A cursory Googling reveals PrivCo and CEO Sam Hamadeh will say just about anything for an apropos headline.
Union Square gets 5,000% return on Tumblr
31–40 of 72 posts
Re: Union Square gets 5,000% return on Tumblr
#32Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
The Series A USV invested in was only $775,000 and was at $1/share according to privco and confirmed by docs I've seen. So how much did USV invest? Obviously Tumblr sold for over $200/share, so please do the math and show what's off? Is it a few percent, in which case what does that matter when you've made 5,000%? You should be proud of that! As a VC I'm envious Fred.
But I've found the privco data reliable (but I'm a client), so I respectfully disagree with just throwing out ad-hominem attacks. So they called out your bad bed on Foursquare. (Foursquare was just forced to borrow $41 Million and even you blogged it would be massively dilutive. PrivCo said forusquare will be out of business by year's end absent raising "massively dilutive" funding.
So I respect you, I respect PrivCo from my working with their remarkably accurate data. You shouldn't take it personally, congrats on today, and if there's something we should all know and you DIDN'T do that well, well I guess tell us. If you did even better, tell all of us on HN and even more kudos! Just don't throw out attacks though something's "wrong" when it can be wrong by a penny or by alot and either way you're technically not lying...it's beneath you and USV and us VCs, c'mon you're better than that.)
Again hats off if you did even close to what's been reported on your Tumblr preferreds.
Re: Union Square gets 5,000% return on Tumblr
#33Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
It does sound a bit suspect to me... the particulars of the deal and who got what isn't public information afaik, so what exactly is "financing documents it says it obtained" supposed to mean?
Re: Union Square gets 5,000% return on Tumblr
#34Worth noting that "A spokeswoman for Spark Capital disputed the accuracy of the report" Privco were the same guys who did the LivingSocial hatchet job a while ago which was proven inaccurate. Privco's MO seems to be wild claims to generate interest in their private company data. It seems even major publications think Privco's claims and data are not very good. Here's a tweet from TechCrunch and AllThings D editors qu…
PKmehta "I dispute the accuracy of your post." Ha. No specifics. I just dispute the accuracy! lol.
Re: Union Square gets 5,000% return on Tumblr
#35Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
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Re: Union Square gets 5,000% return on Tumblr
#36Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
The Series A USV invested in was only $775,000 and was at $1/share according to privco and confirmed by docs I've seen. So how much did USV invest? Obviously Tumblr sold for over $200/share, so please do the math and show what's off? Is it a few percent, in which case what does that matter when you've made 5,000%? You should be proud of that! As a VC I'm envious Fred. But I've found the privco data reliable (but I'm…
I take it personally when people write irresponsible garbage about our portfolio companies. I care about them and their teams a lot. Making money is nice but being a supportive and good investor is a lot better
Re: Union Square gets 5,000% return on Tumblr
#37Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
The Series A USV invested in was only $775,000 and was at $1/share according to privco and confirmed by docs I've seen. So how much did USV invest? Obviously Tumblr sold for over $200/share, so please do the math and show what's off? Is it a few percent, in which case what does that matter when you've made 5,000%? You should be proud of that! As a VC I'm envious Fred. But I've found the privco data reliable (but I'm…
I take it personally when people write irresponsible garbage about our portfolio companies. I care about them and their teams a lot. Making money is nice but being a supportive and good investor is a lot better
Re: Union Square gets 5,000% return on Tumblr
#38Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
That investment amount seemed low, as it suggested you weren't exercising your pro rata rights.
If the initial $400k bought 10% of the company, USV would need to buy 10% of each subsequent round to maintain their ownership, which would be ~$12.5M. That's ignoring varying definitions of pro rata rights, other dilution but probably a good lower bound.
If the initial $400k bought 20% (more likely for Tumblr in 2007), USV invested ~$25M to keep their ownership stake.
Fred seems like the kind of guy who always does his pro rata, so I'd imagine those numbers are closer to reality.
Re: Union Square gets 5,000% return on Tumblr
#39Earlier quoted context omitted.
The Series A USV invested in was only $775,000 and was at $1/share according to privco and confirmed by docs I've seen. So how much did USV invest? Obviously Tumblr sold for over $200/share, so please do the math and show what's off? Is it a few percent, in which case what does that matter when you've made 5,000%? You should be proud of that! As a VC I'm envious Fred. But I've found the privco data reliable (but I'm…
I take it personally when people write irresponsible garbage about our portfolio companies. I care about them and their teams a lot. Making money is nice but being a supportive and good investor is a lot better
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Re: Union Square gets 5,000% return on Tumblr
#40Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.
The Series A USV invested in was only $775,000 and was at $1/share according to privco and confirmed by docs I've seen. So how much did USV invest? Obviously Tumblr sold for over $200/share, so please do the math and show what's off? Is it a few percent, in which case what does that matter when you've made 5,000%? You should be proud of that! As a VC I'm envious Fred. But I've found the privco data reliable (but I'm…
Also where did you get $200 a share from? That is bogus.