A VC who didn’t want to cash out

Interesting quote from an interview John Battelle did with Toni Schneider in Business 2.0 magazine, where they talked about why Toni has left Yahoo to work at Matt “WordPress” Mullenweg’s Automattic.com. Schneider helped start Oddpost, the Ajax-ified Web-based email service that Yahoo snapped up awhile back, and worked at Yahoo for awhile before deciding he liked the startup game better. Right at the end of the article he says of the Yahoo acquisition of Oddpost: “The only person who didn’t want to do the deal was Tim Draper, one of our lead investors. He said, ‘You’re selling too cheap. It’s too early. You could be the next Microsoft. They’re stealing this company.'” See? Not every venture capitalist wants to just cash out at the first sign of a takeover offer 🙂

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