socoya claims Instagram was one of their investments where it sold 48 hours after they invested yeah, they were an investor for two days. I don't remember the valuation of instagram series a call it 50 million maybe less Right to 20 x in a year Yeah, it's crazy very hard to turn that down It's also funny that peter fenton ipos are in that Fun new relic which was incubated in their office Yep, because peter had invested in lucerne's previous company when he was at excel To build point about repeat entrepreneurs and enterprise are as close to a sure thing as you can get By the end of fund six It's clear. There's something special going
Benchmark Capital. We tell the tale of the legendary equal partnership that accomplished something no other venture firm can claim: twice it has produced the highest returning fund of its cycle, each time with a 100% different GP lineup. If ever there were a playbook for successful generational transfer of a generational-defining venture firm, this is it. We spend 3.5+ hours digging into how the dotcom “eBay eBoys” transformed into the rockstar Fab Four of the Uber, Instagram and Snap mobile gold rush (spoiler: not by a straight line!), and what the future holds for Benchmark’s next GP generation. If you’re a student of the venture game from any angle — founder, GP, LP, etc — this is a story you need to tune in for!
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