The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 16 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Ehrenberg: Selling Trade Desk Early Was Undeniably The Right Decision
“Let me tell you, the downside regret versus the upside opportunity cost. Like, we made the right trade. It's not even a question.”
Lemkin: Classic high-ownership seed deals yielding multi-billion outcomes are dead
“And my bigger concern is that I think those are deadish in seed. Right. Owning one percent is, is still good. One percent of forty billion is good, but that's the classic seed that I think we're griping about. Like, can we do trade desks today?”
Frankel: Founder Collective regrets selling any secondary shares in Trade Desk and Uber
“Well, Trade Desk, I regret every single share I sold. Uber, I regret every single share I sold.”
Frankel: Trade Desk was a bigger outcome for Founder Collective than Uber
“Trade Desk was a bigger outcome for us. Coupang returned the fund, right? Like if, and multiple times.”
Frankel: Founder Collective funded The Trade Desk when nobody else would
“Eric invests in Trade Desk as a follow on because nobody else was going to give them money.”
Ehrenberg: IA Ventures Turned $5.2M in The Trade Desk into $300M DPI
“I think that we ended up returning five to six X net on that one trade. It was a two hundred and fifty million dollar fund. So 5000005.2 million turned into net two 50 to three hundred million DPI.”
Paley: Trade Desk Founder Limited Fundraising to Preserve Acquisition Optionality
“And I'll tell you another story, you know, with Trade Desk, one of the reasons we didn't raise a lot of money was, we were the last ones in, and people just thought it was played already in the programmatic advertising market. But one of the reasons we didn't …”
IA Ventures invested over 10% of its $50M fund into The Trade Desk
“So we co-led seed, and then it leads into two small bridges. So when the dust settled, we ended up having 2.2 million out of a fifty million dollar fund in the company. So that was still, you know, under It wasn't until after they had taken off like a rocket s…”
IA Ventures funded The Trade Desk when outside investors refused
“Yet, you know, the insiders were confident that Jeff Green, Dave Pickles, and the team were on the right track, and that they were doing something truly differentiated, and they were executing well. It just was in an unsexy area at a really bad time, and we co…”
Ehrenberg: The Trade Desk raised multiple extensions before its Series A
“Some of our best companies have actually raised kind of extension rounds. The Trade Desk, you know, which is now, you know, trading at well over a billion dollars, they needed a few extensions before they were able to kind of raise their Series A.”
Ehrenberg: IA Ventures Funded Trade Desk Series B Using Simple Exit Liquidity
“We had a similar result From a very different situation in fund one, when we sold simple to BBVA, because that generated the liquidity that we then invested in the trade desk series B.”
Ehrenberg: IA Ventures Co-Led The Trade Desk's Seed Deal Off a PowerPoint
“We literally committed on the basis of a PowerPoint. And we worked on that deal with Founder Collective. So Eric Paley and I both sat on the board. And so we literally co-led the seed round together and then IA breached them three times before raising their Se…”
Ehrenberg: IA Ventures Held 17% Ownership in The Trade Desk at IPO
“There is nothing like taking a company public where we owned 17% on the day of IPO.”
Paley: The Trade Desk Burned Only $7 Million Before Its IPO
“The company burned seven million dollars before going public.”