Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

27

Portfolio Exits

4

About Jack Dorsey

Jack Dorsey is an angel investor and entrepreneur, most notable for creating Twitter. He also co-founded Square, a platform to accept credit and debit cards on a mobile device.

Jack Dorsey Headquarter Location

San Francisco, California,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Jack Dorsey News

'Enormously risky': How NFTs lost their lustre

May 24, 2022

Dorsey managed to sell the NFT for almost US$3mil (RM13.2mil) last year but the new owner cannot find anyone willing to pay more than US$20,000 (RM87,780). — AFP Relaxnews A slew of celebrity endorsements helped inflate a multi-billion dollar bubble around digital tokens over the past year, but cryptocurrencies are crashing and some fear NFTs could be next. NFTs are tokens linked to digital images, "collectable" items, avatars in games or property and objects in the burgeoning virtual world of the metaverse. The likes of Paris Hilton, Gwyneth Paltrow and Serena Williams have boasted about owning NFTs and many under-30s have been enticed to gamble for the chance of making a quick profit. But the whole sector is suffering a rout at the moment with all the major cryptocurrencies slumping in value, and the signs for NFTs are mixed at best. The number of NFTs traded in the first quarter of this year slumped by almost 50% compared to the previous quarter, according to analysis firm Non-Fungible. They reckoned the market was digesting the vast amount of NFTs created last year, with the resale market just getting off the ground. Monitoring firm CryptoSlam reported a dramatic tail-off in May, with just US$31mil (RM136mil) spent on art and collectibles in the week to May 15, the lowest figure all year. A symbol of the struggle is the forlorn attempt to re-sell an NFT of Twitter founder Jack Dorsey's first tweet. Dorsey managed to sell the NFT for almost US$3mil (RM13.2mil) last year but the new owner cannot find anyone willing to pay more than US$20,000 (RM87,780). The year of scams Molly White, a prominent critic of the crypto sphere, told AFP there were many possible reasons for the downturn. "It could be a general decrease in hype, it could be fear of scams after so many high-profile ones, or it could be people tightening their belts," she said. The reputation of the industry has been hammered for much of the year. The main exchange, OpenSea, admitted in January that more than 80% of the NFTs created with its free tool were fraudulent - many of them copies of other NFTs or famous artworks reproduced without permission. "There's a bit of everything on OpenSea," said Olivier Lerner, co-author of the book NFT Mine d'Or (NFT Gold Mine). "It's a huge site and it's not curated, so you really have no idea what you're buying." LooksRare, an NFT exchange that overtook OpenSea for volume of sales this year, got into similar problems as its rival. As many as 95%of the transactions on its platform were found to be fake, according to CryptoSlam. Users were selling NFTs to themselves because LooksRare was offering tokens with every transaction - no matter what you were buying. And the amounts lost to scams this year have been eye-watering. The owners of Axie Infinity, a game played by millions in the Philippines and elsewhere and a key driver of the NFT market, managed to lose more than US$500mil (RM2.2bil) in a single swindle. 'Like the lottery' "As soon as you have a new technology, you immediately have fraudsters circling," lawyer Eric Barbry told AFP. He pointed out that the NFT market had no dedicated regulation so law enforcement agencies are left to cobble together a response using existing frameworks. Molly White said strong regulation could help eliminate the extreme speculation but that could, in turn, rob NFTs of their major appeal - that they can bring quick profits. "I think less hype would be a good thing - in its current form, NFT trading is enormously risky and probably unwise for the average person," she said. NFTs are often likened to the traditional art market because they have no inherent utility and their prices fluctuated wildly depending on trends and hype. But Olivier Lerner suggested a different comparison. "It's like the lottery," he said of those seeking big profits from NFTs. "You play, but you never win." – AFP Relaxnews Article type: metered

Jack Dorsey Investments

27 Investments

Jack Dorsey has made 27 investments. Their latest investment was in Peek as part of their Series C on November 11, 2021.

CBI Logo

Jack Dorsey Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/23/2021

Series C

Peek

$80M

No

9

10/21/2021

Seed VC

MOLTEN

$7M

Yes

10

10/20/2021

Series A

Open

$9M

Yes

10

1/21/2020

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

10/30/2019

Seed VC - III

Subscribe to see more

$99M

Subscribe to see more

10

Date

11/23/2021

10/21/2021

10/20/2021

1/21/2020

10/30/2019

Round

Series C

Seed VC

Series A

Seed VC

Seed VC - III

Company

Peek

MOLTEN

Open

Subscribe to see more

Subscribe to see more

Amount

$80M

$7M

$9M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

9

10

10

10

10

Jack Dorsey Portfolio Exits

4 Portfolio Exits

Jack Dorsey has 4 portfolio exits. Their latest portfolio exit was FiftyThree on August 21, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/21/2018

Acquired

1

3/8/2017

Acquired

Subscribe to see more

Subscribe to see more

10

1/10/2017

Acquired

Subscribe to see more

Subscribe to see more

10

9/8/2012

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

8/21/2018

3/8/2017

1/10/2017

9/8/2012

Exit

Acquired

Acquired

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

10

10

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.