It seems like everyone wants to get their hands on David Dobrik's new photo app Dispo — investors included.

Days after launching a beta version of the platform, the Los Angeles startup was also in talks with investors including Andressen Horowitz, Sequoia Capital and Benchmark to raise a Series A round likely to value Dispo at $100 million, if not more, a source familiar with the talks confirmed. The news was first reported by The Information.

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On this week's episode of Office Hours, you'll hear from VC legend Bill Gurley, a general partner at Benchmark. Based in Silicon Valley, Bill is famously known for investing early in trailblazing companies including Uber, GrubHub and Zillow — the company I co-founded and led for 10 years.

This is the first time I've had a guest on twice, and that's because Bill is so full of dense, rich insight when it comes to startup culture, tech and investing — dot.LA's sweet spot.

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The legendary Silicon Valley investor Bill Gurley thinks Los Angeles tech founders should be more focused on growing their business over the long term instead of selling to larger competitors too quickly.

"I think [they've] historically been a little too transactional, which I blame on Hollywood," Gurley said, speaking in a keynote session on the second day of the dot.LA Summit. "You tended to have more M&A outcomes than IPOs."

dot.LA Summit -- Bill Gurley & Spencer Rascoff www.youtube.com


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