1999
Marc Andreessen agreed to be LoudCloud's chairman and invest $6 million rather than act as an active co-founder.
“Mark says, I don't want to be an active co-founder, but I'll be chairman and I'll invest $6 million.”
Topic
LoudCloud
6 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1999
Benchmark agreed to invest $15 million in LoudCloud at a $45 million pre-money valuation.
“which was a $45 million pre-money valuation. And Benchmark is going to invest $15 million in the company.”
2001
LoudCloud went public in March 2001 at $6 a share.
“So in March of 2001, they actually go public at $6 a share.”
2002
In 2002 LoudCloud sold its infrastructure business to EDS for $63.5 million and laid off most of its staff.
“So they sell basically the entire business for $63.5 million. They lay off almost everybody at the company.”
2002
After restarting as a software company, LoudCloud's stock fell to $0.35 a share, a $28 million market cap.
“the stock craters to $0.35, which is a $28 million market cap.”
Undated
Michael Ovitz, founder of Creative Artists Agency and briefly president of Disney, sat on LoudCloud's board.
“Of course, we're talking about super Hollywood agent, founder of creative artist agency, Michael Ovitz, later erstwhile COO and president of Disney under Eisner.”
Episodes