2min chapter

Acquired cover image

Adapting Episode 2: Sequoia’s Black Swan Memo (with Roelof Botha)

Acquired

CHAPTER

The IPO Was a Great IPO and I'm Still on the Board.

This was like a key moment in acquired history. I felt as often happens with these IPOs that, you know, people just keep on this negative vicious cycle of negative press. And so at the end of the day, we made a much better return for our limited partners by being patient. The fact that it was $9 a share IPO didn't matter because we distributed shares when it got to 80. It's a fabulous company to be associated with from a mission point of view and financial results.

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