In this segment of 40 OVER 40, I had the pleaser to interview Dan Levitan, Co-Founder and Partner at Maveron LLC, a leading venture capital firm based in Seattle, Washington.
Dan Levitan is an intelligent, tough (but fair) business man whom I have had the pleasure to get to know over the last couple of years. Originally from the East Coast, he calls the Pacific Northwest home. It is always a pleasure to get to know individuals who encourage you to do your very best, take your skills to the next level and understand the importance of top-notch customer care and service.
Thank you Dan for an opportunity to glance into your personal life and see what makes the man behind Maveron!
How did you earn your first dollar?
I earned my first pennies at a lemonade stand in Westhampton Beach. My first dollars were earned working the summers at Barneys New York. It was a fantastic job: eight weeks, 12 hour days throughout the summer. It was the place to be because I worked in the men’s department, but all the women from the Fashion Institute of Technology worked on the first floor! I would sell the suits and then visit the first floor!
What do you appreciate about being over 40?
The ability to learn from my kids. I have found that when you are over 40 you are in less of a hurry, more humble and content. You have a better understanding of your blind spots and more open to feedback.
What or who inspired you to get where you are today?
Three guys have inspired me:
Howard Schultz – he is why I am in Seattle. He taught me to dream big and to believe you can do what other people feel impossible.
Coach Mike Krzyzewski – I have had the privilege to get to know Coach K over the last eight to nine years. He has inspired me to never give up; failure is part of the road to success.
(BTW: I made the mistake of not knowing who Coach K was – I deeply apologize!!!)
The third individual is Bill Campbell – Chairman of Intuit. Bill has inspired me to realize that great coaches are self-less. Leadership is about checking your ego at the door.
What would you still like to achieve?
A ton! I am a work in progress. It is important for me to continue to build, nurture and improve my relationship with my children (each year is a new adventure), my marriage (ten years and going strong) and my business (Maveron is in its eleventh year).
What are you passionate about?
That’s easy, Duke Basketball. Go Blue Devils!
How do you balance work and life?
Compared to my life in New York I am balanced. It is important to learn to be present where ever you are. You are not balanced if you are looking at your Blackberry all the time. Lessons learned – remove BrickBreaker from your Blackberry!
What book is on your nightstand?
I just finished reading the book WHO: The A Method of Hiring by Geoff Smart and Randy Street – it talks about the “who” being more important than the “what.” You are who you hire.
What other career would you like to try?
Professional philanthropist.
What other person would you like to meet – living or dead?
Serious answer: Raoul Wallenberg, a famous Swedish World War II humanitarian who, in the last months of WWII, saved thousands of Jews in Budapest, Hungary. He is a very prominent figure in history.
Not so serious answer: Bernard (Bernie) Madoff!
What superpower do you want?
The ability to make my wife and daughters smile anytime!
Favorite movie?
Caddyshack
Guilty pleasure?
Pistachio nuts!
What is your favorite quote?
Character is the ability to follow through on a resolution long after the emotion with which it was made has passed. BrianTracy
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Biographical Information: Dan Levitan, eager to help innovative companies realize their full potential, co-founded Maveron in 1998 with Howard Schultz, Chairman, President and Chief Executive Officer of Starbucks Coffee Company. His passion, integrity and intensity, combined with a twenty year career in the consumer and retail markets, have produced a chain of successful investments at Maveron. Within the last ten years, Levitan has directed Maveron’s investments in Cranium (acquired by Hasbro NASDAQ:HAS), Qsent (acquired by TransUnion), JobFlash (acquired by Taleo), Quellos (acquired by Blackrock NASDAQ:BLK), Good Technology (acquired by Motorola NASDAQ:MOT) and lucy activewear (acquired by VF Corporation NASDAQ:VFC). He has also led Maveron investments in drugstore.com (NASDAQ:DSCM), Capella Education Company (NASDAQ:CPLA) and Shutterfly (NASDAQ:SFLY). Levitan currently serves on the Board of Directors for Internet REIT, Kinetix Living, The Motley Fool, Pinkberry, Potbelly Sandwich Works, Trupanion and NextFoods. Philanthropy has always been at the forefront for Levitan. He has acted as board member for numerous private, public and philanthropic boards, including Duke University’s Trinity College of Arts & Sciences Board of Visitors, The Rock Center for Entrepreneurship at Harvard Business School and Pilchuck Glass School. Levitan enjoys helping future entrepreneurial leaders and has participated as a judge and mentor for several years at the annual Harvard Business School Business Plan Competition. In his personal time, Levitan devotes himself to his wife and two children, Duke Basketball and climbing mountains – he has climbed Mount Kilimanjaro once and Mount Rainier twice. Levitan graduated from Horace Mann School, and received a BA magna cum laude from Duke University and an MBA from Harvard Business School.
About Maveron: Maveron is a leading venture capital firm based in Seattle, Washington. Dan Levitan and Howard Schultz founded Maveron in January 1998 with the goal of building a firm that would be recognized as the premier financial and strategic partner to leading consumer-based businesses. Maveron’s mission is to partner with entrepreneurs in the creation of extraordinary companies in order to generate outstanding financial returns. Maveron has approximately $850 million under management and 23 active portfolio companies nationwide. Maveron invests up to approximately $20 million in its portfolio companies and looks to partner with a small number of new companies each year. For more information about Maveron, visit www.maveron.com.
