In this article, we discuss the 5 companies to watch in the latest investment portfolio of Naval Ravikant. If you want to read about some more stocks in the Ravikant portfolio, go directly to Naval Ravikant’s Latest Investment Portfolio: 10 Companies to Watch.
5. Poshmark
Poshmark operates as a social commerce marketplace where users across the world can buy and sell new or used clothing, shoes, and accessories. The company is headquartered in California. Some of the prominent investors in the firm include Rachel Zoe, Ashton Kutcher, Naval Ravikant, and Shervin Pishevar, among others. Ravikant invested in the company in early 2015. The firm was founded in 2011 and launched an Android app in 2013. The platform has more than 80 million users.
Poshmark debuted on the market in early 2021 under the Poshmark, Inc. (NASDAQ:POSH) ticker. It has a market cap of around $982 million. At the end of the fourth quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $83 million in Poshmark, Inc. (NASDAQ:POSH), compared to 18 in the preceding quarter worth $40 million. Chicago-based Citadel Investment Group is a leading shareholder in the company with 1.1 million shares worth over $18.7 million.
In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Poshmark, Inc. (NASDAQ:POSH) was one of them. Here is what the fund said:
“We established seven new positions during the quarter, largely financed through trims in existing holdings whose market values have risen. Four of the additions (including Poshmark, Inc. (NASDAQ:POSH)) play roles in the accelerating digital transformation of the sales, marketing and customer development processes. Poshmark, Inc. (NASDAQ:POSH), in the consumer discretionary sector, is an e-commerce platform that replicates a physical shopping experience through a socially amplified platform.”
4. Udemy
Udemy operates as an open online course provider aimed at professional adults and students. The firm was founded in 2010. It is one of the most popular online course websites globally, evidenced by the 46 million students who use it to study around 175,000 courses. These courses are taught by almost 60,000 instructors that teach in more than 75 languages. Naval Ravikant had recognized the potential in Udemy early and was part of a seed funding round that raised $1 million for the firm in 2010.
Udemy went public in October 2021, raising $421 million in an initial offering that valued the firm at close to $4 billion. Since then, the shares have tanked amid a larger lull around growth offerings. However, hedge funds remain bullish on the stock for the long-term. At the end of the fourth quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $88 million in Udemy, Inc. (NASDAQ:UDMY). The firm recently launched courses in South Korea, expanding its global footprint.
3. Anchorage
Anchorage operates as a digital asset platform that offers custody, trading, and financing services. The company was founded in 2017 by Diogo Monica and Nathan McCauley. Ravikant invested in the firm in 2019. In late 2020, in a Series C funding round, the firm raised over $80 million. In December 2021, in a Series D round, it managed to raise over $350 million. The startup is now valued at over $3 billion. Anchorage lets users trade crypto assets in addition to offering a custody solution to big institutions.
Anchorage has gained prominence as a reliable crypto trader for big companies. For example, when payments giant Visa bought an NFT in August 2021 for around 50 Ethereum, the transaction was carried out by Anchorage. Some of the other prominent investors in the startup include Goldman Sachs, Alameda Research, Andreessen Horowitz, and others. In 2021, as NFTs and crypto assets exploded in popularity, Anchorage increased its client by an impressive 96%. The firm also has a federal banking charter.
2. Postmates
Postmates is an on-demand food delivery platform that gives customers access to restaurants and retailers. The firm was founded in 2011 by Bastian Lehmann, Sam Street, and Sean Plaice. Alongside Ravikant, other prominent investors in the company include BlackRock, Tiger Global, Founders Fund, Harmony Partners, and Spark Capital, among others. Postmates managed to raise over $763 million in a series of funding rounds till late 2019, valuing the company at around $2.4 billion.
In December 2020, ride-hailing firm Uber Technologies, Inc. (NYSE:UBER), one of the earlier investments of Ravikant, acquired Postmates for around $2.65 billion. Hedge funds hold large stakes in Uber Technologies, Inc. (NYSE:UBER). Among the hedge funds being tracked by Insider Monkey, Boston-based Altimeter Capital Management is a leading shareholder in Uber Technologies, Inc. (NYSE:UBER) with 1.5 million shares worth more than $482 million.
ClearBridge Investments, in its Q3 2021 investor letter, mentioned Uber Technologies, Inc. (NYSE:UBER). Here is what the fund has to say in its letter:
“We have also been looking for multiyear secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber Technologies, Inc. (NYSE:UBER) will also be a key player in the transition from internal combustion engines to EVs.”
1. Opendoor
Opendoor owns and runs a digital real estate platform. The firm was founded in 2014. Ravikant was one of the earliest investors in the business, contributing to a funding round that raised nearly $10 million for the company in July 2014. Other investors in the startup included Khosla Ventures VC and tech bigwigs from giants such as PayPal, Facebook, and YouTube. The founder of the firm, Eric Wu, has said that the platform makes the process of real estate transactions easier and smoother.
Opendoor debuted on the market in December 2020 after merging with SPAC Social Capital Hedosophia Holdings. The company had raised over $1.5 billion in funding before going public. Hedge funds have been loading up on the stock recently. At the end of the fourth quarter of 2021, 41 hedge funds in the database of Insider Monkey held stakes worth $1.5 billion in Opendoor Technologies Inc. (NASDAQ:OPEN), up from 35 the preceding quarter worth $1.7 billion.
In its Q4 2021 investor letter, Baron Fund, an asset management firm, highlighted a few stocks and Opendoor Technologies Inc. (NASDAQ:OPEN) was one of them. Here is what the fund said:
“The Fund invests in secular growth and innovative businesses across all market capitalizations, with the bulk of the portfolio landing in the large-cap zone. The Fund is categorized as US Large Growth by Morningstar. As of the end of the fourth quarter, the largest market cap holding in the Fund was $2.5 trillion and the smallest was $791 million. The median market cap of the Fund was $27.5 billion.
The Fund had $1.7 billion of assets under management. The Fund had investments in 63 securities. The Fund’s top 10 positions accounted for 45.4% of net assets. Fund inflows were positive for 2021.We sold Opendoor Technologies Inc. (NASDAQ:OPEN) because we identified issues relating to our long-term theses in the company, and we decided to exit the positions to fund other purchases.”
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