Disclosure certainty 5/5 debate potential 1/5

Gumroad raised $10M from Kleiner Perkins, Levchin, Ravikant, and Sacca

Sahil Lavingia · 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed · Aug 24, 2020 · at 4:31

Sahil Lavingia details the initial venture funding raised for Gumroad following its early momentum.

0:00 / 0:07exact quote · 7.6s
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“Raised ten million bucks from Kleiner Perkins, Max Lefgen, Naval, Chris Saka, the wonder kind of story, college dropout, everything like that.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Sahil Lavingia

Assertion Partly supported
Gumroad reached $10M revenue years after Kleiner Perkins wrote it off
“Gumroad, it took me seven, eight, nine years to get to a place where Gumroad kind of is considered, like, you know, we're at ten million in revenue doubling every year, but that's because of a macroeconomic shift, namely COVID, that just happened out of the bl…”
Sahil Lavingia Aug 24, 2020 ▶ 23:25 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
What-if
Sahil Lavingia regrets taking Accel's $400K seed check over super angels
“Frankly, if I could go back in time, I would have said no to them. I would have given that 400 K a hundred K to four different people, super angels or angels, or even split it further.”
Sahil Lavingia Aug 24, 2020 ▶ 30:28 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
Opinion
Lavingia: Career VCs Are Less Valuable to Founders Than Operators
“I think career investors are just not as valuable because frankly, like that sort of on the ground experience of building distribution, building a product, That stuff is just so difficult to read about. You just have to do it to really grok it.”
Sahil Lavingia Aug 24, 2020 ▶ 30:49 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
Insight
Sahil Lavingia says Reid Hoffman's early launch advice is outdated
“Yeah, I think Reid's quote was accurate maybe 10 years ago when he probably said something like that, but the truth is the bar for where your product needs to be today is so much higher, and yes, you should be embarrassed because I think the best founders will…”
Sahil Lavingia Aug 24, 2020 ▶ 9:38 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
Prediction Held up
Sahil Lavingia predicts rolling funds will never reach hundreds of billions
“We're never going to see hundreds of billions of dollars in rolling funds, in my opinion.”
Sahil Lavingia Aug 24, 2020 ▶ 14:39 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
Insight
Lavingia: Increasing startup supply will depress early-stage deal pricing
“If you see a lot more interesting companies, you might actually see a depreciation or sort of a depression in the prices and vice versa.”
Sahil Lavingia Aug 24, 2020 ▶ 16:24 20VC: Sahil Lavingia on Rolling Funds and Their Impact on The Future of Venture, How To Evaluate Market, Team and Product, The Value of Party Rounds & The Pros and Cons of Multi-Stage Funds Investing at Seed
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