O'Driscoll: Kleiner and Sequoia paid nearly $100M post-money for pre-revenue Google
Rory O'Driscoll · 20VC: Why Market Is More Important Than Team, The 4 Key Roles of A Board Member & Why Founders Get Market Sizing So Wrong with Rory O'Driscoll, Founding Partner @ Scale Venture Partners · Nov 28, 2016 · at 8:35
Rory O'Driscoll, Founding Partner at Scale Venture Partners, illustrates why entry valuation matters less than market potential by citing Sequoia and Kleiner Perkins' 1999 Google deal.
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“The single most successful venture investment in the last probably 20 years was done in 1999, and it was done at an absurd valuation. That's Google. Kleiner and Sequoia paid almost a hundred posts for a pre-revenue company There was doing a search engine in 1999. It's the year that most people lost their money, and the deal that made the most money was wildly overvalued.”
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