Advertisement
YOU ARE HERE: LAT HomeCollectionsBusiness
(Page 2 of 2)

Ex-Facebook insiders building next wave of Silicon Valley firms

An elite group of Facebook friends, most still in their 20s, have already helped change the world. Now they're working together to do it again.

April 06, 2012|By Jessica Guynn, Los Angeles Times

D'Angelo and Cheever decided they could do better, so they started work on Quora in 2009. They rented cramped offices over an art supply store in an old building in Palo Alto, hired programming and design prodigies, and got experts to weigh in with thoughtful, authoritative answers to hundreds of thousands of questions.

Traffic grew quickly as Quora won over fans with answers that were not only smart but entertaining:

"What's the best way to escape the police in a high-speed car chase?" A former Missouri police officer responded that it's easy if you pick a jurisdiction where authorities are bound by strict pursuit guidelines to avoid liability.

"If you injure a bug, should you kill it or let it live?" An entomologist responded that insects don't feel pain the way that vertebrates do, so there's no need to put them out of their misery.

Quora landed $11 million in funding and an $86-million valuation via Benchmark Capital's Cohler and now has 33 employees.

Like others in the Facebook network, D'Angelo and Cheever seem to read each other's thoughts and finish each other's sentences. The depth of these friendships is unusual even in Silicon Valley. These Facebook pals don't just call on one another for money and advice, start companies together and sit on each other's boards. They also hook up to celebrate life's big moments.

Ruchi Sanghvi was Facebook's first female engineer and one of the first 10 hired at the company. She and her husband, Aditya Agarwal, were Carnegie Mellon graduates who came to Facebook as a couple in 2004. In 2010 when they wed on a beach in Goa, India, dozens of their Facebook friends joined them for a weeklong family celebration. Among them was Facebook CEO Mark Zuckerberg in a long silk sherwani jacket.

"With this network, you are never lonely," said Sanghvi, who with Agarwal last month sold their start-up Cove to San Francisco's Dropbox. "It's not just a work fabric. It's our life fabric."

Each winter a couple of dozen of them pile into a house at a Colorado ski resort that belongs to the family of Facebook executive Sam Lessin. This snowy retreat hundreds of miles from Silicon Valley is the gathering place for the "Lothlorien Life Conference," or LLC for short. Named after the forest realm in "The Lord of the Rings," LLC is the event no one misses, a time for friends to slice down the mountain and swap advice.

That's where Morin, 31, decided to turn down a $125-million offer fromGoogle Inc.for Path. It was 2010, and he had just launched Path and didn't want to sell it, nor did he want to help Google take on Facebook. But he was under pressure from investors and employees.

Morin huddled in a quiet corner of the living room with Moskovitz and Founders Fund's Brian Singerman, both investors in Path. They talked late into the night and all the next day. Moskovitz reminded Morin about how Zuckerberg wrestled with the $1-billion buyout offer fromYahoo Inc.in the early days of Facebook.

"I told Dave he simply didn't need to do it and, even if he subsequently failed, that would be OK," Moskovitz said. "After that it was clear that a huge weight had been lifted."

Morin said he couldn't get by without that kind of help from his friends. Path has raised a new round of funding that values the company at $250 million, and it has more than 2 million users, including Britney Spears.

"We built Facebook, and it's ingrained in how we think. I think in networks now," Morin said. "It would be hard for me to think any other way."

No one in the Facebook network has any intention of cashing in his or her chips any time soon, Colleran said. Facebook's employee No. 7 left the company in July. He just signed on to a new gig as a venture partner with General Catalyst Partners in Boston.

"I believe after Asana, after Path, after Quora, there will be another company, and then another one, and another one," Colleran said.

"If we are all going to be hanging out anyway, why not be productive and change the world? It's a whole lot better than sitting around and saying, 'Remember that time at Facebook?' We're all way too young for that."

jessica.guynn@latimes.com

Advertisement
Los Angeles Times Articles
|
|
|