The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: The Chess.com Memo: The Most Untold Story in Startups; Scaling to $100M Revenue, 150M Members and 700 People, All with Zero Venture Funding | Erik Allebest, CEO @ Chess.com

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

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Mission-Driven Business and Working with Institutional Investors

The speaker initially had a 20 million valuation but struggled to recall the exact details of their sales and investment prices. They express a liking for the people they work with, particularly those at GA, and acknowledge the impact of institutional investors on their business. They emphasize that their mission-driven approach differs from the institutional investors' focus on driving maximum shareholder value, and express the belief that building a great product to serve the community will eventually create shareholder value.

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