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Basecamp is now a $100 billion dollar company, according to a group of investors who have agreed to purchase 0.000000001% of the company in exchange for $1. So

• Pxtl 10y ago
  They should have sold it for $10 to make it an even trillion.
• etjossem 10y ago
  You do know that post is one big "valuations are high and we are in a bubble" joke, right?
• reitzensteinm 10y ago
  This is a trite complaint, and in my view, misses what is often bogus about the lofty valuations - liquidation preferences provide a lot of downside protection. For instance, if I invest $1bn in Uber at a $10bn post and a 1x preference, I get the first $1bn of any sale. Yes, I invested at a $10b valuation, but I don't actually lose any money unless the valuation sinks below $1bn. This is a much better deal than simply paying $1bn for 10% of Uber, and in my view, actually does not imply a $10bn valuation at all.
  • gjem97 10y ago
    You're right on, and there may in fact be a half dozen more material economic terms which also adjust down the implied $10bn number. Add into that the fact that each round often has it's own set of terms, and you begin to realize that the "valuation" numbers thrown around mean absolutely nothing.