SEQUOIA CAPITAL CONFIDENTIAL 2

Start an Inferno with a MatchStanford Startup School

They Didn’t Need a Lot of Money to Start (<$2M)

…But Got Fairly Big

$264 M

~$ 500,000M

Not Only Great P&Ls, Great Companies

Steve Wozniak & Steve JobsApple

Trip HawkinsElectronic Arts

Sandy Lerner & Len BosackCisco

Jerry Yang & David FiloYahoo

Larry Page & Sergey BrinGoogle

Max Levchin& Peter ThielPayPal

Steve Chen, Chad Hurley & Jawed KarimYouTube

Jen-Hsun HuangnVidia

Alfred Lin & Tony HsiehZappos

Trevor Healy & Daniel MattesJajah

Omar HamouiAdMob

Steve StreitGreen Dot

Its Not About Being Small

They Thought Differently . . . They Had To

They Didn’t Throw Money at Problems

They Were More Clever

They Built Simple Easy-to-Use Products

They Were More Focused

They Rang the Cash Register Early

They Stayed Close to the Customer

They Moved with Greater Agility

Its Not Just About Being Small

Its About Doing More With Less

Achates Power

Dave Johnson

Diesel engine systems

Ship Something Early

Steve & Steve Sandy & Len Larry & Sergey

Put a Price on it

AirBnB

Brian CheskyJoe GrebbiaNathanBlecharczyk

Peer-to-peer travel network

We Love Ramen Profitable

Cheap PCs

Free Software

Low Cost Infrastructures

User Generated Content

Viral Distribution

mcadoo@sequoiacap.com