Mike Isaac’s Super Pumped reports harsh terms Uber demanded when Google Ventures wanted to invest:
Google Ventures staff had to come to Uber’s headquarters to pitch, rather than Uber traveling to Google to solicit funds.
Google Ventures had to fund the entire round of investment, $250 million — the largest amount Google Ventures had ever invested in any company, with no prospect of sharing with other firms.
Google Ventures had to accept Uber’s valuation at $3.5 billion. (A larger valuation meant their investment would buy a smaller slice of the company.)
Google Ventures would not receive a voting seat on the board and would not receive regular, detailed information about Uber.
(pp. 133-134)