Congratulations to SolarCity, the most recent DFJ-backed company to receive our coveted Golden Frisbee. This gold-plated award is given to companies that achieve $1B or more in value creation. Twenty companies have achieved this honor since our inception in 1985. This year, we awarded SolarCity co-founders Lyndon and Peter Rive. As of today, SCTY has a market cap of more than $4B.
We have a Golden Frisbee on display in our office adorned with plaques for each company recognized with the honor.
SolarCity, founded in 2006, has grown to be one of the largest residential solar installers in the U.S., and entered the public market in December 2012. We first met the Rive brothers in 1999 and invested in their first company Everdream that year, which was acquired by Dell in 2007. The Rive brothers are cousins of Elon Musk; their mothers are twins. Read more about our history with the Rives here.
Congratulations to SolarCity, and welcome to the Ultimate Club!