Feld Thoughts

JUNE 30, 2022

” For perspective, all you need to do is look at a dozen high-flying IPOs from 2020 or 2021 to see that the peak happened just before Thanksgiving. In the last seven months, the venture / entrepreneurial world has gone from “the only thing that matters is massive growth” to “the world is going to end.”

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Ben's Blog

OCTOBER 29, 2020

Since then, the debate over IPOs has continued, with a particular focus on allegedly underpriced offerings that jump shortly after opening — the dreaded “pop.” ” As some criticism has it, this supposedly deprives companies of millions of dollars that should have been theirs if not for underpricing the IPO.

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YoungUpstarts

FEBRUARY 20, 2015

This is because these days it’s a trendy word, conjuring up images of youthful exuberance, all-night coding parties, and developing revolutionary apps that transform into mind-boggling IPOs. When Johnny Earle, the founder of Johnny Cupcakes, started in 2001, he didn’t make baked goods; he sold t-shirts about baked goods!

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Cofounder Montana Startup Seed Capital 100

Feld Thoughts

MAY 28, 2015

I remember my friend Ryan Martens sitting down with me and Chris Wand around 2001 and walking us through his idea for changing the how he approached managing the software development process. Million To The Boulder Community after their IPO. Rally started out life as F4 Technologies.

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Mucker Lab

OCTOBER 12, 2016

Combined with the usual summer slowdown, some are already raising the spectre of 2001 or 2008. Why should a public market downturn determine an investment in a startup that has seven to 10 years to go before it can even think about an IPO? The “venture recession” of 2016 is in full swing.

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Growthink Blog

MAY 14, 2012

Because golly, when it comes to the IPO market and public market returns in general, help is needed in a big way. Since the Internet bubble burst in 2001, the number of IPOs hasn’t recovered to even 1980s levels. For perspective, before 2001 over 40% of all venture capital exits were via initial public offerings.

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IPO Private Equity Initial Public Offering Balance Sheet 78

Agile VC

NOVEMBER 7, 2019

Aggregate VC investment in 2009 hits a low of roughly $20B, a figure last seen in 2003 in the wake of the bursting of the dotcom and telecom bubble and 2001 recession. Companies are retrenching, VC firms are going through their own upheavals, and IPOs are non-existent. Survival is the order of the day. Rowe Price, hedge funds, etc.

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Feld Thoughts

AUGUST 14, 2018

I spent the weekend with a friend from the last 1990s who was the lead banker on the Interliant IPO (I was a co-founder and co-chairman.) If you like to read IPO prospectuses, here’s the final S-1 filing after INIT went effective and started trading on July 8, 1999. My first moment with this was Black Monday in 1987.

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Both Sides of the Table

JULY 16, 2010

The VC industry grew dramatically as a result of the Internet bubble - Before the Internet bubble the people who invested in VC funds (called LPs or Limited Partners) put about $50 billion into the industry and by 2001 this had grown precipitously to around $250 billion. But in bad economies many angels get burned.

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Diego Basch

JUNE 2, 2012

In the late nineties, internet IPOs were all the rage. Everyone wanted in on IPOs back then, because it was a given that you would multiply your money in a few days. A friendly voice greeted me and started a sales pitch: “Would you like to participate in the QuePasa dot Com IPO?” A Killer IPO.

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Austin Startup

APRIL 27, 2019

HomeAway is another one of our five tech IPOs in the last five years. If it wasn’t for a fierce conversation that I had with Arthur Patterson, the co-founder of Accel Partners, Coremetrics would have gone out of business in early 2001. As of today, RetailMeNot is worth $1.33 It is just four-years old?—?for It is worth $3.4

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Austin Startup

MARCH 2, 2019

I made very few edits to the original post, mostly in the area of readability and grammar (not in substance of content): Spurred on by my recent Lucky7 post on how capital efficient Bazaarvoice was on its path to IPO , two friends sent me great posts this week on entrepreneurship and risk.

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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. Short answer – yes.

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Burn Rate Valuation Pre-Money Valuation Private Equity 263

Steve Blank

MARCH 18, 2011

Dot.com Bubble ( 1995-2000): “ Anything goes” as public markets clamor for ideas, vague promises of future growth, and IPOs happen absent regard for history or profitability. With Netscape’s IPO , there was suddenly a public market for companies with limited revenue and no profit. 2001 – 2010: Back to Basics: The Lean Startup.

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Internet IPO Silicon Valley Agile 334

Hunter Walker

JANUARY 24, 2021

You see, it was for work I’d performed from 2001–2003 at a startup called Linden Lab, the company behind virtual world Second Life. The transaction size was small compared to the IPO and SPAC headlines from the past few months, but I had the benefit of being an early, single digit employee, and hence a stock value of around.04/share

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Silicon Valley Equity Vesting Cofounder 83

Pascal's View

AUGUST 12, 2009

It boggles the mind that Washington would enact new policies sure to prolong this (IPO) drought and strike at the heart of American innovation.” IPO drought testifies to a systemic liquidity crisis for emerging growth companies that is putting at risk an entire generation of innovative American companies. from the WSJ editorial).

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IPO Silicon Valley Merger Sweat Equity 28

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. This is nothing new.

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Germany Stock IPO Valuation 76

Scalable Startup

AUGUST 26, 2014

Drupal was launched in 2001, and Acquia started in 2007. Will Amazon try to acquire all of Acquia before the inevitable IPO? But that’s a different article… Less prominent in the news, but possibly more important, is Amazon’s investment in ACQUIA. Acquia, Inc. What will come next? I think we can bet on that.

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BeyondVC

AUGUST 9, 2006

Yes, this is easier said than done, but when this happens you can do things like Bob Parsons , CEO of GoDaddy, recently did (via Techmeme )- pull his IPO. As he discusses in his blog post: Why I decided to pull our IPO filing. You might ask, why, if Go Daddy’s situation has never been better, did I decide to pull our IPO filing?

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Technical Review IPO SEC Stock 60

Feld Thoughts

JANUARY 11, 2021

From 1996 to 2001, I spent a lot of time with Len in New York, where Interliant was headquartered. I remember signing document after document with him at Interliant and remember sitting at the Interliant office in Purchase after the IPO roadshow, waiting for the SEC to clear our filing so we could price.

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Ben's Blog

MARCH 24, 2011

And hence the great crash of 2000 and 2001. For example, the 1998 IPO class had average revenue of $120 million (and net losses of $65 million to boot). If you just look at the tech IPOs that have been completed year to date from 2010, the average revenue of this group is north of $300 million. Much better.

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Technical Review Venture Capital Valuation Database 78

Austin Startup

JUNE 27, 2017

Valuations in startups increased dramatically during the Dot Com boom and then both valuations and the availability of investment capital nationally collapsed in 2001 with the Dot Com bust and 9/11. But the timing of the launch of these new funds almost assured their failure regardless of their investing acumen.

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Venture Capital Austin Texas Private Equity 54

ReadWriteStart

APRIL 2, 2012

IPOs by year, 1980-2011, with pre-IPO last 12-month sales less than (small firms) or greater than (large firms) $50 million (2009 purchasing power). The real truth is, since the "Internet bubble" burst in 2001, initial public offerings have not resumed the vitality levels of the late 1980s, let alone the boom years of the '90s.

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YoungUpstarts

MARCH 3, 2020

Chris Kape: I established JAMCO in early 2001 in the wake of the dot-com bubble collapse. Anyone involved in Internet related high-tech businesses at the time learned much from the loss of easy to raise capital with high valuations and quick IPO/RTO exits.

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Partner Uganda Angel Investor Bulgaria 147

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.

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Venture Capital Liquidation Preference Valuation Term Sheet 417

BeyondVC

NOVEMBER 17, 2006

I am not sure if you saw the news , but Salary.com recently filed for an IPO to raise up to $50 million. From April 2001 through June 30, 2006, we achieved 21 consecutive quarters of revenue growth. If the IPO markets open up again, it would give investors and entrepreneurs another option to create value. million, $0.9

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View from Seed

JANUARY 11, 2017

I was an early employee at PayPal and back in the 2000-2001 timeframe, and we ended up taking a fairly significant amount of strategic investment (tens of millions of $) from various banks in the US, Europe, and Asia.

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Strategic Investors Post-Money Valuation Seed Stage Cofounder 120

Ben's Blog

MARCH 25, 2016

It was founded on 2001, IPO’d in 2008, and was acquired by SAP in … In this episode of the a16z Podcast sharing more founder stories, Ben Horowitz interviews a16z partner Lars Dalgaard about SuccessFactors, one of the earlier software-as-a-service companies. (It

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IPO Software Partner Founder 28

Steve Blank

MARCH 9, 2016

We didn’t IPO it. After leaving Razorfish in 2001, Craig spent a year immersed in food, including a stint as a prep cook at Babbo, Mario Batali’s flagship restaurant. It was all strategic partnerships leading to IPOs. Drew : It wasn’t a successful startup. We didn’t sell it.

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Silicon Valley Cofounder Entrepreneur IPO 120

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.

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Valuation Stock Angel Investor IPO 143

VC Cafe

JUNE 8, 2010

J erusalem Venture Partners successfully raised $25 million for an annex fund to strengthen the portfolio companies in the Israel-focused JVP IV which closed in 2001. If the IPO market recovers, the Annex Fund could serve as a life support oxygen pump, but JVP’s LPs will surely want to warrant that no good money is thrown after bad.

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Warrant IPO Portfolio 74

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.

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IPO Stock San Francisco Lean 115

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.

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API Silicon Valley Europe Differentiation 48

Steve Blank

APRIL 13, 2013

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. It’s much easier to just steal their ideas and hire their employees. So big companies rarely acquire startups.

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Silicon Valley China Venture Capital Merger 267

Ben's Blog

OCTOBER 8, 2011

How could I have figured out that there would be 221 IPOs in 2000 and 19 in 2001? How could I know that half our customers would go out of business? How could I know that it would become impossible to raise money in the private markets? Could anybody expect me to achieve a reasonable outcome given those circumstances?

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Bankruptcy IPO New York Restful 78

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. Andersen had lost its long-time CEO, George Shaheen, was hemorrhaging staff and wasn’t exactly known as being an Internet pioneer.

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Turkey Differentiation IP Technical Review 302

BeyondVC

JULY 5, 2004

Russell Beattie has a thorough post on Jamdat Mobile’s IPO filing. Just look at Jamdat’s numbers: $90k revenue in 2001 with a $5mm loss and $7mm revenue in Q1 2004 with $740k profit which is an annualized revenue runrate of $28mm-not too bad in a few years. The post Jamdat Mobile files for IPO appeared first on BeyondVC.

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