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Super quick napkin math on YC's investment. Many of these assumptions will be wrong.

    YC investment: $120,000 [0]
    YC shares: 1,050,000 [1]
    PD market cap: $1.3 billion [2]
    PD share price: $20.23
    YC investment value: $21.25 million
    YC ROI: 175x
This is a ~4x return on the S10 batch. In that same batch you have Stripe, which looks like it could be a 3000x+ return for YC.


[0] - This could be less, I don't remember the dates YC started messing with this.

[1] - The 3 founders hold 13,670,067 shares, or 91% of 15M shares. I assume YC has 7% of 15M.

[2] - I assume their Sep 2018 raise valuation as the price. I'm not confident the public will value this the same.

Thanks for this! Love to see quick math.

How do you account for dilution though? I’m not too familiar with how it all works, but in this case does it not matter because the amount of shares stays the same? Only total shares have changed?

And yeah Stripe will be a crazy multiplier that has to be at least 2000x and could be over 3000x like you said. I’m guessing they never sold any shares. Especially seeing Square’s market cap above $30B and PayPal at $120B.

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