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Vrishank
Startups/VC/techย โขย 1y
How sequoia took a billion dollar revenge on Mark Zuckerberg ๐ In 2004, Sequoia approached Mark, they wanted to invest in Facebook, but Mark was not really interested to raise funds from them, so he decided to go to meet the partners in a pyajma and made a ppt which read "10 reasons you should not invest in our startup". Partners at sequoia were not really happy with his behaviour. Fast forward to 2014, Facebook acquired WhatsApp for a whooping 19 billion dollars. And guess who was the only investor in WhatsApp? None other than Sequoia. ๐ Sequoia invested around 61 million dollars in WhatsApp in exchange for 18 percent stake and in 2014 when Facebook acquired WhatsApp, they had to pay Sequoia $3 billion for that 18 percent stake in the company. Which is a 50x return btw. Not just with WhatsApp, but sequoia also got a little revenge when Facebook acquired Instagram in 2012. They again had to pay Sequoia millions of dollars. Finally, Sequoia had the last laugh in this saga. ๐
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