Ben Gilbert: belief

Transcript context

…Man, Evite, that's like the cockroach of the internet, in a good way. It just won't die. Amazing. You would think, gosh, we're telling this story now, in hindsight, it's 2020. Incredible vision, proven demand for this product. Yes, it's going to be hard to build a full-stack company around this, but financing hard stuff, that's what builds moats. This should be an easy fund to raise. Ben, as you referenced John's episode on How I Built This is great around all this so we won't rehash all of it. It was incredibly hard to get this funded. All the VCs passed again and again and again. He ends up raising $400,000 to start from friends and family at a $2 million post-money valuation. Oh my gosh. And of course, folks probably all know now, I think it's later in my notes maybe what the current market cap of Peloton is, but at its peak, it was a $45 billion public company. IPO'd at $8 billion, went all the way up to (I think) $49 billion, and then today is floating a little above the IPO price between $9 billion and $10 billion. Wow. From a $2 million post-money valuation for that first round. That's 20% of the company he sold for $400,000…

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