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. Employment.

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Babbling VC

AUGUST 10, 2011

OK, hands up, who's truly surprised by the drop in the stock markets or the postponed tech IPO's or even the upcoming slowdown in venture financing? I am seriously babbling like everyone else did in 2001, 2008 and now again in 2011. No really, who is surprised? If you said yes, stick your head back in the sand.

Germany 76

Germany Stock IPO Valuation 76

Scalable Startup

AUGUST 26, 2014

Drupal was launched in 2001, and Acquia started in 2007. Red Hat was one of the first of these types of companies bridging open source with big finance, leveraging Linux support into a profitable business, also leveraging the enterprise. Will Amazon try to acquire all of Acquia before the inevitable IPO? Acquia, Inc.

Founder 42

Founder Los Angeles PHP Open Source 42

BeyondVC

AUGUST 9, 2006

Ultimately what will give you the best chance for success is focusing on the things that you can control – building a real business with a real economic model that can generate cash from internal operations vs. through external financing. As he discusses in his blog post: Why I decided to pull our IPO filing. Market conditions 2.

Technical Review 60

Technical Review IPO SEC Stock 60

Feld Thoughts

OCTOBER 30, 2014

He had just read my post on being uncomfortable with the phase of the current cycle and told me an anecdote from the great Internet bubble of 2001 that I hadn’t heard. In it, he talks about how he handles public company stocks that he ends up with either via an IPO or a sale of a company he’s involved in to a public company.

Valuation 143

Valuation Stock Angel Investor IPO 143

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

Cracking the Code

JANUARY 19, 2016

I began my career at McKinsey and when the Internet bubble burst in 2001, I made a shift towards online software (ASP at the time). They also need VCs capable of financing their entire life cycle — on average, SaaS startups raise between $80 and $100 million before an IPO.

API 48

API Silicon Valley Europe Differentiation 48

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. It’s like we need a finance 101 course for entrepreneurs.

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Steve Blank

APRIL 13, 2013

If it’s driven by profit then the ecosystem needs both entrepreneurs as well as Venture Finance. Car sales in China went from 1 million in 2001 to 14 million in 2011. Liquidity for most Internet startups happens via IPO’s. 70% of exits in China are via IPO (in the U.S. innovation in the U.S. China now has plenty of both.

Silicon Valley 267

Silicon Valley China Venture Capital Merger 267

ReadWriteStart

APRIL 26, 2012

There used to be the Four Horsemen of the IPO world, back in the '80s and '90s. stock market: The change led by NASDAQ in early 2001 to valuing stocks in increments from one-eighth of a dollar down to one cent. When they exited the scene, the small IPO market followed suit. Brown & Sons, Montgomery Securities. Number of U.S.

IPO 115

IPO Stock San Francisco Lean 115

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. Don’t be psyched out by your competitors big financing round, latest product release or business development deal.

Turkey 302

Turkey Differentiation IP Technical Review 302

Professor VC

FEBRUARY 12, 2015

With companies remaining private much longer today, most of the value appreciation is pre-IPO. Former students who are readers of this blog may recall the Amazon IPO case from Entrepreneurial Finance class. Kleiner got a markup of approximately 12X at the IPO. bubble IPO unicorn valuation venture capital'

Las Vegas 28

Las Vegas IPO Pre-Money Valuation Valuation 28

Steve Blank

APRIL 13, 2013

If it’s driven by profit then the ecosystem needs both entrepreneurs as well as Venture Finance. Car sales in China went from 1 million in 2001 to 14 million in 2011. Liquidity for most Internet startups happens via IPO’s. 70% of exits in China are via IPO (in the U.S. innovation in the U.S. China now has plenty of both.

Silicon Valley 159

Silicon Valley China Venture Capital Merger 159

Campus Entrepreneurship

DECEMBER 23, 2010

When I attended between 1998-2001, there were a few course on entrepreneurship (entrepreneurial finance, entrepreneurial strategy, etc.), Their success is unparalleled, said Steven Kaplan, Neubauer Family Professor of Entrepreneurship and Finance. He’s started four IPO-able companies in eight years.

Cofounder 61

Cofounder Chicago Founder IPO 61

Ben's Blog

MARCH 24, 2011

Similarly, in recent high profile private financing rounds for private technology companies with valuations over $1B, the valuation multiples were at or below corresponding multiples for publicly traded companies such as Google. And hence the great crash of 2000 and 2001. Public market comparables. Much better.

Technical Review 78

Technical Review Venture Capital Valuation Database 78

online.wsj.com

JULY 11, 2012

Loading… Personal Finance. Personal Finance. In the 1990s Internet boom, easy money helped founders maintain more control early in a companys evolution, but founder CEOs without voting control often got replaced by a professional manager ahead of an IPO. Finance Jobs |. » More. Loading… Markets.

Silicon Valley 42

Silicon Valley Founder Software Review Technical Review 42

Ben's Blog

MAY 24, 2021

IPO market. There are a number of trends concerning IPOs and capital formation to note: First, the raw number of IPOs has declined significantly: From 1980-2000, the US averaged roughly 300 IPOs per year; from 2001-2016, the average fell to 108 per year. In the first quarter of 2021 alone, SPACs raised $87.9

SEC 36

SEC Accredited Investor IPO Technical Review 36

Both Sides of the Table

MAY 7, 2011

Juno IPO’d while Joel was there, and it was the first “broken&# IPO of the dot-com era. There’s a big business in Finance working with Excel, but that’s an outlier. Lesson: Joel had been building a community of readers since 2001. It debuted in the morning at $13, ended the day at $11.

Software Review 285

Software Review Software St. Louis API 285