Gumroad reached $10M revenue years after Kleiner Perkins wrote it off
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 23:25
Sahil Lavingia, founder of creator platform Gumroad, discusses how venture capital time horizons contrast with founder time horizons, revealing financial performance and investor decisions regarding Gumroad.
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“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 blue, and it took nine years to get to, and it was sort of considered a write-off Literally a write-off by Kleiner Perkins two years ago, seven years into the company.”
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