Bill Gurley, partner at Benchmark Capital, leveled a number of serious charges at a ballroom full of New Yorkers this week–the city has yet to produce an iconic venture-backed company, he said. And, he added, people here are more likely to sell early rather than create a true home-run for a venture firm via an IPO.
Out of the 50 venture-backed companies that raised the most money via sales or IPOs over the years, none were located in New York City and only five were based in the New York region–that is in New Jersey or Connecticut, according to data from Dow Jones VentureSource.
To read the full, original article click on this link: NYC Needs More Iconic Companies, Fewer Early Exits, VC Says - Venture Capital Dispatch - WSJ
