500hats.com

AUGUST 2, 2012

While a flood of new VCs came into existence during the late 90’s internet boom, many had difficulty raising new funds after the crashes of 2000-2001 and 2008 , and as a result significantly fewer fund managers exist now compared to a decade ago. In the past ten years there have been several dramatic changes in venture capital.

Silicon Valley 74

Silicon Valley Early Stage Venture Capital Valuation 74

Steve Blank

JULY 15, 2010

The two decades from 1979 when pension funds fueled the expansion of venture capital to 2000 when the dot-com bubble burst were the Golden Age for entrepreneurs and venture capital firms. VC’s invested their limited partners’ “risk capital” in a portfolio of startups in exchange for illiquid stock. Take a look at the chart below. (It

Venture Capital 297

Venture Capital IPO Liquidity Event Entrepreneur 297

www.inc.com

SEPTEMBER 24, 2011

Finance | Tuesdays. Financing a Small Business. Financing A Small Business. Personal Finance. Before Roving Software could receive its first round of financing from professional investors, in early 1999, he had to put all the stock arrangements in writing. Start-up | Mondays. Technology | Thursdays. Franchises.

Fractional CTO 40

Fractional CTO Equity Iowa Technical Cofounder 40

Cracking the Code

NOVEMBER 13, 2008

The fact that SaaS valuations are being more affected by the downturn than the Nasdaq can be surprising given the supposed resiliency of the SaaS model (recurring revenues) but it translates the public investors belief that SMB software spend is going to be hit very hard by this recession. With this decline, the average EV/08 rev.

Software Review 48

Software Review Technical Review Valuation Portfolio 48

Pascal's View

AUGUST 21, 2011

Welcome to the latest passionate debate over the ‘valuation bubble or not?’ Capital Markets Advisory Partners cleaves the demand for pre-public VC-backed equities into two worlds: “Demand Pull (Buzz) and Supply Push (No Buzz) companies. Specifically, too much money has gone into VC-backed Internet companies at too high a valuation.

Valuation 50

Valuation Social Media Media IPO 50

The Equity Kicker

AUGUST 25, 2015

I saw that in 2000 and then again in 2008. When the macro economic climate is tough less money flows into venture funds and startups, so fewer deals get done, valuations are lower and more companies fail. And, in case you’re wondering we don’t have any low valuation termsheets out there at the moment.

Valuation 60

Valuation Startup Stock Portfolio 60

The Equity Kicker

JULY 8, 2019

From around 2000, and perhaps coinciding with the need to work harder to win deals as opportunities dried up after the internet bubble burst, individual partners at VC firms began adding ‘helping CEOs win’ to their job descriptions. . Value add strategies make partners at VC firms more personally effective. Building platforms.

Portfolio 84

Portfolio LP Venture Capital Partner 84

David Teten

AUGUST 7, 2019

than comparable companies in the same sector that raised at a higher valuation. However, Abe Othman, Partner at Indicator Fund and Head of Data Science at AngelList, observes, “Those companies don’t have a “margin of safety” though, in the traditional Seth Klarman sense of the word. LTV / CAC, revenue growth, etc.)

Venture Capital 60

Venture Capital Valuation Stock NDA 60

abovethecrowd.com

JULY 10, 2014

On June 18, Aswath Damodaran , a finance professor at NYU’s Stern School of Business, published an article on FiveThirtyEight titled “ Uber Isn’t Worth $17 Billion. Financial models, especially valuation models, are interesting in that they can be particularly precise. billion, far short of the value recently determined by the market.

San Francisco 111

San Francisco San Jose Marketing Technical Review 111

Both Sides of the Table

JANUARY 31, 2011

Mostly you read about fundings, product releases, big valuations, and M&A. Inbound calls from partners, people who want to join, atta boys from friends. We just landed the biz dev partner we’ve been working on for 9 months. Google DID NOT just acquire our main biz dev partner. Sit back and watch usage.

Entrepreneur 384

Entrepreneur Startup Salary Egypt 384

Growthink Blog

APRIL 2, 2014

Well, if you don’t, try on these IPO, M&A, and financing stats from 1st Quarter 2014: Initial Public Offerings: 72 companies went public in the U.S. in the 1st quarter - the largest number of new issuers since 2000 -raising a total of 11.1 Don’t you just love these booming markets?

Private Equity 69

Private Equity Merger IPO Initial Public Offering 69

finance.fortune.cnn.com

AUGUST 21, 2012

Now Fortune has obtained more granular data, including returns for dotcom-era funds managed by such firms as Accel Partners, Benchmark Capital, General Catalyst Partners and Lightspeed Venture Partners. Through 12/31/11, less than 66% of the fund-of-funds called capital had been returned to limited partners.

Naming 49

Naming Term Sheet Private Equity Equity 49

Austin Startup

JULY 23, 2010

The company announced that is just completed $13M in financing from existing investors SMH Private Equity Group, ABS Ventures, Austin Ventures, and Trellis Partners. The cash looks good on the balance sheet, and venture investors want to pile on money at low valuations before the valuation increases by 10x as a public stock.

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

Both Sides of the Table

JANUARY 22, 2011

Mostly you read about fundings, product releases, big valuations, and M&A. Inbound calls from partners, people who want to join, atta boys from friends. We just landed the biz dev partner we’ve been working on for 9 months. Google DID NOT just acquire our main biz dev partner. Sit back and watch usage.

Entrepreneur 176

Entrepreneur Startup Salary Egypt 176

Both Sides of the Table

FEBRUARY 14, 2016

I’d like to explain as best I can my opinion on what is going on because most of what I hear from entrepreneurs is not only wrong but is reminiscent of what I heard in 1997-2000. I have been talking about my concerns about valuations for the past couple of years because, well, they’ve been rising very rapidly the past two years!

Valuation 150

Valuation Down Round Startup Later Stage 150

Steve Blank

JUNE 22, 2011

Ben and his partner Marc Andreessen (the founder of Netscape and author of the first commercial web browser on the Internet ) are the definition of Smart Money. Prices for both private and public tech valuations exceed any rational valuation to their current worth. with my colleague Ben Horowitz.

Internet 295

Internet Silicon Valley United States .Net 295

Agile VC

NOVEMBER 13, 2012

Sarah also points to the vast global wealth that has to get allocated somewhere as well as a small bump in long term average returns, now that the generally terrible performance of funds from the 2000-2002 time frame (after the tech bubble of the late 90s crashed) no longer factor in to 10 year returns.

LP 154

LP Portfolio Venture Capital IRR 154

www.paulgraham.com

APRIL 28, 2010

One answer to that is obvious: because you need money to live on.Its a fine idea in principle to finance your startup with its ownrevenues, but you cant create instant customers. A startup with a couple founders in their early twenties can haveexpenses so low that they could be profitable onas little as $2000 per month.

Bootstrapping 77

Bootstrapping Term Sheet Founder Startup 77

David Teten

NOVEMBER 15, 2013

Each new investor tends to raise valuations and lower returns for all the other competitive investors. In the asset management industry, the norm is that the General Partner puts in 1-2% of the total assets under management. However, the asset management industry collectively plays a near-zero-sum game.

Management 114

Management Pre-Money Valuation Venture Capital New Hampshire 114

Ben's Blog

MAY 24, 2021

Editor’s Note: This testimony was delivered by a16z managing partner Scott Kupor to the U.S. By way of background, I am the Managing Partner for Andreessen Horowitz, a $16.5 In fact, if you exclude the Dot Com Bubble of 1999-2000, they have been steady for nearly thirty years. 1999-2000 51.6% IPO market. 1990-1998 13.3%

SEC 36

SEC Accredited Investor IPO Technical Review 36