Levo (formerly Levo League) was a network targeting millennials in the workplace. The company provided young professionals with resources to help them navigate and advance their careers.[1] At one time, Levo claimed over 9 million users.[2]

History

Launched in 2012, Levo was founded by Caroline Ghosn (daughter of auto tycoon Carlos Ghosn) and Amanda Pouchot, as well as two other women, Kathryn Minshew and Alex Cavoulacos (see Controversy). The founders met at their first corporate jobs working for the management consulting firm McKinsey & Company in New York where they brainstormed their idea.[3]

The founders successfully raised over $8 million in funding,[4] adding $7 million from its round of Angel funding in early 2014.[5] Prominent U.S. investors in Levo include Sheryl Sandberg, COO of Facebook, Susan Lyne, Chairman of Gilt Groupe, and Gina Bianchini, CEO of Mightybell.[2]

Services

Levo granted its members digital access to mentors, a community of professionals, job postings, and live chats with prominent business role models.[6] In addition to its online community the group also operated 30 local chapters[7] worldwide to help its users to connect to opportunities offline.[8]

Controversy

Levo was founded as Pretty Young Professional by four women who worked in the NYC office of McKinsey & Company: Caroline Ghosn, Amanda Pouchot, Alex Cavoulacos, and Kathryn Minshew, with an equity structure that reflected ownership by all (Minshew 7.1%, Pouchot 5.5%, Cavoulacos 4.4%, Ghosn 1.5%).[9] Minshew was the first full-time employee and Editor in Chief, and eventually CEO.

After a dispute between the founders, Ghosn and Pouchot secretly re-launched Pretty Young Professional as Levo League and ousted founders Cavoulacos and Mishew, who went on to found The Daily Muse.[9]

References

  1. ↑ Benedicto Klich, Tanya (24 September 2014). "Mentors: How to Find One and Maximize That Relationship". Entrepreneur. Retrieved 23 February 2015.
  2. 1 2 Hall, Gina (24 July 2014). "This company wants to put Sheryl Sandberg in your pocket". Bizwomen. Retrieved 23 February 2015.
  3. ↑ Benedicto Klich, Tanya (7 October 2014). "Advice for Entry-Level Employees: How to Be Authentic in the Workplace". Entrepreneur. Retrieved 23 February 2015.
  4. ↑ Red Herring (11 February 2014). "The Levo League raises $7m – Investment Round Up". Red Herring. Retrieved 9 December 2014.
  5. ↑ Mcmillan Portillo, Caroline (26 August 2014). "Levo opens Silicon Valley office on heels of a $7 million round of funding". Bizwomen. Retrieved 23 February 2015.
  6. ↑ Brady, Diane (17 February 2014). "Levo League's New Model for Millennial Media". Bloomberg Businessweek. Archived from the original on February 17, 2014. Retrieved 21 October 2014.
  7. ↑ Dhawan, Erica (3 December 2014). "Inside the minds of biz-savvy millennials". Fortune. Retrieved 27 January 2015.
  8. ↑ NBC News (5 August 2014). "Apps I Live By: Levo League CEO Caroline Ghosn". NBC News. Retrieved 21 October 2014.
  9. 1 2 Cohan, Peter (9 August 2011). "A Cautionary Tale: Friendship, Business Ethics, and Bad Breakups". NBC News. Retrieved 8 November 2016.

Further reading

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