Comment by cuchoperl

heroku 94%

pg 6% (early 2008)

---

$3M Series A (mid 2008) Assuming a $2M pre-money:

heroku 37.6%

pg 2.4%

series A 60%

---

$10M Series B (2010) Assuming a $5M pre-money:

heroku 12.5%

pg 0.8%

series A 20%

series B 66.6%

---

$212M Exit:

heroku $26.5M

pg $1.7M

series A $42.4

series B $141.3

---

result:

series A $3M -> $42.4M // 14X in 2.5 years

series B $10M -> $141M // 14X in 1 year

pg $17K -> $1.7M // 100X in 3 years

All the pre-money valuations are guesstimates/fiction.