AdMob: What Internet Bubble?
Jim Goetz of Sequoia Capital -- who joined AdMob's board and led its Series A round in September 2006 -- says the company was not overvalued and there is no Internet bubble. "It's way too early to talk about a bubble." On the contrary, he claims AdMob was worth more than the $750 million Google was willing to pay for it. How much more? He won't say, but after only three years, the company was at $100 million run rate in revenue and still had most of the cash it had raised. "That's one reason why we pushed for stock," Goetz said, "so there's a meaningful upside in AdMob's future." People have forgotten how long it took for an economy to develop for e-commerce, he said, and there's still a long way to go. But the biggest reason Goetz said he invested in AdMob
