Farquhar: Benchmark declined splitting Atlassian's initial round with Accel
Scott Farquhar · Scott Farquhar: Founding Atlassian; How We Scaled to a $50B Valuation; The 4 Jobs of a CEO | E1070 · 20VC with Harry Stebbings · Oct 9, 2023 · at 14:25
Scott Farquhar, co-founder and co-CEO of Atlassian, details how Atlassian offered Benchmark's Peter Fenton the chance to match Accel's higher valuation bid to split their initial venture capital round.
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“And actually like we went back to Peter Fenton at Benchmark was, I think the runner up bidder. And we went back to Excel and said, Hey, look, all things considered, maybe we should get two VCs or, you know, in there, even though there was a huge difference in valuation. And we went back to Peter Fenton and told him if he matched Excel's price you know, Excel were happy to split the deal with him.”
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