Benchmark is a venture capital firm based in San Francisco that has provided seed money to startups since 1995. The firm's most successful investment was a 1997 investment of $6.7 million in eBay for 22.1% of the company. In 2011, it invested $12 million for an 11% stake in Uber, worth $7 billion in 2019.
Since early 2011, Benchmark has had 37 exits, including 14 IPOs and 23 mergers and acquisitions, representing a total market value of more than $60 billion. By 2015, Benchmark’s eight funds had paid out $22.6 billion to investors, and its backers received a 1,000% gain net of fees over the prior decade.
The firm manages nearly $3 billion in committed capital and has been widely recognized for its commitment to the open-source.