Yesterday, Crain’s reported on some eye-popping Tumblr numbers from PrivCo, suggesting VCs reaped huge rewards, including a 5,000 percent return of $253 million for Union Square Ventures, $154 million for Spark Capital, and $77 million for Spark partner Bijan Sabet.
Almost immediately, Bijan Sabet and Fred Wilson fired back, calling the report “garbage” and refuting the specifics (without coughing up what they actually made). Dan Primack (who’s tangled with PrivCo before) calls the report “a load of Yahoo.” He says USV and Spark actually put $13 million each into the company ($350,000 of it seed funding) and got around $192 million each. Not too shabby, but not the jackpot PrivCo alleges, either.
Well, this morning PrivCo responded to the critics, on Twitter, with all the rancor appropriate to the medium.
The Chat-rooming Classes Today, seemingly every tech reporter in the business tuned into Jason Calacanis‘s “This Week in Startups,” presumably in the hopes that Mr. Calacanis would tell all re: the allegations of abuse against Michael Arrington. But as familiar names chattered away in the chat room, Mr. Calacanis had little to say beyond comparing himself to Obi Wan. That would make Mr. Arrington Anakin Skywalker, of course; Mr. Calacanis said he taught him how to be powerful in media, and “I regret that.”
As for the allegations themselves, Mr. Calacanis was quick to say he wouldn’t be commenting on whether they were true, citing his lack of direct knowledge. (He did, however, openly discuss the time that Mr. Arrington called a PR honcho “the c-word,”
thereby outing someone who’d never mentioned the incident publicly!) [Correction: Mr. Calacanis first mentioned the incident and the PR exec (Brooke Hammerling) by name in the comments of his Facebook post, prompting Ms. Hammerling to confirm the story, also in a Facebook comment.] All in all, it sounds like he (kinda sorta) regrets getting involved. He apparently thought writing a Facebook note wouldn’t go very far. “I thought that that would be a place where it just lived there,” he said. (Paging Randi Zuckerberg!) “I got a little P.T. Barnum in me and I feel like me commenting on all this stuff actually detracts from it,” he added.
Last night, gangs of glammed-out New York techies and science enthusiasts trekked uptown to the Rose Center for Earth and Space to take in a stunningly optimistic program presented by Gizmodo and the American Museum of Natural History. The event was planned and hosted by Gawker Media founder Nick Denton (with the help of Brew PR), who appeared so eager about the “celebration of technology and discovery” that he tweeted about it numerous times prior to the event, published a grandiose blog post on Gizmodo reveling in the glorious achievements of science, and sent out an email to attendees: “This evening should be inspiring and fun,” he wrote.
“I’ve never seen Nick so excited for a social event,” one colleague remarked.
And who could begrudge Mr. Denton his excitement? The event was everything he claimed it would be–and perhaps more, depending on how many free cocktails you indulged in. Hosted by Ellen V. Futter, the president of the American Museum of Natural History, Foursquare founder Dennis Crowley and Mr. Denton himself, the gathering was as swank and inspiring as expected.