Headquartered in Palo Alto, California, the company initially struggled to find investors. According to Karp, Sequoia Capital chairman Michael Moritz doodled through an entire meeting, and a Kleiner Perkins executive lectured the founders about the inevitable failure of their company.[20] The only early investments were $2 million from the U.S. Central Intelligence Agency's venture capital arm In-Q-Tel, and $30 million from Thiel himself and his venture capital firm, Founders Fund.[7][8][21][22][23]