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As the former president of PayPal, he understood the online payment sector but had no experience in the media and advertising industries.
He's said to bring "significant expertise" in the online payment sector, having previously co-founded SECPay, which processes real-time card payments for goods and services bought over the internet, and was bought by PayPoint for a reported $20 million in 2007.
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Although the online payments sector was becoming increasingly crowded, Cakmak said PayPal had a global brand, operating in 200 markets and in 100 currencies, and hence had negotiated a "very complex regulatory framework".
Accel Partner Todd MacLean believes that online payments is sector where the firm's experience and expertise will provide them with the tools to be able to place bets on the right companies.
Its online payment service, Alipay, has gone on to become on the biggest players in the sector.
At the same time, online video, mobile Internet and online payment were deemed the three Internet trends with the most potential in the Chinese Internet sector.
The decision by Alibaba Group and several of its competitors to move into the financial sector appear to be a big enough threat to state-owned banks that the government recently blocked new online payment services by Alibaba Group and Tencent.
Online payment was also a hurdle.
Tencent then added online payment features to WeChat.
Of online payment processors, PayPal is considered the gold standard.
Some online payment services also provide such coverage.
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