Many private companies are seeing the market and wondering what it means. Here are some thoughts on how to navigate this. Anything useful is based on the experiences of my teammates at Sequoia and the incredible founders who have survived/thrived in all markets:
New: Cresta, which makes AI for call centers, is now worth $1.6B after a Tiger Global-led round.
I spoke to CEO Zayd Enam on why he thinks a Twitter thread that called Stripe a tech "mob boss" is not so wild—and how he's trying to replicate the approach:
https://forbes.com/sites/kenrickcai/2022/03/17/cresta-series-c-4-billion-tiger-global-zoom-five9/…
We are delighted to announce our $140M Series D round led by @CapitalG - bolstering our leadership in API security with a $1.4B valuation! Learn more http://ow.ly/pIMz50HRG0v#apisecurity#fundingnews#CapitalGfamily#seriesd
The best leaders are (both) demanding and supportive.
(As a bonus, I would bet this is the only thing you'll read today that talks about Mike Moritz, my parents, and Game of Thrones)
Scoop: Sequoia Capital just blew up the VC fund model
https://axios.com/sequoia-capital-fund-venture-capital-model-36425923-deff-430e-9945-09b0ccb69c78.html…
We're thrilled to announce our Series E. It's an honor to accelerate R&D at more than 1,000 organizations around the globe. This funding will help us continue to deliver innovation across the life sciences to solve some of our world's greatest problems.
https://forbes.com/sites/amyfeldman/2021/04/14/biotech-rd-startup-benchling-hits-4-billion-valuation-as-the-company-starts-laying-the-groundwork-for-an-ipo/?sh=7b18e9013ac9…
Founders & business leaders: On 3/5/20 we warned Sequoia companies to prepare for the impending COVID crisis. Today we sent this note to our founders and CEOs with advice for navigating the current climate and the coming recovery. We hope it's helpful. https://seq.vc/Now_Seize_It
flew home to vancouver for the holidays
🇨🇦 customs asked multiple covid exposure q’s + enforced 14 day quarantine (up to 750k fine) w/ daily check-ins via a (beautiful) app
returned to 🇺🇸: literally not a single q about covid...got on the plane, landed and jumped in an uber 🤔
is leading Salt Security's Series B
APIs have become the fundamental unit of software--and Salt is the market leading solution to secure them.
Roey and Michael are special founders and we are thrilled to partner with them! 🧂
BIG news! @SaltSecurity raises $30M Series B round for its industry-first #APIsecurity platform , led by @sequoia with @carl_eschenbach joining our board. Buckle up, everyone - here we go! http://ow.ly/YMfF50CFERU#VC#apiprotection
1. static site -> send hardcoded excel model
2. dynamic site -> send hardcoded excel model; someone reqs change; make it and send back new hardcoded model
3. single page js app -> send actual excel model
4. jamstack -> send *google sheets* model with some hardcodes, some not
crazy how wfh has collapsed job switching costs for knowledge workers--no awkward goodbye party, no empty desk, no commute change
you literally just open a different zoom link. that's it.
will mark #Juneteenth as a company holiday this year and every year. We will honor this day to learn and reflect on how we can be a part of the solution to racial injustice, and take personal actions to support civil rights organizations and Black-owned businesses.
--joshua campbell's msg rings louder than ever
"now, I believe in the power of raising my voice
and I believe in the power of making some noise"
we need police policy reform.
As millions of people across the country take to the streets and raise their voices in response to the killing of George Floyd and the ongoing problem of unequal justice, I’ve heard many ask how we can sustain momentum to bring about real change.
my prayers and solidarity stand with the black community
MLK said rioting is the language of the unheard. we have failed to hear.
don’t just charge derek chauvin—charge ALL four cops.
abolish qualified immunity ✊🏽
The guy in this video runs a VC firm. If he thinks a group of African American males are out of place in the gym, imagine what happens when someone diverse shows up to his firm looking for investment. This is why diversity & inclusion are important in VC & investment community.
a group of young black entrepreneurs have owned a office building in uptown minneapolis for over a year& got racially profiled at the private gym todaysmh
evidence that innovation is seeing diminishing marginal returns: my strong conviction that, hands down, the best apple watch feature is its ability to ping my iphone when it’s a foot away from me
this feels correct: “Investors are buying stocks in part because they have nowhere else to go. In fact, there’s a sense in which stocks are strong precisely because the economy as a whole is so weak.”
NEW: Friday 20 March update of our coronavirus mortality trajectories tracker
• Italy had highest single-day death toll of any country today: 627
• UK still on steeper mortality curve than Italy, as Britain begins to lock down. Too late?
Live version: https://ft.com/content/a26fbf7e-48f8-11ea-aeb3-955839e06441…
Founders & business leaders: We sent this note to Sequoia founders/CEOs to provide guidance on how to ensure the health of their business while dealing with the consequences of the coronavirus. We hope it's helpful to you during these turbulent times.
New 20VC Episode
Such a pleasure to do this one with @S27G_@cartainc discussing:
The opportunity investing between rounds.
How to think about distribution vs product and more...
http://thetwentyminutevc.com/sumeetgajri/
, team Sequoia, and the Insight squad! V excited for all 🙌🏽🚀
I'll never forget the first time I met Yevgeny: he interrupted his own pitch to literally close a million dollar contract live--true story 😂
what if IDF Unit 8200 was a venture fund: Palo Alto Networks (23bn), Check Point (17bn), Wix (6bn), CyberArk (5bn), Imperva (acq. 2bn), Waze (acq. 1bn), Radware (1bn), NSO (1bn)...alumni unicorns alone have produced 56bn of EV 👀
this is YC’s genius: in only ~15 yrs, it has become the first legitimate competitor to elite education in history—and it has done so w/ a better business model: equity https://twitter.com/nachkari/status/1203384615685242880…