Pear-ing up with Gfycat!

Last Friday, the Western Hemisphere experienced the rare occurrence of a so-called “black moon” — the second new moon in a single calendar month. Maybe it’s just coincidence, but my partners and I had a similarly rare — but far more interesting and compelling! — experience last month, too. Namely, the kind of moment we in the venture world live for: meeting a founder who completely lifts your day.

The rare instances when it happens can’t be reduced to a checklist of attributes (much as it would make our jobs easier) or a small set of criteria. The best description of those select few founders is that they are the outliers, the ones who are authentic, with an insatiable drive, who will confidently tell you what the future holds, yet plan for every eventuality. But the experience of connecting with that rare breed is unmistakable. Sometimes, you just know.

That is what happened when we met Richard Rabbat, the CEO of Gfycat. We fell in love with him.

Really, we did.

In part, we were just plain impressed. Richard has built Gfycat from zero to the 60th site in the U.S. in just eighteen months, and he has done so with a shoestring budget. Gfycat boasts outstanding numbers: 350 million page views a month, 75 million monthly actives and over 25 million pieces of content.

But beyond the numbers and the slope of Gfycat’s growth curve, there’s Richard. Again and again, he’s displayed that killer combination of intelligence and grit. He came to the U.S. from Lebanon, earning a PhD in Communications Networks from MIT.

Richards journey to MIT was no easy feat, as he had originally intended to be at MIT as an undergrad. However, this opportunity was circumvented by the civil war in Lebanon, as the boat carrying his SAT scores sank and never reached the school in time for him to be admitted. Thankfully, years later, Richard came back to MIT as a visiting scholar, and was able to join the graduate program!

Richard earned multiple awards at MIT and continued to charge ahead, first at Google and then Zynga, rising rapidly through the ranks at both companies. That hunger — the drive to keep going, to disregard the accolades and one’s own achievements and press onward — grabbed our attention. It became obvious that Richard is a scrappy leader. When he hosted us in the Gfycat office, a very spartan space hidden behind Castro Street in Mountain View, we saw things first-hand: there were no freebies, no ping-pong tables and not even art or decorations. What the office lacked in amenities, it more than made up for in the palpable enthusiasm and camaraderie of the Gfycat team.

During our in-depth discussion with Richard, it was clear that he possesses a clear view of the future and how his company fits in the world. When we pushed him to pose questions to us rather than just talk to us, there was a moment of slight quavering. But whatever initial hesitation we thought we perceived was just a momentary prelude to a remarkable moment: after providing a polite and full explanation of the reasoning behind his approach at Gfycat, Richard turned the tables on us, picking our brains on potential pitfalls and what we thought could go wrong.

As our discussions with Richard continued, we took him to Persian food and enjoyed getting to know each other as people. We talked about our neighborhoods, our kids, our families, the world at large, and the future. It became clear to us that in addition to his intelligence and drive, there was an even more important facet to Richard: his character. He is kind and cares about others, and he he shares our values, ones that transcend — yet also undergird — mere business success.

What really sealed the deal was seeing Richard’s approach up close. He is thoughtful and does not make decisions lightly. Before accepting our offer for investment, he did thorough diligence on us — not only taking the time to get to know us as people, but also contacting and then talking to many of the other founders we have partnered with, as well as with other people who know us well. Richard understood that we are in it for the long-haul and that the decision to accept our investment was not just about money but even more about an entering into a relationship — an ongoing and long-lasting partnership.

We are thrilled to be investors in Gfycat. But much more than that, we are delighted to be colleagues with Richard, working side-by-side as he builds the next phase of Gfycat.