At the Forbes Under30Summit, actress Olivia Munn dishes on being an investor who backed Uber at a $1.5 billion valuation in addition to having stakes in Wag, Vital Protiens and Bulletproof Coffee.
in Detroit, Munn revealed a new side that should open many eyes. Not only is she an active investor, but her first deal was an absolute home run.
Munn invested in ride-sharing giant Uber Technologies at a $1.5 billion valuation when it was a private company and early in its growth. Uber went public this May, listing its shares on the New York Stock Exchange, and the transportation company now trades at a $55 billion market capitalization.editor Steve Bertoni in front of a packed audience in the Jack White Theater at Detroit’s restored Masonic Temple.
Munn is also willing to jump on trends she spots in her own networks. For instance, she doesn’t drink coffee, but she’s an investor in Bulletproof Coffee, which sells coffee with butter in it for people on the Keto diet. “I knew it was good because so many people In Los Angeles who I didn’t think cared about this stuff were doing it,” Munn said.
With the rise of social media, athletes and celebrities now have far more power to effect change, and it’s leading to them taking ownership stakes in their work, Munn said. “When you get to have more of an ownership in what you put your face and brand on, the more comfortable you get.” As an investor who becomes actively involved in the companies in her portfolio, Munn says the challenge isn’t hitting on a number of small ideas, it’s about “aiming high and hitting.
Cofounder Travis Kalanick oversaw a growing unicorn with big MeToo problems and an unsustainable corporate culture. Munn thought about selling her Uber shares but is holding on while new CEO Dara Khosrowshahi works to build new culture. “There was a cleaning up that was going on,” Munn said of Kalanick’s ouster. “That’s why I didn’t sell.”
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