20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

2794.483 - 2813.08 Imran Khan

Because all these investors were concerned that, hey, we bought the Facebook shares. Facebook went public. I have six months lockup, and the stock went down 40%. I don't want that situation. We looked at Alibaba. I said that, listen, this is going to be a $25 billion transaction. And the amount we are raising, let's say $8 billion transaction, $4 billion is dead. So that's not a problem.