NEWS

Benchmark's Advice In Wake of Financial Crisis

PE Hub
October 10, 2008
By Lawrence Aragon

Before Sequoia Capital gathered its portfolio companies this past Tuesday to give them advice about the current economic unpleasantness, Benchmark Capital sent the following advice the prior week to the CEOs and CFOs of its portfolio companies. In sharing the memo with us, General Partner Bill Gurley notes: that it “was intended to be low key. We werent trying to create coverage.” He adds: ”We are not under our desk. We believe that there is tremendous opportunity that arises in situations like this. As a result we (a) want for our current investments to re-optimize around the new reality, and (b) will be very active in pursuing new deals/opportunities.”

That said, here's the memo: Benchmark September 2008 Perspective