Alphabet's stake in the 2019 IPO boom tops $5 billion thanks to CrowdStrike.
"Google Capital, like us, believes that the only path forward to solving the current and future security challenges will be driven from the cloud," CrowdStrike CEO George Kurtz wrote in aSource: Nasdaq, Alphabet said its total portfolio of non-marketable equity securities — which includes investments made by the earlier-stage GV group — is worth $12.95 billion, including unrealized gains of $4.6 billion.
From a pure cash perspective, Uber remains the company's most lucrative bet. The $258 million investment is currently worth $3 billion. But the percentage return on CrowdStrike is similar and, depending on how the stock trades from here, could end up being even higher. Like other CrowdStrike insiders, CapitalG is prohibited from selling shares for 180 days.
Uber is trading below its IPO price from last month and is burning cash as it tries to fend off Lyft. CapitalG's $500 million investment in Lyft from 2017 is now worth $749 million — a relatively small gain. CrowdStrike is also losing money, but a lot less of it. In the quarter ended January, its net loss narrowed to $31.3 million from $37.5 million, while revenue climbed 44% to $80.5 million. Losses at Uber and Lyft are widening.
CapitalG could make a nice profit from Airbnb as well, though it will be hard to reach as big of a percentage return because the investment came at a
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