stand for those tribes,

to build platforms that can host them,

and to harness the good that digital

tribes can offer.

P A G E 0 5

FebuaryMaveron co-leads the Series A in The Landing, founded by former Shipt founder Bill Smith

AprilAnarghya Vardhana welcomes a daughter, Dhimahee, to her family

MayImperfect Foods raises $72M in Series C to expand their growth

Nécessarie debuts their all natural, clean, toxic free deodorant

SeptemberAllbirds raises $100M from Franklin Templeton

Maveron leads a Series A in a plant based chicken company - Daring

Modern Fertility's pregnancy and ovulation tests became available in 1,600 Walmart locations

BookClub, a Maveron led Series A investment, launches so readers can chat with their favorite authors

Thirty Madison raises a $47M Series B

JuneJohn Legend performs a live, immersive, virtual concert on Wave. Wave was the first Series A investment Maveron led in January 2020

JulyMaveron engages a social impact consultancy, Community Action Partners to advance equity and inclusion within the firm and portfolio

AugustCourse Hero $80 million Series B round is one of the largest U.S. funding deals of 2020, and brings Course Hero’s valuation to $1.1B

Maveron joins 9 other venture firms to increase diversity on cap tables

OctoberDirect-to-consumer hearing aid manufacturer, Eargo, goes public!

Pacaso, Series A investment led by Maveron, launches a new ownership model to buy second homes

DecemberLovevery launches its first ever home good collection

Pete McCormick adopts a puppy!

As Americans rush to adopt pets, Trupanion, hits $4B market cap. Maveron led the Series A fourteen years ago, long believers in pet insurance space!

YEAR IN A GLANCE

P A G E 0 7

Born to a family of engineers, Jerry grew

up perpetually curious about the world.

With the Lego set his parents bought

him for his fifth birthday, he became

fascinated with using the little bricks

to build whatever came to mind. This

fascination would later influence him

to follow his parents’ path becoming

an engineer. After graduating with a BS

and MS from UC Berkeley, he started

his career in consumer tech and then

spent several years in media, both as

an operator and investor.

Prior to Maveron, Jerry was at Advancit

Capital, a media-focused investment

fund investing in tech-enabled,

consumer, and next-generation media

companies. In addition to completing

his MBA at Wharton, Jerry spent his

time before becoming an investor as an

operator, leading operations at Spate

(a YC-backed startup using data to

predict the next big consumer trends).

He built his career as a data scientist at

Google, where he helped to launch and

grow YouTube’s first paid subscription

businesses (YouTube Red, YouTube

Music, YouTube TV).

Every Christmas, Jerry goes back to

Taiwan to spend time with his family.

And since his grandfather's birthday

also happens to be the day after

Christmas, the holidays become the

one time of the year for which his

extended family all fly back to celebrate

and spend time with each other.

Jerry Lu

NEW FACES

Veronica Reaves

Imagine growing up with kids of all ages in

every room of your home for twenty-four

hours a day. Veronica did, and as a result

she is great at building relationships

and solving problems. She took her

talent to Deloitte Consulting where she

launched an initiative to help support

social entrepreneurs in solving their

organization’s most challenging problems.

Her passion for helping entrepreneurs

succeed led her to move to the island

of Mauritius to help launch the edtech

startup African Leadership University,

named one of Africa’s most innovative

companies by Fast Company in 2016.

Originally from Seattle, Veronica has a

keen nose and taste for a great cup of

coffee and loves being outside. She is an

avid traveler who has flown around the

world twice. When she is not traveling or

working with founders, she is spending

time with family and loved ones.

When in Seattle for Christmas, the family

tradition is to spend the day at her Aunt

Sandra’s house with the rest of her

large extended family. Veronica’s family

matriarch is her grandmother, Mary

Taylor, who turns 92 this year. Mary has

six daughters who all live in the Seattle

area with their families. Needless to

say, every Christmas at Aunt Sandra’s is

packed with many family members and

everyone looks forward to the family

karaoke battle after dinner. This year’s

battle will have to go digital with families

competing over Zoom!

P A G E 0 9

American consciousness has the power to accelerate social

justice and to help repair the world. Rather than just sitting

by the sidelines, Maveron chose to take action! This year the

Maveron team selected to donate $8,000 each to four key

organizations fighting for social justice in unique and equally

important ways. The Equal Justice Initiative, World Central

Kitchen, The Hidden Genius Project, and Youth Care Seattle.

These organizations are focused on criminal justice reform,

youth education and shelter, and food insecurity. We hope

that as you round the year out you also take some time to

reflect and give to organizations you cherish and who are

helping to make a difference.

This year has been a year of great

triumph, great loss, and great

reckoning. How we live, work, eat,

play, learn, and even mourn was

quickly redefined and transformed

by none other than nature itself.

Non-normalcy is a trait we often

seek in our founders, and yet, we

are all enduring a non-normal life

experience that has impacted each

of our lives in both similar and

different ways. So, what did we

learn? 2020 has forced each of us

to think critically about what

matters most in our lives. This year

has also gifted us with an enhanced

ability to empathize and listen to

the experience of those who may

not share our same background,

race, ethnicity, and or privileges.

As the Maveron team reflected on

these lessons, we also shared a

great sense of hope for what the

future could be. We believe that

the collective awakening of the

GIVING TUESDAY

P A G E 1 1

BOOK AND RECIPERECOMMENDATIONS

P A G E 1 3

Just Mercy Bryan Stevenson

A powerful true story about the potential for mercy to redeem us, and a clarion call to fix our broken system of justice—from one of the most brilliant and influential lawyers of our time.

No Rules Rules: Netflix and the Culture of ReinventionReed Hastings

Greenlights Matthew

McConaughey

Transcendent Kingdom Yaa Gyasi

Caste: The Origins of Our Discontents Isabel Wilkerson

Becoming Michelle Obama

Educated Tara Westover

LEARN MORE

P A G E 1 5

HomegoingYaa Gyasi

Homegoing follows the parallel paths of sisters and their descendants through eight generations. Yaa Gyasi’s extraordinary novel illuminates slavery’s troubled legacy both for those who were taken and those who stayed—and shows how the memory of captivity has been inscribed on the soul of our nation.

The Biggest BluffMaria Konnikova

Dignity: Seeking Respect in Back Row AmericaChris Arnade

Younger Next Year Chris Crowley and

Henry Lodge

LEARN MORE

P A G E 1 7

Hot Toddy

INGREDIENTS1 cup water

1 tea bag

1 tbsp honey

1 1/2 oz whiskey, brandy, or rum

1 tbsp freshly squeezed lemon juice

OPTIONAL GARNISHES Lemon wedge

Cinnamon sticks

DIRECTIONSSteep the tea bag in freshly boiled water

for 10-minutes (Yogi Throat Comfort is

my favorite—subtly spiced and perfect

for winter). Make sure to cover the cup!

Once steeped, mix in the honey.

Then add the freshly squeezed lemon

and pour the liquor of choice (whiskey is

my favorite for this recipe).

Stir well and drink!

P A G E 1 9

VIEW RECIPE VIEW RECIPE

VIEW RECIPE VIEW RECIPE

Apple Tart Ina Garten

Ribollita Fall SoupGiada De Laurentiis

Vegetarian Mexican Casserole Jolinda Hackett

Crockpot White Chicken ChiliErin Clarke

Bake Ina Garten's French Apple Tart

recipe from Barefoot Contessa on Food

Network with Granny Smith apples atop

buttery, homemade pastry dough.

Ribollita is a traditional centuries-old

Tuscan soup that is made from reboiling

vegetable soup the next day with the

addition of bread.

This lacto-vegetarian Mexican-inspired

casserole recipe is a one dish vegetarian

casserole perfect for busy nights and

the entire family.

This recipie is prized for its easy prep,

creamy texture, and healthy ingredients.

It also allows you to work on something

else while it cooks!

P A G E 2 1

More time in nature! Hiking, fishing

gardening, biking, exploring

Connect with extended family

digitally and dress up from time

to time

Start a regular virtual game night

with old friends

Clean out/organize your closets

Take walks around the city.

Rediscover San Francisco's beauty

with less people around

Walk the Brooklyn Bridge and

explore new parts of Williamsburg

Walk to Pikes Place, and enjoy

Seattle's landmarks without

the crowds

Go on walks every day (with or

without the family dog), workout

a ton - weights, jump rope and

Peloton for the win!

Add a stretching evening routine -

as soon as you finish work fire up a

25-30 minute stretching video. Your

joints and muscles will thank you!

Walk to your local coffee shop to

get out of the house

Binge on the Crown, After Life,

Ozark and Stranger Things

Basketball with the kids, or try

setting up aquariums for them

Stay calm - recognizing this too

shall eventually pass

QUARANTINE ACTIVITIES

P A G E 2 3

From Tina Turner to Drake, there's something for everyone.Check out the Maveron Mood playlist on Spotify.

Bye Bye BabyBay City Rollers

'Till I CollapseEminem,

Nate Dogg

Say Something (feat. Chris Stapleton)Justin Timberlake

Peace Train10,000 Maniacs

Up all NightDrake,

Nicki Minaj

Wind of ChangeScorpions

CHECK OUT THE FULL PLAYLIST

MAVERON MOOD PLAYLIST

P A G E 2 5

We wish you health and happiness as we head into 2021!

THANK YOU -OUR FRIENDS, FOUNDERS, INVESTORS AND COMMUNITY.