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Groupon's S-1: From Zero to Like? Billions in 30 Months ? AGILEVC

Agile VC

How They Make Money: Groupon keeps a share of the coupon value (typically 40-50%) as its net revenue (1). in net revenue and passes $0.58 2010 Net Income: -$389M (net loss) (2). Financial Snapshot: 2010 Revenue: $713M. Run Rate Revenue: $2.6B (Q1 2011 annualized). 2010 Gross Profit: $280M. to the merchant.

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Why Companies are Not Startups

Steve Blank

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. KPI’s and processes are the root cause of corporations’ inability to be agile and responsive innovators.

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Technology, Innovation, and Modern War – Class 14 – Planning– Major General Mike Fenzel

Steve Blank

The purple box in the middle is where the Joint Chiefs of Staff – and General Fenzel’s group — help develop the National Military Strategy (NMS), Joint Strategic Campaign Plan (JSCP), Joint Military Net Assessment (JMNA) and the Capstone Concept for Joint Operations (CCJO). But we can be more thoughtful about how we knit these together.

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Hacking for Defense @ Stanford – Making the World a Safer Place

Steve Blank

Today these potential adversaries are able to harness the power of social networks, encryption, GPS, low-cost drones, 3D printers, simpler design and manufacturing processes, agile and lean methodologies, ubiquitous Internet and smartphones. Terrorists today live on the ‘net and they are all early adopters.

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Intel Disrupted: Why large companies find it difficult to innovate, and what they can do about it

Steve Blank

As a consequence, corporations used metrics like return on net assets (RONA), return on capital deployed, and internal rate of return (IRR) to measure efficiency. Capital is returned to these investors through liquidity events (originally public offerings, but today mostly acquisitions). Startups are unencumbered by the status quo.

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Cliff Notes S-1: Kayak ? AGILEVC

Agile VC

Now that Google’s acquisition of ITA is closed, following lenghty FTC review, it would appear Kayak is poised to proceed with their IPO in the coming months. =. paying for travel data from ITA or others (customers acquisition spend is not included in COGS). 2010 Net Income: $8 million. Kayak Software Corporation.

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When Does Zynga Become a Value Stock?

Agile VC

The “value” case goes like this: A) Valuation Net of Cash – Zynga’s market cap sits at around $2.2-2.3B B) Zynga’s Solidly Profitable – Yes, on a net income basis Zynga has been unprofitable the last 3 quarters though they did post net profit before they went public. as of this post.

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