Cracking the Code

MARCH 28, 2022

While the average forward revenue multiple has declined slightly since its February 2020 peak (19x), it’s still higher today than last year at 17x vs 15.8x The cloud IPO market has also been very active with 32 IPOs vs. 17 in 2020. 60% of the cloud IPOs had a market cap of $5B+ vs. only 28% this year. in Sept 2020.

Global 62

Global Europe Software Review 62

Both Sides of the Table

JULY 16, 2010

But VC is an “illiquid asset&# so funds didn’t disappear quickly - In 2000/01 the stock market quickly adjusted punishing investors in the NASDAQ and in individual public technology stocks. side note: our last fund at GRP Partners is currently ranked as the 5th best performing fund of the year 2000.

LP 311

LP Technical Review Early Stage Silicon Valley 311

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. This article originally appeared on TechCrunch. I acknowledged this in the article.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Both Sides of the Table

JUNE 22, 2011

I know that most people who are close to them tend to deny their existence, as we saw in the great housing bubble of 2002-2007 and the dot com bubble of 1997-2000. Ah, but today’s Internet companies have real revenue! And this is happening in mezzanine (pre-IPO) deals as well. I said that at the Founder Showcase, too.

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

Both Sides of the Table

DECEMBER 13, 2010

Within a year, by late 2000 / early 2001 consulting firms were firing people en masse. On July 27th, 2001 Accenture IPO’s and many of the partners grew fabulously wealthy. The size of magazines seems to be expanding, marketing seems to be up and the number of tech announcements per day is dizzying.

Turkey 302

Turkey Differentiation IP Technical Review 302

Ben's Blog

MARCH 24, 2011

Lately, everybody seems to be talking about a new technology bubble. A Comparison Between Today’s “Bubble” and the Last Tech Bubble. In the great bubble of 1998-2000, the boom in public valuations mirrored the boom in private valuations. Are the prognosticators correct? Will we head mercilessly into another crash?

Technical Review 78

Technical Review Venture Capital Valuation Database 78

Gust

JANUARY 31, 2013

The move came as a shock to many in the tech business community, in which we’ve become accustomed to real-time disclosure by company executives through social media. To understand the SEC’s point of view , it’s necessary to review the principles underlying securities law in the United States.

SEC 158

SEC Prospectus United States Technical Review 158

Both Sides of the Table

SEPTEMBER 2, 2009

At some point, this breaks if their isn’t an exit or IPO. We should end the year with a few million in fully recurring revenue and we’re projected to double next year. But more spend = more viral opps = more revenue down the road. >50% of our revenue in now viral. Probably revenue based.

Founder 329

Founder Liquidation Preference Term Sheet Participating Preferred 329

Agile VC

MAY 26, 2011

AGILEVC My idle thoughts on tech startups. Google is still a private company (their IPO was Aug 2004). Silicon Valley is still emerging from the tech bubble and massive downturn of late 2000-2002. And obviously all the liq prefs went away in the IPO when pref stock converted to common. May 26, 2011.

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Both Sides of the Table

SEPTEMBER 29, 2009

Just ask anybody who was trying to close funding the fateful week of September 11, 2001 or even March 2000. Three reasons: There is a relative valuation between the price a VC pays and their expectations of what it will exit for in an IPO or trade sale. I argued for literally a year to slash burn.

Burn Rate 263

Burn Rate Valuation Pre-Money Valuation Private Equity 263

abovethecrowd.com

JULY 10, 2014

By 2011, the number of subscribers worldwide had surpassed 5 Billion and cellular communication had become an unprecedented technological revolution.” ( article via @trengriffin ). I don’t think very many people put young kids into taxis (due to trust), but they are quite comfortable doing this in an Uber. The Atlantic (3/25/12).

San Francisco 111

San Francisco San Jose Marketing Technical Review 111

online.wsj.com

SEPTEMBER 23, 2012

Loading… Tech. An entrepreneur with a hot technology and venture-capital funding becomes a billionaire in his 20s. The results were similar when he examined data for companies funded from 2000 to 2010, he says. Less than 1% are currently in IPO registration. Mossberg Reviews the iPhone 5. » More.

Venture Capital 107

Venture Capital Software Review Rhode Island North Dakota 107

Startup Lessons Learned

JUNE 9, 2020

This was supposed to be Airbnb's biggest year by many measures, including its IPO, which was one of the most anticipated since the 2008 financial crisis. A complete collapse of revenue that simultaneously affects your employees and your customers, your partners, your investors, everyone all at once and all the news is bad.

Silicon Valley 60

Silicon Valley Hosting Cofounder Employee 60