There’s a report floating around claiming that early Tumblr investor Union Square Ventures (USV) netted a 5,000X return when Yahoo paid $1.1 billion for the social-blogging site.
The same report, which comes from PrivCo, an private firm that reports on statups, claims to have exacting details about how much each employee made on the deal.
USV partner Fred Wilson has responded to the report on Hacker News, saying, “Total garbage. There is not one fact in this privco thing that is close to right. The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.”
Early Tumblr backer Bijan Sabet is also knocking down the report on Twitter saying, “that article and the corresponding privco report is complete garbage and incorrect.”
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