Prologue

Big update today... We're launching Prologue, which is a new type of tech holding company. As part of this—we closed $23M in funding from Andreessen Horowitz and Sequoia Capital. Our two starting brands include Product Hunt and Hyper, with plans for more in the future. As a sign of big things to come, this the first time Sequoia and A16Z have come to together to co-invest in a structure like this. The idea of Prologue originated from a conversation between Ashley Higgins, Josh Buckley, and myself where we realized: 1) Capital is abundant In 2021 alone, $621 billion was invested in startups globally, setting an all time record. But... 2) It's difficult for startups to rise above the noise It’s harder than ever for startups to break through and rapidly scale customer acquisition. What was once breaking news is now lost in a Twitter timeline. It's clear a new solution is needed... 3) Further, Silicon Valley is rapidly decentralizing Of the more than 900 unicorns that exist today, nearly 50% come from outside the US. American investors aren't paying enough attention to these regions. Let's walk through how Prologue starts to address this. 1. Hyper is a $60MM early-stage venture firm that focuses on funding a small group of high-quality founders a few times a year with its program. Hyper's program helps companies "stage up." From forming your early team, finding your 100 true fans, to scaling growth. Next: 2. Product Hunt is a millions-strong global community for early-stage entrepreneurs, making it the perfect place for us to identify, fund, and amplify anomalous talent. Over $100B in startup value has been launched on Product Hunt since its start in 2013. Tie these together, and you see how can materially help founders with their distribution. This is just the start. As we add more brands, it strengthens the flywheel—resulting in stronger distribution and an increasingly powerful business model. This comes full circle for me. When I co-founded Loom, I saw first hand what quality distribution could do to a great early product. We launched on Product Hunt in June 2016 and within 24 hrs had over 3,000 people signed up and using the product. Having Hyper and Product Hunt operate within this new parent company gives us strong competitive advantages to identify and fund the best founders, provide them with high-quality distribution, and a world-class tech community. Read more about our plans with Prologue here: https://lnkd.in/gs4emiWt