“Never doubt that a small group of thoughtful, committed, citizens can change the world. Indeed, it is the only thing that ever has.”
Answer by Teng Siong Ong:
- September 1999: Loudcloud founded
- November 1999: Loudcloud raises $21 million at a $45 million pre-money valuation (Benchmark Capital is the lead investor)
- January 2000: Loudcloud borrows $45 million from Morgan Stanley (MS)
- June 2000: Loudcloud raises $120M at a $700M pre-money valuation
- March 2001: Loudcloud goes public on Nasdaq, raises $160 million and is valued in the public markets at approximately $480 million. Total funds raised to this point: $346 million.
- August 2002: Loudcloud sells the managed services business to EDS (this was the only actual business we had at the time) for $63.5 million and becomes a software company (and changes its name to Opsware).
- September 2002: Opsware trades for 35 cents per share or approximately a $28 million market cap.
- September 2007: Hewlett-Packard (HPQ) acquires Opsware for $1.6 billion
Check out the full story here: The Case for the Fat Start-Up
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