In the 1990s, Howard Schultz built Starbucks into one of the world’s most iconic consumer businesses. In 1998, after taking Starbucks public, Dan Levitan and Howard founded Maveron. They recognized that digital technologies would integrate into people’s lives in unprecedented ways and that great teams attacking consumer-focused problems would require a rigorous understanding of human behavior. This thesis guided their investment in eBay, Maveron’s first portfolio company. For over 25 years, the goal of partnering with non-normal entrepreneurs on their journeys of building consumer businesses from obscurity to ubiquity has remained Maveron’s north star and has served as a guidepost through various technological, economic, and cultural epochs.
This vision is even branded into the name “Maveron,” which originates from the union of “maverick” and “vision.” Samuel Augustus Maverick was a 19th-century pioneer in old Texas. After winning 300 head of cattle in a poker game, he defied prairie tradition and, driven by his humanity, refused to brand his cattle. It was a bold move, and it required visionary action. The result: every steer without a brand was called a “maverick,” and the word entered the lexicon. The team at Maveron prizes the ability to look beyond convention and work with founders who are building the leading businesses of the future. Maveron seeks entrepreneurs with passion, curiosity, rigor, courage, and integrity—the ones who build brands that enchant, evangelize, and empower society.
Over 25 years later, Maveron continues to specialize in consumer-focused investments. The firm invests under the premise that value creation is derived from identifying where consumer behavior is changing, especially before it becomes obvious. As a result, Maveron relentlessly studies how people live, work, learn, play, eat, and stay well. Maveron also studies how technology and consumer centricity are disrupting archaic industries such as real estate, health care, finance, education, food, and energy. Maveron hopes to partner with companies that change culture and create a cauldron of consumer passion.
In June 2021, Maveron celebrated its 23rd anniversary and proudly announced its B Corp certification, joining an ever-growing list (including their portfolio companies Allbirds, Lovevery, and Nécessaire). B Corps are for-profit companies that use the power of business to build a more inclusive and sustainable economy. Maveron partners with founders who obsess over improving the lives of consumers every single day. By extension, a significant portion of Maveron’s LP base is comprised of children’s hospitals, foundations, universities, and philanthropic families who share the mission to make the world a better place. When Maveron does well for founders and limited partners, the world does too.
The makeup of a consumer business has drastically changed from the 90s until now, but the core remains the same: companies that integrate into people’s lives and make the world a better place. Maveron believes brands need to stand for something more than just growth at all costs. Maveron’s 25-year journey is a testament to the enduring spirit of their community and their collective courage to stand for the values they hold dear: to be Unapologetically Non-Normal, to prioritize Relationships Over Transactions, to promote Profit + Purpose, and to Win The Right Way.
