WHAT HAPPENED
Andreessen Horowitz and Menlo Ventures are poised to turn investments made less than two years ago into payouts worth nearly $2 billion combined if Stripe acquires the AI model marketplace for more than $8 billion, according to people familiar with the matter. OpenRouter’s cofounder and CEO is Alex Atallah, who also co-founded OpenSea, the crypto token trading marketplace, once valued at over $13 billion. A16z, whose investment was led by former general partner Anjney Midha, owns more than 17% of OpenRouter, according to people familiar with the matter. The firm spent around just $20 million to get this stake, having first invested in the seed round last year. Menlo Ventures, led by partner Matt Murphy, invested in the Series A shortly thereafter, amassing a stake of more than 6%, the people said.
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