Ben Gilbert: belief

Transcript context

…But the point is this was a hot deal. There are all sorts of stories out there about other investors coming into the round or trying to get in or trying to get in later. I think in the middle of negotiations, they got another term sheet at $150 million valuation instead of $100. But I think they were already pot committed to Sequoia and Kleiner Perkins. I actually don’t know who the $150 million came from, but I do know it was someone who Ram Shriram set up the meeting with. Interesting. And remember, Larry’s older brother had co-founded eGroups which Moritz had funded at this point. They knew they wanted to go with Sequoia and Kleiner. That was the goal all along. Regardless, the round gets done. $25 million total raise at a $100 million post money valuation. $100 million valuation was genuinely wild for the time. Even in the heyday of the dot-com craziness for a Series A and $100 million post, that was newsworthy.…

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