Steve Blank

MARCH 31, 2014

I’m honored to be at a university noted for knowledge, and in a city with 2000 years of history – home of Gaudí one of the 20 th century’s greatest innovators. Look at the valuations of companies like Tesla, Illumina, and Twitter. This type of innovation creates new products or new services that did not exist before.

Private Equity 326

Private Equity Metrics China Intellectual Property 326

Both Sides of the Table

APRIL 20, 2011

Infonautics went public in 1996 and Half.com was sold to eBay in 2000. Twitter wanted to raise money for this new venture at a pre-money valuation which was quite a bit higher than First Round’s $10 million limit. Office Hours – Two or three partners post a sign-up sheet to meet with entrepreneurs. and Half.com.

Pre-Money Valuation 284

Pre-Money Valuation Technical Review Cofounder Cram Down 284

Agile VC

MAY 26, 2011

Silicon Valley is still emerging from the tech bubble and massive downturn of late 2000-2002. Yes… he was a very successful PayPal exec and previously co-founder & VP Product of SocialNet. Not long after the product launch we began the initial conversations with VCs for a Series A round. It was a $4.7M

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Startup Professionals Musings

DECEMBER 27, 2014

Institutional venture capital dispensed thus far in 2014 has been up significantly over the last few years, but is still less than half of the peak hit way back in the year 2000 (over $100 billion). They have too many highly paid partners, fat fees, an aging corporate infrastructure and difficulty raising money from institutions.

Angel Investor 260

Angel Investor Silicon Valley Startup Portfolio 260

David Teten

SEPTEMBER 16, 2014

Villalobos & Payne: “Startup Pre-Money Valuation: The Keystone to Return on Investment” 117. Based on his track record, by 2008 he was able to found ff Venture Capital , an institutional angel investment firm (where I am a Partner). approx 2004-09. approx 1999-07. 1961- 1996. Mason & Harrison: “Is it worth it?

Angel Investor 114

Angel Investor Technical Review Venture Capital Pre-Money Valuation 114

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

www.inc.com

SEPTEMBER 24, 2011

Jumpstart was one of Grahams first clients; it signed on shortly after he founded Arizona Bay, in 2000. In the past few years, hundreds of small companies have been snatched up by private equity firms willing to agree to ever-rising valuations. Graham is careful about whom he chooses to partner with. Graham liked the idea.

Arizona 40

Arizona Equity Iowa Venture Capital 40

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

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

Both Sides of the Table

JANUARY 31, 2011

The truth is that in my experience very, very few people really enjoy the “pure&# startup environment: months with no salary, months with no live product and lots of trial, error & rejection. Mostly you read about fundings, product releases, big valuations, and M&A. of your product. Get your press coverage.

Entrepreneur 384

Entrepreneur Startup Salary Egypt 384

www.inc.com

SEPTEMBER 24, 2011

Back in 1997, Randy Parker was staring at a blank whiteboard, wondering where hed find the money to hire the employees and consultants he needed to build his new product. "We Durkin , managing partner with the Boston -based law firm Lucash, Gesmer & Updegrove LLP. Copyright © 2000 inc.com. based in Waltham, Mass. Two trucks.

Fractional CTO 40

Fractional CTO Equity Iowa Technical Cofounder 40

abovethecrowd.com

JULY 10, 2014

Financial models, especially valuation models, are interesting in that they can be particularly precise. While it may seem like a tough question to answer, I would argue that most practitioners of valuation analysis would state “not very high.” It is not my aim to specifically convince anyone that Uber is worth any specific valuation.

San Francisco 111

San Francisco San Jose Marketing Technical Review 111

This is going to be BIG.

NOVEMBER 7, 2011

Companies that find product/market fit deserve to grow--and if there are enough of those, there will be enough capital to follow them. Is 2012 going to be 2000 all over again? Valuations. There are a ton of companies being funded at $500+ million valuations--seriously limiting exit opportunities. Are we in a bubble?

Angel Investor 104

Angel Investor Valuation Startup Revenue 104

Austin Startup

JULY 23, 2010

What other products have they looked at? Which products are already in their shopping cart? These are some things to think about when pricing products dynamically, but I’m sure Zilliant’s products are not just focused on realtime web. What time of day are they shopping? How did they arrive at our website?

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

Both Sides of the Table

JANUARY 22, 2011

The truth is that in my experience very, very few people really enjoy the “pure&# startup environment: months with no salary, months with no live product and lots of trial, error & rejection. Mostly you read about fundings, product releases, big valuations, and M&A. of your product. Get your press coverage.

Entrepreneur 176

Entrepreneur Startup Salary Egypt 176

Both Sides of the Table

OCTOBER 15, 2009

This can often happen when there is a good product built but no real customer adoption yet. million which closed the first week of March 2000 – a week before the market crashed. We built 4 products simultaneously with no market feedback. We had 6 developers, 1 head of product management, 1 QA in India and me.

Founder 299

Founder Technical Review Startup Venture Capital 299

techcrunch.com

OCTOBER 13, 2012

He is on the board of the Angel Resource Institute, and is a partner with Montlake Capital (a late stage growth capital fund) and with Revenue Capital Management (a royalty based lender). It is not highly concentrated geographically, or in the bubble of 1998-2000, or in any industry. The distribution of returns from the different U.S.

Angel Investor 103

Angel Investor Venture Capital Seed Stage Silicon Valley 103

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

Both Sides of the Table

DECEMBER 5, 2010

MySpace would liked to have owned YouTube but didn’t have the public stock valuation to purchase them at the price that Google did. The one major thing that Twitter doesn’t seem to have figured out quite yet is that platform thing or at least how to encourage a bunch of 3rd-party developers to build meaningful add-on products.

Social Network 318

Social Network Networking Internet Technical Review 318

Altgate

MARCH 8, 2009

I say ecosystem as opposed to industry because it is not just the VC funds themselves that are imploding, instead the collapse includes entrepreneurs and startups that were funded by VCs, angel investors, service providers like lawyers, bankers and accountants as well as limited partner investors in VC funds. Also, the $1.5

Later Stage 34

Later Stage Early Stage Venture Capital Portfolio 34

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 297

Internet Silicon Valley United States .Net 297

www.paulgraham.com

APRIL 28, 2010

Investors evaluate startups the way customers evaluate products,not the way bosses evaluate employees. If you keep the company moving forward—releasing newfeatures, increasing traffic, doing deals, getting written about—those investor meetings are more likely to be productive. Consulting is the only option you can count on.

Bootstrapping 77

Bootstrapping Term Sheet Founder Startup 77

Cracking the Code

OCTOBER 13, 2020

This summer saw two record transactions within a month, as UiPath became the first European Cloud decacorn in July and Visma, a Norwegian company, became the world’s largest ever software buyout with a $12B+ valuation. In 2000 and 2008, the economic crises had a dramatic impact on the tech ecosystem, but 2020 seems to be very different.

Europe 71

Europe Cloud Silicon Valley 71

Startup Lessons Learned

JUNE 12, 2020

Brian's philosophy of building and designing both products and organizations is based on two things: trust and love. Commitments to respect their employees, their customers, their partners. To build products that are healthy for human beings and the communities they inhabit. Brian Chesky : You may not like the product you have.

Silicon Valley 113

Silicon Valley Design Hiring Government 113

VC Cafe

NOVEMBER 9, 2011

There were over 2000 participants and around 100 speakers from all over the world. The US markets have generally proven themselves as giving better valuations, and long term liquidity.”. You can’t go big by having one technology or one product.”. The host was William Bowmer, a Managing Director at Barclays Capital.

IPO 92

IPO Cofounder Europe 92

VC Cafe

AUGUST 15, 2011

The company will also receive a single grant of 400,000 shekels to set up a beta-site to prove the product or service’s application in the local market. Dotomi, which was founded in 2003, raised $17 million in funding since its inception from Globespan Capital, US Venture Partners, Investor Capital and Velocity. ValueClick Inc.

China 90

China Cofounder India 90