Both Sides of the Table
JUNE 5, 2011
2: As expected at least one person accused me of writing this post because I want to see lower valuations. As the risks below get eliminated the higher the valuation investors are prepared to pay. So rounds tend to be “range bound&# where the top end of the valuation spectrum often being done in boom markets (i.e.
Agile VC
MAY 26, 2011
A lot of people ask me what it was like raising the Series A round for LinkedIn back in 2003. I thought I’d revisit it and share the story… First, you have to rewind mentally to early 2003. Ok, now you have the context for early 2003. He provided our initial seed funding to launch the website publicly on May 5, 2003.
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Feld Thoughts
JANUARY 2, 2023
Its revenue grew by 30%+. Another company had a revenue decline of 25%. 2003 was hard. No one will value a company with a GM% of 10% at the same as a company with a GM% of 80% just because they are growing revenue at the same rate. Each company is different, and the dynamics of the bubble bursting were not generic.
Steve Blank
SEPTEMBER 14, 2009
Five Quarters of Profitability During the 1980’s and through the mid 1990’s startups going public had to do something that most companies today never heard of – they had to show a track record of increasing revenue and consistent profitability. There was now a public market for companies with no revenue, no profit and big claims.
Both Sides of the Table
NOVEMBER 9, 2009
It was 2003 and I was training for a marathon so I was in great shape (yes, I know this was YEARS ago but I did complete it in 3:57). But they didn’t have any revenue or enough traction to show for it. When you bring them up you take the issue off the table. Small story. I used to work in the UK.
Both Sides of the Table
JULY 16, 2013
I remember just a decade ago in 2003 when we all laughed at how dumb people in the 90′s were talking about the race to “capture as many eyeballs as possible” before your competition. The company with no revenue and a $150k burn rate that raised $2.5 I have seen much of that behavior over the past 2 years get worse.
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. Him: $12 pre.
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