Moritz Leaving Google

Google has announced that Michael Moritz is leaving Google´s Board. Moritz and John Doerr joined the board in May 1999 when Sequoia Capital alongwith Kleiner Perkins invested in the Company.

 Sequoia and Kleiner Perkins each invested $12.5M in Google for a 10% stake. The resulting stocks were worth $2.03BN in 2004 at Google´s IPO price of $85/share. While the funds originally intended to offload all of their investments in the IPO but refrained from it due to investor clashes over valuations. Which offcourse turned out to be a good thing as the Google stock sky rocketed after the IPO. For a more thorough take on this, see Burnham Beat.

Moritz has two of Internet era´s biggest VC Grand Slams under his belt in Yahoo and Google. He left Yahoo board a few years back when it became evident that Google is eating Yahoo´s lunch.  Valleywag is reporting that one reason of his resignation is a conflict of interest due to his investment in a search startup.

Moritz has a habbit of staying in bed with the more interesting and upcoming company. Lets see what he´s upto this time.

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