The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
01:08:42 · Harry Stebbings, Rory O'Driscoll, Dev Ittycheria
[01:08:42] S3: I would have hit the bid on price here, boys. Come on, you look at the consumer hardwire companies that have gone before, from your jaw bones to your palatons to your... I mean, hit the bid at 13 and take it out. [01:08:54] S0: Yeah. I agree. What you're saying is the board should have said, these guys told us $30 a share, whatever it is. They didn't believe it, but we didn't believe them. So our lies cancel each other out. We got off at $20 a share. That's a good price. Hit the bid. And, yeah, they obviously chose not to, and they had their reasons. But yes, I think it's very hard to go this far down. I mean, I can't remember that. Did you guys at BladeLogic, did you hit it the first time after you filed? Did you have an extended filing or something weird like that? Or do clean straight out? [01:09:21] S1: No. We got straight out. It was a little wobbly. The market was a little wobbly at the time because that's when the signs of that the debt markets were maybe not as solid as people thought. We went out in July 2007, and then the markets progressively got worse, you know, going into 2008, but we got out.
01:09:21 · Dev Ittycheria, Rory O'Driscoll, Jason Lemkin, Harry Stebbings
[01:09:21] S1: No. We got straight out. It was a little wobbly. The market was a little wobbly at the time because that's when the signs of that the debt markets were maybe not as solid as people thought. We went out in July 2007, and then the markets progressively got worse, you know, going into 2008, but we got out. [01:09:37] S0: Got it. So you probably would be one of the last out of that class. Remember, had Omniture in, I think, o six or early o seven. But, yeah, you had that Vonage company and a couple of others, then it got thrashed, and then it was done. But, yeah, Harry, to your point, I mean, playing that back, listen to what he said, is that the the debt markets were getting a little shaky. Take a look at The Wall Street Journal now. Sometimes you're right, Harry. You should hit the bid and get it done when you get that far down because there's a lot that's gotta happen between now and the the Anthropic IPO in the middle of November. [01:10:06] S1: I don't mean to be rude, but I gotta go sell some software. So [01:10:09] S0: Yeah. You [01:10:09] S2: gotta sell some software. [01:10:10] S3: Go. Sell some software, baby. [01:10:12] S2: Thank you for the time. [01:10:13] S0: Thank joining the show. It was awesome. We're done.
01:10:17 · Harry Stebbings
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01:12:36 · Harry Stebbings
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