Sublime

More firms are incubating companies as early-stage valuations rise. A few successes: • Snowflake ($49B mrkt cap) by Sutter Hill Ventures • Affirm ($6B mrkt cap) by HVF Labs • Hims & Hers ($1.3B mrkt cap) by Atomic Our latest Signature Block essay is on venture studios...

Remembering the time one of my investors sent me a competitor’s website and was like have you heard of these guys so I sent back sequoia’s website and said have you heard of these guys.

Divvy - $180M raised with a16z/Caffeinated/Max Levchin.

GitHub grew as a bootstrapped company for over four and a half years; the first fundraising it underwent was a $100 million series A round, led by Andreessen Horowitz, skipping many rounds of financing and dilutions that come with it. Three years later GitHub raised a $250 million series B, led by Sequoia Capital, and in June 2018 Microsoft acquire

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