Feld Thoughts

AUGUST 25, 2015

JMB Realty: Real Estate Management company. For many years preceding 1999, the 1982 vintage was known as the industry’s worst vintage year. There are five key risks in any deal: Market, Product (a/k/a technology), Management, Business Model, and Capital. Michigan Cottage Cheese: Yoplait Yogurt. Taking all five at once is crazy.

Venture Capital 70

Venture Capital SBIC Technical Review Silicon Valley 70

Growthink Blog

NOVEMBER 8, 2010

Try these statistics on for size, from 1999 to today Asia’s share of the world’s Initial Public Offerings grew from 12% to 66%. In that same time frame, United States IPO volume declined 75% in real terms and now accounts for less than 11% of the global total. 7 Companies in China have raised more than $1 billion in an IPO this year.

Africa 104

Africa Brazil China India 104

Agile VC

MAY 26, 2011

Google is still a private company (their IPO was Aug 2004). And obviously all the liq prefs went away in the IPO when pref stock converted to common. Btw, here’s our startup [link] We are bringing yield management to the restaurant industry. This is my 2nd time trying this, first time was in 1999.

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Diego Basch

JUNE 2, 2012

In the late nineties, internet IPOs were all the rage. Everyone wanted in on IPOs back then, because it was a given that you would multiply your money in a few days. One fine day in June of 1999 I was sitting at my desk, writing code, in the zone. The IPO price was set at $12, at the top of the range. A Killer IPO.

IPO 62

IPO Argentina Stock .Net 62

Hunter Walker

MARCH 16, 2023

companies; the Class of 1999 had founded the bad Internet 1.0 Pivot to the right with a few years of management consulting and use Powerpoint on cross country flights to make stop motion animations. Over the previous years you could spend 12–24 month at a startup and become an IPO millionaire. Is it sustainable?

Stock 74

Stock IPO Database Internet 74

Steve Blank

APRIL 10, 2019

In the 20 th century, the best companies IPO’d in 6-8 years from startup (and in the Dot-Com bubble of 1996-1999 that could be as short as 2-3 years.) Startup Compensation Changes with Growth Capital – 12 Years to an IPO. Of the four startups I was in that went public, it took as long as six years and as short as three.

Stock Options 333

Stock Options Stock Vesting Common Stock 333

Feld Thoughts

JUNE 19, 2014

How should one manage their own emotions and their own perspectives post failure? In the late 1990s, what looked like my biggest success at the time, went public, peaked at an almost $3 billion market cap, and then went bankrupt three years after the IPO. As the cliche goes, I learned a lot from these failures.

IPO 195

IPO Technology Community Software 195

Both Sides of the Table

SEPTEMBER 6, 2010

I freely admit this (along with nearly everything between 1999-2000) was a mistake. We set our sites on our IPO price and then worked back to our current valuation and showed potential employees what we thought they could earn (with all legal caveats) if the company was successful. I think they believed it, too.

Stock Options 294

Stock Options Stock Valuation Liquidation Preference 294

David Teten

APRIL 16, 2012

Although we are open to various configurations of 2-5 people, we envision a team built around: a CEO, reporting directly to the Board; a Product Manager to harden the vision; and an Engineer to make the magic. You must have 5 years experience directly managing a team. You must have a strong product management pedigree.

Cofounder 133

Cofounder New York Venture Capital B2C 133

ReadWriteStart

APRIL 26, 2012

This from a man who knows from having made bigger investments that are smaller : Duncan Davidson, Managing Director of Menlo Park-based Bullpen Capital. There used to be the Four Horsemen of the IPO world, back in the '80s and '90s. When they exited the scene, the small IPO market followed suit. Number of U.S.

IPO 115

IPO Stock San Francisco Lean 115

Startup Lessons Learned

SEPTEMBER 8, 2008

I was building a new startup in 1999, and wanted to do it right. So did I when I finally found myself building an app with real scalability, a few years later, but a combination of our just-in-time scalability technique and great open source scaling tools, made it manageable. Were in a new wave of platform evolution.

San Francisco 68

San Francisco Technology Continuous Deployment Lean 68

View from Seed

JUNE 17, 2015

My first startup job was as an early employee at PayPal, where I took a job at the end of ‘1999 and started a few months later in 2000. I started off as a product manager and while I never actually slept over at the office, there were frequently late nights. When we started LinkedIn , it was a similar situation.

Startup 120

Startup Cofounder Seed Stage IPO 120

Austin Startup

JULY 23, 2010

Having been founded in 1999, Zilliant is hard to categorize as a startup anymore. The company creates the leading software in an enterprise niche called pricing optimization and margin management. The company could be preparing for an IPO. Most people don’t really think of pricing as an elastic thing.

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

Both Sides of the Table

SEPTEMBER 13, 2009

So many companies suck at managing their booths. million … yes that was seed in 1999!) There was talk of an IPO in 12 months. Worth a read on how to maximize the traffic that comes to you site since much of it will be fleeting. If you go to trade shows make sure to read this post. Goldman release a report on us.

South Africa 310

South Africa Europe Disintermediation Poland 310

Up and Running

APRIL 4, 2014

The 1999 Macy’s Thanksgiving Day Parade even featured a balloon created in its image. In a move that can be described as gross negligence, Hummer Winblad didn’t bother to do any independent market research in its push for an IPO. But over the course of the Edsel’s three-year run, Ford only managed to unload 118,000 of them.

Sales 126

Sales IPO Texas Advertising 126

Pascal's View

AUGUST 21, 2011

This time, the debate centers on the “favored few” Social Media venture backed companies that have brought tremendous windfalls to a select group of venture funds and management teams, both pre- and post-IPO. For me Bubble will always be inexorably linked to what went down in 1999 and 2000 in the internet sector.

Valuation 50

Valuation Social Media Media IPO 50

Feld Thoughts

FEBRUARY 28, 2023

In addition, there are the managing directors as executive bodies. In the VC sector, it is common to introduce a third body in addition to the shareholders’ meeting and the management. IPO issues: Possibly the biggest problem for German venture-backed companies is the very low number of IPOs in Germany.

Germany 165

Germany Liquidation Preference Option Pool Advisory Board 165

Startup Lessons Learned

MAY 14, 2009

I joined a financial services tech startup in 1999. ► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. Amazing lean startup resources Is Entrepreneurship a Management Science?

Lean 60

Lean San Francisco Continuous Deployment Software Review 60

Lightspeed Venture Partners

MAY 5, 2016

Over the years we’ve had the privilege of working with amazing founders and helping them grow from infancy to IPO or acquisition in many cases. Prior to joining Russell Reynolds Associates, Brian worked at Salomon Brothers, Lehman Brothers and Thomas Weisel Partners, where he joined at the firm’s inception in early 1999.

Silicon Valley 60

Silicon Valley Advisory Board Flash Pennsylvania 60

Seeing Both Sides

AUGUST 3, 2012

Interestingly, the company’s founding vision was not a lean idea, but rather a big idea: to accelerate and manage Internet traffic on a global, highly scalable, highly distributed scale. The first year of revenue (1999) was $4 million – a remarkable achievement. How did Akamai do it? . . Founding Akamai. Gross Profit. $(60).

Distribution 49

Distribution Lean Massachusetts Cofounder 49

Startup Lessons Learned

JULY 9, 2009

In the summer of 1999, I started working on a startup from my college dorm. Id been on the internet since I was playing MUDs as a kid, but by 1999 I felt Id already missed the boat. You can even see the humiliating evidence of my smug incompetence in this absurd article from 1999.) I pretty much missed all the trends.

San Francisco 94

San Francisco Lean Continuous Deployment DC 94

David Teten

MARCH 2, 2013

An article on the New Enterprise Associates blog by Partner Tom Grossi , however, makes an interesting point: most of the megafunds were raised since 1999, a period in which the entire industry did poorly. Counting IPOs gets us only a short distance to an Answer. This is a difficult question to study.”.

LP 114

LP Securities and Exchange Commission Silicon Valley Venture Capital 114

Both Sides of the Table

MAY 23, 2012

For starters we saw a huge influx of inexperienced managers enter the VC industry proving clearly that being a VC is not a purely quantitative job. IPO markets had burned an entire cycle of retail stock investors and many institutional investors to boot. Just why does over-funding dampen returns? The Exit Problem.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

Both Sides of the Table

SEPTEMBER 2, 2009

The VCs basically have liquidity in management fees along the way, in the sense they get paid decently along the way. At some point, this breaks if their isn’t an exit or IPO. But the day after you’ll wake up and see yourself more as a manager than an owner. VC’s have diversification and management fees.

Founder 329

Founder Liquidation Preference Term Sheet Participating Preferred 329

abovethecrowd.com

APRIL 20, 2016

The pressures of lofty paper valuations, massive burn rates (and the subsequent need for more cash), and unprecedented low levels of IPOs and M&A, have created a complex and unique circumstance which many Unicorn CEOs and investors are ill-prepared to navigate. If 1999 was a wet (read liquid) bubble, 2015 was a particularly dry one.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Seeing Both Sides

MAY 26, 2009

Amid the hoopla a few weeks ago at the annual NVCA meeting, where the focus was rightly on improving liquidity, it was barely noticed that a new chairman was elected – Polaris co-founder and managing general partner Terry McGuire, one of the leading life sciences investors in the industry.  3)      Life sciences.

Private Equity 20

Private Equity Boston Massachusetts IPO 20

online.wsj.com

JULY 11, 2012

As a registered user of The Wall Street Journal Online, you will be able to: Setup and manage your portfolio. Receive and manage newsletters. ignited the current trend by adopting a dual-class voting structure before its IPO in 2004. that did so in 1999 and 2000, according to an analysis for The Wall Street Journal by Jay R.

Silicon Valley 42

Silicon Valley Founder Software Review Technical Review 42

The Equity Kicker

JANUARY 19, 2016

The papers are full of stories about IPOs and big exits and it seems like every private company is able to raise money, even the ones that have obvious flaws. I’ve seen that happen to angels, entrepreneurs, and corporate VCs. Moreover, even experienced and successful venture capitalists are investing in companies that look stupid.

Europe 60

Europe IPO LP Venture Capital 60

Ben's Blog

MAY 24, 2021

Editor’s Note: This testimony was delivered by a16z managing partner Scott Kupor to the U.S. IPO market. By way of background, I am the Managing Partner for Andreessen Horowitz, a $16.5 Second, the characteristics of IPO candidates have changed: fewer small companies are making it to the public markets.

SEC 36

SEC Accredited Investor IPO Technical Review 36

Seeing Both Sides

SEPTEMBER 15, 2015

In 2014, for example, 18 IPOs raised a record-breaking $9.8 to build the satellite office and to personally oversee the recruitment and management of American executives who can lead the sales and marketing efforts. and have gained management experience at large organizations such as Google, Microsoft, and Amazon.

Cofounder 20

Cofounder Technical Review United States 20

Scalable Startup

FEBRUARY 1, 2013

It’s called Enterprise Performance Management, which is kind of a weird term. That’s a really big deal, because that category of software, line managers and businesses have never actually used that software themselves. Actually — we have another one actually that is — well, it sounds esoteric, but it actually is very relevant.

Software Review 22

Software Review Startup Venture Capital Stock 22

Both Sides of the Table

AUGUST 30, 2010

While not 1999 all over again but I am observing first-hand the signs of funding frenzy. This affects M&A activities for startups, which with the reduction of the IPO market could spell lower returns in the short-term for technology startup investors. VCs get paid to “put money to work.&#. I know not everybody agrees.

Entrepreneur 298

Entrepreneur Technical Review Balance Sheet Government 298

Agile VC

MAY 7, 2014

I believe this may be the most anticipated tech IPO of all time… some may argue Facebook was a bigger deal, but Alibaba’s offering has been “in process” for a long time and may very well be the largest IPO ever both in terms of size of offering and initial market cap of the company.

China 187

China B2B Flash IPO 187

abovethecrowd.com

JUNE 2, 2021

On March 26, SoFi announced that “it will be offering its members (at least those with $3K in their account) the ability to invest in IPOs for companies going public, an investment opportunity that has traditionally been reserved for large institutional investors or ultra-high-net-worth individuals.”

IPO 82

IPO Customer Matching Silicon Valley 82

Both Sides of the Table

DECEMBER 9, 2010

When I started my first company in 1999 we spent more than $2 million on technology infrastructure including Sun servers & Solaris operating system, Oracle databases, EMC storage, load balancers, app servers, back-up devices, disk mirrors and on and on. They deal with energy management, security, physical device failures, etc.

Cloud 343

Cloud Technical Review Database Semantic 343

VC Cafe

MAY 21, 2021

This is a guest post by Kevin Baxpehler , co-founder and Managing Partner at Remagine Ventures. We at Remagine Ventures completed a new investment deal, continued working with our portfolio companies and in general saw IPOs, startups fundraising and succeeding at unprecedented levels. Photo Credit: AFP.

Iran 148

Iran Cofounder Germany 148