Word: vc
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They skipped spring break--and most of their classes--to finish their plan. In May 1998 they secured VC funding. The next month, they quit Stanford. "It wasn't a hard decision," says Lefcourt, sitting in the company's office, which is luxurious by start-up standards. "The things I was trying to get out of business school I'm getting right here...
From Linda Kellogg, if you're lucky. Kellogg is no VC, but in some ways she's just as indispensable. Working as the director of human resources at Venture Law Group, she was constantly being tapped for advice by 28-year-old wonder-boy CEOs. "Here's this very bright Harvard M.B.A., who just got $12 million, asking me where to get phones," she recalls. Hello, business plan...
...probably harder to get her than to get our VC," says Kris Hagerman, the CEO of Affinia. "I bought her lunch and pitched her for an hour and a half." Kellogg waived her fee and, VC-like, took equity in lieu of cash...
...Chin is about to make partner at Information Technology Ventures, a small but rising Palo Alto VC firm. Chin handles the firm's portfolio of seven Internet companies and scours the Valley for others to fund. It's a frenetic job, but Chin crackles with rapid-fire energy. "We're going for the early-stage, high-risk, big hits," he says, piloting his midnight-blue Mercedes down I-280 on a recent Wednesday. "When I evaluate start-ups I ask, 'Is this a multibillion-dollar market? Can this be a billion-dollar company?' We want companies that can be industry...
Before going home, Chin will sit through a presentation by an online wine shop and have sushi with a man who claims to have a blockbuster e-commerce idea--he just won't tell Chin what it is. Chin will take his chances. Like every young VC in the Valley, he needs to land a big IPO score to become a real player. He's too sure of himself to admit being worried that many of the companies he backs will never make it that far. "It's a guess; it's a bank shot--you throw...