Feld Thoughts

FEBRUARY 9, 2016

I started investing in 1994 and while there was some bumpiness in 1997 and again in 1999, the real pain happened between 2000 and 2005. I suffered through the next financing after implementing a complex structure, or a sale of the company, or a liquidation. But, as you raise more money at higher valuations, this will normalize.

Cap Table 70

Cap Table Down Round Liquidation Preference Founder 70

thebarefootvc

DECEMBER 16, 2011

Discovery, in contrast to search, took center stage as Pinterest displayed hockey stick growth (and raised VC money near a $200M valuation in late 2011). Disruption in the Education Space: When I first started looking at education technology investments in 1999, very few VCs would go near the sector. And Beyond….

Technical Review 110

Technical Review India Mobile Hockey Stick 110

Start Up Blog

AUGUST 25, 2013

They made a trade sale in late 1999. When asked how one should value a company that doesn’t make any – he said the ‘Cisco Valuation Model’ is best. Valuation is a funny thing: You’ll get 12 different answers from 12 different investors. Though he had a successful exit from it.

Australia 80

Australia Startup Valuation Cofounder 80

Mike Michalowicz

FEBRUARY 14, 2019

Another great, possibly business-saving tip, from Charlie is when working on your budget, your total Occupancy costs should be no more than 8% of gross sales. So, whether you bring in $15,000 a week or $25,000 a week in sales, you make it work because there is no other option. But, in the end, the restaurateur makes it work.

Boston 120

Boston New York Hosting Cost 120

finance.fortune.cnn.com

AUGUST 21, 2012

The information is based on part of a confidential year-end 2011 investment report distributed to investors in a fund-of-funds that made commitments between 1999 and 2001. Overall, the fund-of-funds is 97% called for 45 funds raised between 1999 and 2002. Accel Partners VII (1999): 89% (74%). Sales jobs. Job Search.

Naming 49

Naming Term Sheet Private Equity Equity 49

Austin Startup

JULY 23, 2010

Having been founded in 1999, Zilliant is hard to categorize as a startup anymore. But even Walmart (the epitome of brick and mortar) changes prices on some items daily, based upon sales and competitive intelligence. The company creates the leading software in an enterprise niche called pricing optimization and margin management.

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

thebarefootvc

AUGUST 26, 2015

I’ve seen several cycles in the market since I first started venture investing in 1999, and I believe there has been no greater potential for wealth creation in the sector than there is now. As someone who invested through the 2001 and 2008 crashes I can assure you that down rounds and fire sales are not fun for anyone involved.

Marketing 40

Marketing Investment Bankers Valuation China 40

thebarefootvc

AUGUST 26, 2015

I’ve seen several cycles in the market since I first started venture investing in 1999, and I believe there has been no greater potential for wealth creation in the sector than there is now. As someone who invested through the 2001 and 2008 crashes I can assure you that down rounds and fire sales are not fun for anyone involved.

Marketing 40

Marketing Investment Bankers Valuation China 40

thebarefootvc

JULY 26, 2015

I’ve seen several cycles in the market since I first started venture investing in 1999, and I believe there has been no greater potential for wealth creation in the sector than there is now. As someone who invested through the 2001 and 2008 crashes I can assure you that down rounds and fire sales are not fun for anyone involved.

Marketing 40

Marketing Investment Bankers Valuation China 40

Hearpreneur

JANUARY 29, 2018

Since 1999 I have worked in every aspect of the import/export arena gaining extensive experience with various trade relations and regulations, utilizing my vast knowledge and experience in sales, marketing, and strategic networking. My personal and cultural understanding and my skills within sales and deal-making.

Global 53

Global India Networking Cofounder 53

Both Sides of the Table

MAY 23, 2012

Yes, it’s true that FOMO (fear of missing out) is driving some irrational behavior and valuations amongst uber competitive deals and well-financed VCs. In 1998 it was 150 million, 1999 250 million and by 2000 it had crossed 350 million. Bottom of the sales funnel. There are 20x more consumers online. Morning in VC.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

Both Sides of the Table

OCTOBER 15, 2009

M y company had raised a seed round of capital in late 1999 even before either of us were full time in the company (ominous side note: on the way to pitch our seed investor, Delta Partners, a man walking right in front of me died of a massive heart attack making me late to the meeting. I did all of the sales myself.

Founder 299

Founder Technical Review Startup Venture Capital 299

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. VC, sales, biz dev, M&A or otherwise.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

ReadWriteStart

AUGUST 26, 2022

The startup didn’t work out, but I found ways to be around it, whether it was on the sales side in Goldman for a few years. That’s a valuation number and pricing number. I never had to focus on building a sales team. Now I’m going to amass A killer sales force with a CRO of XYZ background. Sounds great.

Partner 132

Partner Cofounder Retention Acquisition 132

Seeing Both Sides

AUGUST 3, 2012

They didn’t raise their Series B until they proved some of the initial hypotheses around market adoption and were ready to scale the sales efforts, as described below. The first year of revenue (1999) was $4 million – a remarkable achievement. Scaling Akamai – Part 1: A Little Fat. Gross Profit. $(60).

Distribution 49

Distribution Lean Massachusetts Cofounder 49

Austin Startup

FEBRUARY 24, 2019

I’ve also, of course, been spending a lot of time talking about this with our rapidly growing sales team at data.world. that the leaders in your sales prospects attend and read, you won’t know if you are passionate about that industry. Second, on that point of respect you need to create a sales-driven culture.

Software Review 48

Software Review Sales Cofounder Analytics 48

abovethecrowd.com

APRIL 20, 2016

One key to this population growth has been the remarkable ease of the Unicorn fundraising process: Pick a new valuation well above your last one, put together a presentation deck, solicit offers, and watch the hundreds of million of dollars flow into your bank account. If 1999 was a wet (read liquid) bubble, 2015 was a particularly dry one.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

betashop.com

OCTOBER 8, 2012

I’ve been founding and helping run technology companies since 1999. Don’t choose your investors based on valuation. That means if you’re taking money with a $5M post-money valuation, the expectation is that you are building for a minimum $50M exit. $10M 10M post-money valuation = $100M target.

Post-Money Valuation 92

Post-Money Valuation Valuation Dilution Advisory Board 92

Seeing Both Sides

SEPTEMBER 15, 2015

Only a handful of so-called unicorns — companies that have achieved a valuation of over $1 billion in the last 10 years — come from Israel, and only one Israeli firm, Teva, ranks in the world’s 500 largest companies by market capitalization. The second reason to move early is to hire the absolute best sales and marketing talent.

Cofounder 20

Cofounder Technical Review United States 20

Both Sides of the Table

AUGUST 9, 2011

Valuations were enormous relative to progress in companies. Companies with less than $2 million in revenue were asking for $50-60 million valuations and getting them. I spent my days meeting companies, figuring out what areas of the market interested me and trying to get a sense for how VCs thought about fair valuations.

Stock 305

Stock Technical Review Marketing Greece 305

Austin Startup

MAY 3, 2017

Staying private  — The average age of a technology company before it goes public is 11 years, as opposed to an average life of four years back in 1999. Through the series of funding rounds, companies do not need to go through an IPO to obtain capital or a higher valuation. Imagine that. Sell the vision. Sell the intention.

Texas 48

Texas Startup Silicon Valley Bootstrapping 48

SoCal CTO

JANUARY 5, 2011

Both Sides of the Table , July 22, 2010 An updated Digital Trends presentation - Jeff Hilimire , June 2, 2010 I do what I hate - Jessica Mah , January 7, 2010 Startup Equity Allocation - charliecrystle.com , January 11, 2010 When good investment decisions end up backing more women CEOs: Conversation with Cameron Lester at Azure Capital.

Silicon Valley 378

Silicon Valley Startup Term Sheet Venture Capital 378

Ben's Blog

MAY 24, 2021

In fact, if you exclude the Dot Com Bubble of 1999-2000, they have been steady for nearly thirty years. 1999-2000 51.6% Time Period IPO Pop % Above IFR 1999-2000 51.6% 1999-2000 37.5% We have published some research on this topic elsewhere, which I will summarize briefly below. Time Period IPO Pop* 1980-1989 6.1%

SEC 36

SEC Accredited Investor IPO Technical Review 36

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. The housing market is not recovered : Sales in existing homes in the US fell 27.2% Sales fell in every region of the country with the Midwest suffering the worst at 35%. VCs get paid to “put money to work.&#.

Entrepreneur 298

Entrepreneur Technical Review Balance Sheet Government 298

abovethecrowd.com

JUNE 2, 2021

The primary argument Chris is making is that Procore ended up at a better relative valuation (from his perspective) to its peers than did Squarespace, and that the clear reason this happened was the choice of an IPO (his preferred decision) over a Direct Listing (which he implies is a bad choice). Party A is locked up at time T+1.

IPO 82

IPO Customer Matching Silicon Valley 82