The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20 VC FF 032: Jeff Seibert on Lessons From Being Acquired By Twitter & Box and Now Leading Twitter's Consumer Product
Jeff Seibert is an experienced serial-entrepreneur and currently Senior Director of Product at Twitter. Previously, Seibert was the CEO of Crashlytics, which he co-founded in 2011 with Wayne Chang. Crashlytics delivered crash analysis tools for iOS and Android apps via an SDK that reached 300 Million mobile devices worldwide. Crashlytics was acquired by Twitter in 2013 for $259m. In 2007, Seibert co-founded Increo and served as its COO and lead architect until its acquisition by Box in August of 2009. He subsequently oversaw the integration of Increo’s document preview and annotation technologies into the company's cloud-based content platform.
A special thank you to Mattermark for providing all the data displayed in today's show and you can find out more about Mattermark here! In Today's Episode You Will Learn:1.) How Jeff made his move into the wonderful world of tech?
Today we are going to break up your story into 3 chapters:
1.) Acquisition by Box:
- What was it like going to Sand Hill Road to raise in 2009?
- How much runway would Jeff advise for a startup and how can companies know whether a strategic acquisition is optimal or whether they should continue building with a further round?
- Jeff has spoke before about being overly transparent with this team about the acquisition. What are the problems with being overly transparent and how can you balance the two?
2.) Acquired by Twitter:
- At what point did Jeff transition to thinking the acquisition by Twitter would be a beneficial and viable and why?
- A reason for Jeff being favourable to the acquisition was Twitter's agreement of continued investment in the space. How can founders negotiate and ensure that this occurs with their acquisition? One of the mistakes stated about the acquisition by Twitter was the reporting structure. How can founders ensure that they are speaking to the VPs of engineering, CEOs etc and attain the support they need?
3.) Life at Twitter:
- How life is following the acquisition? What are Jeff's plans for the future as Senior Director of Product at Twitter?