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There was an angel round early, but when it came time for KP and Sequoia to enter, the dynamics were quite interesting. The company retained an enormous chunk
by jpdoctor 15y ago
There was an angel round early, but when it came time for KP and Sequoia to enter, the dynamics were quite interesting. The company retained an enormous chunk of the ownership in part because they could (already!) walk away if they needed to.
- joshu 15y agoI don't believe they had revenue at that point.
- shadowsun7 15y agoThey didn't have revenue at that point. In fact, they were close to going bankrupt a couple of years later, before Adsense kicked in. Source: In The Plex; also see Ron Conway's speech at Startup School 2010
- deleted 15y ago[deleted]
- jpdoctor 15y ago> They didn't have revenue at that point. Not correct.
- shadowsun7 15y agoSources please.