BrokerageIndustry News

Redfin partners with VC firms to diversify startup boards

Other firms can join the campaign via Twitter using #DiverseFromTheStart
  • Publicly funded companies and venture capital firms have made progress in hiring more diverse boards -- but startups are behind.
  • A Redfin partnership with several venture capital firms will encourage startups to make at least one board seat available to a diverse candidate within two years of receiving funding.

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If you've been paying any attention to the problems plaguing Uber, then you already know that the technology industry has a diversity problem -- and that board members contribute to attitudes that permeate every company. In an effort to build the most diverse boards possible, Redfin is partnering with several venture-capital (VC) firms (DFJ, Greylock Partners, Madrona Venture Group, Pioneer Square Labs and Boardspan) that will encourage the startups they fund to "make at least one independent board seat available to diverse candidates within two years of that funding," Redfin's Bridget Frey (CTO) and Glenn Kelman (CEO) wrote in a blog post. "Other venture firms who wish to join our campaign can sign on via Twitter using the hashtag #DiverseFromTheStart," they added. What's the problem? In November of last year, Frey and Kellman looked at the number of women appointed to the boards of publicly funded companies between 2013 and 2016, and they reported that the number of women ap...