Fund: Accel Partners
Posted by Kaiser Sose on 2008-10-31
I gagged with how many times the partners referred to Facebook and how Accel is responsible for their success. I have serious respect for the old guard at Accel, their reputation cannot be ignored. But the rookies here leave a lot to be desired. They offered little in the way of strategic insight, operational expertise but took a lot of credit for their entrepreneurs accomplishments and professed a lot of knowledge they didnt actually have.
Due diligence revealed that the Facebook people view Accel as purely a source of money, and take pride in the fact that Accel has no power in the company. Apparently they kept control of the company via the Founders Fund. More than one reference has said that Accel LOVES to replace entrepreneurs with their own CEOs to assume control of their portfolio.PRIVATE: Members Only (430 Characters)