How Uber Raised $37 million in a Pub During Web Summit

Apply to feature in Web Summit’s startup class of 2015

“The magic began basically after the conference was over, in the evening, when everyone goes to the pubs. It was truly magical”

Scott Stanford, co-founder of Sherpa Ventures & investor in Uber


Scott’s talking about Web Summit 2011, when he found himself chatting to Travis Kalanick – co-founder of “this little company called Uber” – after the day’s talks had finished and attendees flocked to Dublin’s pubs.

Uber had just 9,000 customers and were raising a Series B; Scott was co-head of internet investments for Goldman Sachs.

Scott and Travis talked at a table in a Dublin pub, discussing how Uber could go from “this small company” to the industry behemoth it is today. Within a day Scott had invested on behalf of Goldman Sachs in Uber’s $37 million Series B.

But it gets better and you’ll have to watch the video to learn why:

The round was led by Menlo Ventures, whose “rookie VC” Shervin Pishevar signed papers with Travis after a pint in one of Dublin’s landmark pubs, Bruxelles. Shervin and Travis signed a deal in the Shelbourne Hotel – just opposite St Stephen’s green where Travis and Scott and forged their partnership.

“We printed out the term sheets in the Shelbourne and signed them. It has turned into one of the most important investments of my life,” says Shervin.


A lot has happened since 2011

For Uber, for Shervin, Scott and for us at Web Summit.

We’ve grown from 400 attendees to over 20,000 in just four years, and are now the biggest tech conference in Europe.

In the 9 months since Web Summit 2014, 40 of our startup attendees have raised over $1 billion, and are now chasing down Uber-sized success.

We’d love to see you in Dublin and you can apply to be part of our class of 2015 here.

Related Articles

Web Summit to ring The NASDAQ Stock Market Opening Bell LIVE onstage in Dublin We're incredibly excited to announce that  the NASDAQ Opening Bell will be rung live onstage at the RDS during the Web S...
Irish Government announces €175 million seed fund for Ireland The Irish Government has just announced a €175 million seed fund for Ireland. Much of the money will be given to existin...
The Bubble in Tech, The Statistics & The Need For Questions in Ireland This article was originally published in the print edition of the Sunday Business Post, June 2, 2013. Please find additi...