Here's who won big from Slack's direct listing:
From left: Courtesy Squarespace, Getty Images, Courtesy Stripe Squarespace CEO Anthony Casalena, Yelp CEO Jeremy Stoppelman, and Stripe founders Patrick and John Collison backed Slack in 2014 and would hold stakes worth 73 times their money at a $16 billion market capitalization—or $1.8 million for each $25,000 they put in.
CEOs endorsing the next generation of startups dates back to the 1970s in Silicon Valley, when Apple’s founders took money from Intel’s Mike Markkula alongside venture capital firm Sequoia. Sacks straddled several generations of investors in his career from “PayPal Mafia” member to CEO and founder of Yammer, the messaging platform bought by Microsoft, then to CEO of embattled startup Zenefits, before becoming a full-time venture capitalist at Craft Ventures.
Scott Belsky, chief product officer at Adobe and an investor in billion-dollar tech companies including Carta, Flexport, Pinterest, Uber and Warby Parker, agrees. When Belsky was working on his previous startup Behance, which Adobe eventually acquired in 2012, Garrett Camp, then the CEO of StumbleUpon, personally invested. When Camp started Uber, he returned the favor, offering Belsky a chance to invest.
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