Its hit rate isn't perfect. But this year, Sequoia's portfolio has already produced a handful of companies that went public at enormous valuations—and another is soon on the way.
Sequoia was an investor in Dropbox, which debuted in March at a valuation of more than $8 billion. The firm also backed Eventbrite, which debuted in September at an estimated $1.75 billion valuation, as well as Guardant Health, which reached a $1.6 billion valuation with an October offering. Throw in the $1.25 billion valuation achieved by cybersecurity provider Carbon Black in May and the $500 million figure established by ARMO Biosciences in January, and that's over $13 billion in combined US IPO value across just five offerings.
The numbers get even bigger when you cross the Pacific Ocean. Sequoia was an investor in several Chinese companies that conducted IPOs this year, including Meituan-Dianping and Pinduoduo, which had reported initial valuations of $53 billion and $23.8 billion, respectively. And what about non-IPO exits? Microsoft bought the Sequoia-backed GitHub for $7.5 billion earlier this year, while bike-rental provider Mobike sold for $2.7 billion, to give two high-profile examples.
Add it all up, and it's nearly $100 billion in exit value. The fact that another Sequoia portfolio company from Utah is about to add to the tally is one of six big things to know from the past week in VC: