Further to our post yesterday on the sale of Slide to Google, we’ve spoken to a source with knowledge of the terms to understand what everybody made from the deal.
As we speculated yesterday, founder Max Levchin did the best out of the sale, making a comparable sum to the one he made from PayPal – proving once again the value of investing in your own idea. Also, while the sale price represented a big come-down in valuation, it’s important to note that no one lost money on the deal.
Here’s how it breaks down…
Levchin, who invested $7m of his own money in the series A round, made $25m from his preferred shares in Slide plus $14m from common stock for a total of $39m. Scott Banister who also took part in the series A made $5m from the sale.
BlueRun Ventures, who invested $8m in the series B round made $28m.
The Founders Fund and Mayfield Fund, both investors in the series C, each made their money back.
Fidelity Investments, part of the series D: also made their money back.
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In addition, Keith Rabois, Slide’s VP of Strategy & Business Development made $1.5m from the deal. Our sources also tell us that, along with the $182m purchase price, Google has agreed to pay an additional $46m in employee retention bonuses, making the total deal size $228m.
