Alibaba Group, the Chinese Internet retailer behind the biggest initial public offering ever, has opened the floodgates for even more tech IPOs, a venture capitalist told CNBC on Monday.
"The Alibaba IPO is a watershed moment and what it does, it does open up, just like the Facebook IPO, opportunity for a lot of IPOs to go out," Venky Ganesan, managing director at Menlo Ventures, said on "Squawk Alley." "There's a bunch of companies on file, including some in our own portfolio, and we're very excited for the second half of the year."
Ahead of Alibaba's offering on Friday, though, venture capitalist Bill Gurley told The Wall Street Journal that Silicon Valley is getting a little too risky with all of these start-ups.
"I think that Silicon Valley as a whole, or that the venture capital community or start-up community, is taking on an excessive amount of risk right now; unprecedented since '99," Gurley told the Journal.