article thumbnail

Capital Market Climate Change

Ben's Blog

You probably thought that valuations would be roughly the same as they were the last time you raised money. One would be wrong: 3/31/1995: 21.0. And those are big companies with real earnings, so you can imagine how a private company’s valuation might fluctuate. In June of 2000, I raised money at an $820M post-money valuation.

article thumbnail

Capital Market Climate Change

Ben's Blog

You probably thought that valuations would be roughly the same as they were the last time you raised money. One would be wrong: 3/31/1995: 21.0 One would be wrong: 3/31/1995: 21.0 And those are big companies with real earnings, so you can imagine how a private company’s valuation might fluctuate. Yes, we did a down round.