$15m preferred at $135m pre-money, firmed in late Fall 2000, from discussions begun on the BP trip. What happened to it is an open ask; what happened instead is source record S-023.
This is Jonathan Hare's account, with its provenance shown. The person or organization named has not yet claimed or corrected it.
The venture unit of Société Générale — the French financial institution whose US arm was SG Cowen — was the first of the circling term sheets to firm up: a committed $15 million Preferred Equity financing at a $135 million pre-money valuation for Consilient, in late Fall 2000. Discussions began during the September London trip for BP and continued as Jonathan Hare toured Europe's enterprise customers and financial institutions on the back of the revenue momentum: Intel, AIG, Cisco, the $10 million BP pipeline, partnerships in motion with CommerceOne, Ariba, SAP, Siebel, PeopleSoft, Oracle, ABB and General Electric. The introduction came through Sheena Singh's Paris circle — Hare's email archive is the open ask on exactly whom. Within a year, the financing environment this term sheet belonged to no longer existed, and the company's cap-table story became the one recorded in S-023: a $15 million valuation on a predatory note, blocked. The two numbers, $135 million and $15 million, are the bubble measured on one company.
There is no single root. This is one view of the graph, from this node — what you see depends on where you enter and what you are looking for.
The Paris friend whose circle produced the Société Générale introduction — and the sabbatical's social center of gravity
Open →discussions began on the trip toA $10m lead investment in crowdsourced solutions — in 2001
Open →Everything above is a distillation. The primary source is published in full, so that any claim on this page can be walked back to what was actually said — and where the two differ, the source governs.
The account this page was distilled from, preserved as dictated.
Read the source →Primary source · S-073The account this page was distilled from, preserved as dictated.
Read the source →This entry is deliberately incomplete. The gaps below are the things only certain people can settle — and settling one is a contribution like any other: recorded, timestamped and attributed to whoever made it.
Correct anything wrong, add what only you know, or claim this entry as your own. Write to evidence@qpncatalyst.io and Jonathan directly (both are on the button) — a timestamped confirmation comes back with your submission attached, as your own independent record. No account, no permission, no institutional standing required.
Public contributions earn Publicity Premium; bringing others who were there earns Cascade Premium. Everything is valued retrospectively as outcomes verify, so nothing has to be priced up front.
Correct this entry → Add a story, photo or link → Browse the graph →