Sequoia Capital partner Michael Moritz has a favorite disaster. Its name was Webvan, and it operated for less than two years during the dot-com bust and burned through $375 million from its initial public offering before going out of business in 2001. So Sequoia's July 10 announcement that it's investing $8 million in a San Francisco-based online grocery upstart, Instacart, rekindled some dormant traumas. "We had still been receiving outpatient therapy for our Webvan fiasco," says Moritz, who's joining the year-old company's board. Still, with Instacart, he says, "There's little danger of a relapse."
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机译:红杉资本的合伙人迈克尔·莫里茨(Michael Moritz)遭受了一场灾难。它的名字叫Webvan,在网络泡沫破灭期间运营了不到两年,从首次公开募股中烧掉了3.75亿美元,然后在2001年停业。因此,红杉资本在7月10日宣布,它将在San San Francisco投资800万美元。总部位于旧金山的在线杂货店新贵Instacart重新点燃了一些潜在的创伤。 “我们仍在为Webvan惨败接受门诊治疗,”加入这家成立了一年的公司董事会的莫里茨说。他说,对于Instacart来说,“复发的危险很小。”
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