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December 10, 2011 02:00 pm GMT
On Friday, a little-known Swedish ecommerce payments company called Klarna raised a massive $155 million round from DST and General Atlantic. Its previous round was a scant $9 million in May, 2010 when it was discovered by Sequoia Capital and superstar partner Michael Moritz took a board seat (yes, he actually flies to Sweden for the board meetings). "This is the public financing of twelve years ago," Moritz tells me, "it is just done privately."Klarna's mega-round fits into a growing trend with successful internet companies that build out a substantial business on a few million dollars, then don't take on any more money until they do a huge round. Examples include Dropbox, which recently raised $250 million after only raising $7 million before, and Airbnb with its $112 million round (Sequoia was an early investor in both of these as well).
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/zoUUINP1das/
Michael Moritz On Klarnas $155M Round: This Is The Public Financing Of Twelve Years Ago
On Friday, a little-known Swedish ecommerce payments company called Klarna raised a massive $155 million round from DST and General Atlantic. Its previous round was a scant $9 million in May, 2010 when it was discovered by Sequoia Capital and superstar partner Michael Moritz took a board seat (yes, he actually flies to Sweden for the board meetings). "This is the public financing of twelve years ago," Moritz tells me, "it is just done privately."Klarna's mega-round fits into a growing trend with successful internet companies that build out a substantial business on a few million dollars, then don't take on any more money until they do a huge round. Examples include Dropbox, which recently raised $250 million after only raising $7 million before, and Airbnb with its $112 million round (Sequoia was an early investor in both of these as well).Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/zoUUINP1das/
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