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Most VCs passed on WhatsApp because it had no revenue. They were looking at the wrong spreadsheet.
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WhatsApp had 450 million users and 55 employees. That ratio told me everything I needed to know.
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I don’t invest in business models. I invest in products people love. The business model comes later.
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The best companies are built by engineers who hate the tools they’re forced to use and decide to build something better.