By Sarah McBride
SAN FRANCISCO Feb 26 Keith Rabois, the
executive whose sudden exit from mobile payments company Square
became the talk of Silicon Valley, will join Khosla Ventures in
March, the firm said on Tuesday.
Speculation has swirled around where Rabois would ultimately
land. He left Square last month, citing legal threats from a
young colleague with whom he had maintained a two-year
relationship. He had served as Square's chief operating officer
"We are thrilled to have Keith join us as he has shown
himself to be a great investor, but even more importantly he's a
true adviser," founding partner Vinod Khosla said in a
Khosla Ventures, founded in 2004, is known for backing
clean-technology and Internet companies. Its portfolio includes
Square; microserver company SeaMicro, acquired by chip designer
Advanced Micro Devices Inc last year for $334 million;
and business social-networking service Yammer, acquired by
Microsoft Corp last year for $1.2 billion.
Rabois, who has extensive experience with technology
start-ups, is expected to help the firm further beef up that
part of its business.
A former executive at eBay Inc's PayPal unit with a
degree from Harvard Law School, Rabois has long been an angel
investor in companies such as online lodging business Airbnb.
"High caliber mentoring and genuine counsel is rare," wrote
Rabois in a post on the question-and-answer service Quora."I am excited to join Khosla Ventures because we recognize that
this is what the most ambitious entrepreneurs crave."
Square, headed by Twitter co-founder Jack Dorsey, is one of
the Bay Area's hottest start-ups, raising $200 million late last
year in a funding round that valued the company at $3.25
billion. It sells card readers that plug into mobile phones
enabling businesses to accept credit card payments using an app
on the smartphone.
It is unclear whether Rabois or Square reached a settlement
with the employee who, according to a blog post Rabois wrote
last month, had threatened to sue. Rabois, Square and the young
man's attorney did not immediately respond to requests for a