Discussion

• @counternotions Kontra on x

  Invest $20+ million in “a startup that enables other startups to manage their payments stack in-house” when the $35B Stripe is already one of your portfolio companies. And then... (Pretty mind-boggling.) https://www.businessinsider.com/ ...

• @jordanhmckee Jordan H. McKee on x

  This is a strange one... Sequoia is giving away $21m to Finix as it walks away from the deal, because it has determined that Finix competes too directly with Stripe, an existing portfolio company. And Sequoia didn't see this before investing $21m how? https://techcrunch.com/...

• @bznotes Bilal Zuberi on x

  This is an incredible decision. Not sure what all went into this decision. And how much it was influenced by the fact that Stripe will likely return billions, perhaps tens of billions to Sequoia...but regardless, avoiding a direct conflict of interest is great to see. https://twi…

• @zachperret Zachary Perret on x

  Impressed to see Sequoia do this. Have seen many VC's ignore portfolio company protests and invest in competitors recently. Hopefully others will take heed. https://techcrunch.com/...

• @shervin Shervin Pishevar on x

  This is integrity. I've seen countless VCs sign term sheets and walk away after and it kills these companies. @sequoia is the gold standard. I bet they even took the $21m out of their carry and fees with no impact on LPs. Wouldn't be surprised by that if true. https://twitter.com…

• @alex @alex on x

  $21M is a lot of virtue signaling

• @teddyschleifer Teddy Schleifer on x

  “Sequoia has, for the first time in its history, revoked a term sheet offered to a company over a purported conflict of interest and, almost more shockingly, handed back over its board seat, its information rights, its shares and its full investment.” https://techcrunch.com/...

• @iankar_ Ian Kar on x

  Not a great look for Sequoia...like..at all https://techcrunch.com/...