Steve Blank

SEPTEMBER 5, 2018

With fewer than 10 employees but almost $2-billion dollars in the bank, they plan on jumping right in. Tech IPO prices exploded and subsequent trading prices rose to dizzying heights as the stock prices became disconnected from the traditional metrics of revenue and profits. But NewTV doesn’t plan on testing these hypotheses.

Lean 335

Lean Burn Rate Startup IPO 335

Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Your A round?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Gust

SEPTEMBER 17, 2014

Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. There were no metrics. Him: On metrics. Your A round?

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Steve Blank

SEPTEMBER 14, 2009

In theory when you went public, everyone’s shares were now tradable on the stock exchange, but usually the underwriters required a six month “lockup” when company insiders (employees and investors) couldn’t sell. The valuations for acquisitions were nothing like the Internet bubble, but there was a path to liquidity, difficult as it was.

Silicon Valley 230

Silicon Valley IPO Technical Review Venture Capital 230

Feld Thoughts

APRIL 21, 2016

Also, they have a strong belief that any sign of weakness (such as a down round) will have a catastrophic impact on their culture, hiring process, and ability to retain employees. Anything that hints of a down round brings questions about the success metrics that have already been “booked.” Long term is not a year.

Marketing 70

Marketing Down Round Startup IRR 70

ReadWriteStart

AUGUST 26, 2022

So this has always been our most significant focus area, whether in 2022, 2021, or 2001. . Do you have other efficiency metrics that you look at when you evaluate businesses to check the quality of growth and the quality of the revenues? . That’s a valuation number and pricing number. So having just growth is not enough.

Partner 132

Partner Cofounder Retention Acquisition 132

Ben's Blog

OCTOBER 29, 2020

IPO “over-subscription” has also become a vanity metric for the bankers and the issuing company. Interestingly the data for the 1990-98 and 2001-19 time periods are roughly the same – approximately one-quarter of deals priced above the initial filing range. So, what happens when we combine the data from the two charts?

IPO 36

IPO Securities and Exchange Commission Demand SEC 36