Both Sides of the Table

JULY 22, 2010

Back in 1999 when I first raised venture capital I had zero knowledge of what a fair term sheet looked like or how to value my company. Due to competitive markets we ended up with a pretty good term sheet until we needed to raise money in April 2001 and then we got completely screwed. I turned them down. They were nonplussed.

Valuation 405

Valuation Liquidation Preference Pre-Money Valuation Term Sheet 405

Both Sides of the Table

FEBRUARY 25, 2010

When I was raising money for my first company we had closed a seed round in 1999 and were working on our A round. We had many term sheets (it was 1999 and we had a pulse) and we were deciding which one to take. million at a $15 million pre-money valuation. It was December 1999. Yes, this was stupid.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

David Teten

SEPTEMBER 16, 2014

In 2013, 298,800 angels invested in 70,730 entrepreneurial ventures, according to the 2013 Angel Market Analysis by the Center for Venture Research at the University of New Hampshire. Source: Center for Venture Research – Angel Market Analysis Report. Sohl: “The Angel Investor Market in 2011: The Recovery Continues”.

Angel Investor 114

Angel Investor Technical Review Venture Capital Pre-Money Valuation 114

Agile VC

MAY 26, 2011

The market size for online advertising, e-commerce, and web premium services are 1/10th to 1/3rd the size they are today. To give you a sense, for 2002 the entire US online ad market was $6B and had shrunk year over year (it was $25B+ for 2010). It was a pretty good valuation for the time. It was a $4.7M link] leehower.

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

VC Cafe

JANUARY 20, 2014

Last year, the VC industry partied like its 1999. New data from research firm Pitchbook makes it official: valuations are at an all-time high. The bull market will celebrate its 5 th anniversary in March (NASDAQ grew 38.3% last year, more than any other major index), and the IPO market is booming. Bubble 2.0 $4.2

Venture Capital 155

Venture Capital Pre-Money Valuation IPO 155

Pascal's View

AUGUST 21, 2011

Welcome to the latest passionate debate over the ‘valuation bubble or not?’ 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. question in venture capital. It is intentional.

Valuation 50

Valuation Social Media Media IPO 50