Couple of weeks back, Minglebox announced the investment of 7mn $ from Sequoia Capital.
Little did we know the family angle to the entire deal- Kavita Iyer, CEO founder of MingleBox, is the wife of Sequoia India MD, Sandeep Singhal.
Valleywag reports:
..Minglebox’s founder is Kavita Iyer, who just happens to be the wife of Sandeep Singhal, managing director of the prestigious venture capital firm’s Indian operation. Funny, that. But, before working one’s self into a lather, best to remember that, back in meritocratic California, Mark Kvamme followed his father-in-law into the Sequoia clubhouse.
Moral of the story? Merely, that Menlo Park is just as incestuous as Bangalore; and Sequoia faces fewer cultural divides, as the firm spreads outside the US, than one might think.
Interesting! What’s your take?
tagged:minglebox
Well…
Honestly does this really matter? I dunno…
But yes – is this a coincidence? I dunno..
- A VC
no wonder even if minglebox was given birth solely for sequoia coupe and yes i feel it does matter.
I just hope the investment doesnt go bad. If it does, it will trigger bad remarks against investment and business scenario in India.
I hope these guys release a press statement by shunting all these *thoughts*.
Yes, I do agree that this will have some negative impressions on Indian industry..after all the deal was widely promoted.
-AB
Minglebox:
succes: no one will remember this.
failure: people will say, oh! something was fishy..
Yeah guys..even I hope they just release a press statement.. or maybe it’s not needed?
Well, I dont know..but yes, if the investment is worth 7mn and Sequoia get a good RoI, who the hell cares?
Some real interesting comments in a similar post @ WATblog…
http://www.watblog.com/?content=detail&id=684
i guess its a matter of all others being jealous.
Arjun
Honestly, it’s not about jealousy.
But look at it this way – A VC has some fund size [for every qtr/year] – how do you allot among startups is all that matters.
If it’s distributed irresponsibly, other startups suffer. Right?
I hope this has’t happened in this case, but that’s the concern.
-AB
PS: I am a VC, so I do know a thing or two about this business.