Facebook Investor David Sze: Hackers Celebrated IPO, Now They're Back To Work
Keeping the IPO ceremony relatively low-key was a goal of the company. The idea is to "keep shipping" products and not get distracted. "Smart companies that go public do that. We saw the same thing last year with Linkedin and Pandora. They took a moment to celebrate the milestone, then went back to business. It's important to keep going on this great journey."
The all-night hackathon on the eve of Facebook's stock float was a fitting way for the company to celebrate, Sze said, since hackathons have been a tradition at the company since the very beginning. "It's the standard they've done for all their hackathons," Sze said. "It's nice to put the two together in that format. The energy was high and great. A lot of people stayed up all night there coding great things. So hopefully we'll see great things in the service (from that).
So what does the Facebook IPO mean for Greylock Partners? That one deal easily returned one of the firm's funds and then some, putting the firm in the upper echelon of Sand Hill Road firms. "Facebook is one of those rare companies. From early on, from 2007 I've been saying Mark (Zuckerberg) is certainly one in a million. It feels like he could be one in a billion. It's been one of those wonderful experiences that are rare and special. That's also what makes them stay focused and keep going on that journey. The other thing I'd say is Greylock, with (companies like) Pandora and LinkedIn and now with Facebook and increasingly in the future with enterprise companies like PaloAlto Networks and Workdayâ¿¿we're just really focused on how to help entrepreneurs build great companies."
My favorite moment from the interview: In the middle of the interview in Facebook's parking lot, a Facebook employee coming to work saw Sze and climbed through the bushes to say hello to him. The employee thanked Sze for helping him. "Congratulations. What a ride," Sze replied. I asked Sze what it means to get to know many employees at Facebook. "A lot of great people come to Facebook. In our business we're about how do we help connect our companies to great people across all levels."See a recent video interview I did with Sze here:
- Victoria's Other Secret: The Low-Key Billionaire Behind The Lingerie Giant
- How This Lawyer Ended Up With $350,000 In Debt And Near Poverty-Level Income
- Forbes 400 Newcomer: From A Single Foosball Table To A Billion-Dollar Gaming Empire
- Retiring Couples' Dilemma: The $100,000 Age Difference
- How A Texas Couple Started With $500 And Built A $1M Shark Tank Winner
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV