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If I remember correctly, it was a way for the investors to cash out on their Google value indirectly. The same VCs (Sequoia I think) that funded Google had fund
by comrade1 11y ago
If I remember correctly, it was a way for the investors to cash out on their Google value indirectly. The same VCs (Sequoia I think) that funded Google had funded Youtube.
It's been a long time so I may be remembering incorrectly. OK, I just looked up the deal and it was done in stock and not cash. Sequoia invested $9M and received $516M as part of the deal.
I did see an article saying Sequoia planned to sell their Youtube acquired Google shares in 2007 (before the lock-out period for employees expires) but I'm not sure if the sale went through.
http://www.nytimes.com/2006/10/10/technology/10payday.html?_r=0 http://www.nytimes.com/2006/10/10/technology/10payday.html?_...