Accel, every mention

Meta (Audio) · Acquired Oct 28, 2024 · 11 mentions

• ▶ 1:33:23 David Rosenthal Excel comes in, leads a series A.
• ▶ 1:34:11 Ben Gilbert So, Kevin Afrusi, who ran down the deal and did the diligence at Excel, and Jim Breyer, who was the partner and took the board seat.
• ▶ 1:35:02 Ben Gilbert In fact, Excel had limited partners drop out of this fund, who were LPs previously, including your beloved Princeton, including Harvard.
• ▶ 1:35:13 Ben Gilbert and I think Stanford was one of the only ones that really stuck with them for this four hundred million dollar fund.
• ▶ 1:35:18 Ben Gilbert And they're kind of looking at this, realizing this might be one of the greatest companies of all time, and we are going to have to do the type of deal that everyone got raked over the coals for five years ago in the mania for doing, and…
• ▶ 1:35:37 Ben Gilbert I think the level of risk and reputation risk that they took on this cannot be underscored enough.
• ▶ 1:36:33 David Rosenthal So yeah, in the dot-com bubble that happened, but like that this would happen in 2005, Excel went way out on a limb for this.
• ▶ 1:37:01 Ben Gilbert So, Excel and their limited partners and Jim, for anyone who's still holding the shares after they distributed them, that is a 13,000 X return.
• ▶ 1:37:29 Ben Gilbert Excel comes in over the top, and in part of the negotiation to get it up to this ninety-eight million dollar deal, there was actually a secondary.
• ▶ 1:49:40 David Rosenthal I want this to be a lot bigger, and obviously that was what Excel was investing into at that valuation.
• ▶ 6:19:33 Ben Gilbert Jim Breyer, who led Excel's Series A investment in Facebook.