Up and Running

DECEMBER 1, 2015

In 2005, David Choe was invited to paint a number of murals at Facebook’s HQ in Palo Alto. Of course, not every equity compensation story is a David Choe Story. If you’re thinking about extending equity to an employee or a vendor (as in the example above), you should know that the topic is multi-faceted. We’ll be happy to help.

Equity 60

Equity Employee Stock Options Vesting 60

Both Sides of the Table

JUNE 22, 2011

But this mania to not miss out on the next big thing is driving some investors to pay growth-equity prices for traditional market risk (as in, they’re paying up before it is clear there is product / market fit). And this is happening in mezzanine (pre-IPO) deals as well. Or worse yet they may never get financed.

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

Pascal's View

AUGUST 28, 2010

6) The most efficient fuel for this IPO engine is venture capital. The BDS series tracks the annual number of new businesses (startups and new locations) from 1977 to 2005, and defines startups as firms younger than one year old. v) “Since 1999, over 60% of IPOs have been VC-backed. GDP growth, the U.S. ” (ix) The U.S.

Venture Capital 56

Venture Capital America Initial Public Offering IPO 56

David Teten

APRIL 1, 2011

I hope that you can join us Monday night, April 4, midtown NYC, at a panel on “Innovation in Private Company Liquidity-Online Merger Markets, Social Media, Secondary Markets, Non-US Markets, Private Equity, and the Disappearing IPO” The program is sponsored by the HBS Club of New York and the HBS Angels of NY.

Private Equity 68

Private Equity Merger IPO Equity 68

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 23, 2012

.” Here’s the summary of his track record (excerpted from the Fast Company article): Forefront — IPO’ed in 1995 by CBT — CBT stock fell 85% in 1998 and prompted class-action lawsuits. invested, IPO’ed in 2000 for $32/share — stock price now $2. from an IPO under a year ago of $10.

IPO 240

IPO Flash Bootstrapping Private Equity 240

Gust

NOVEMBER 4, 2011

Entrepreneurs and investors who have spent any time dealing with convertible debt seed financing transactions are likely to have encountered the subject of valuation caps. The cap is irrelevant if the next equity financing is at a valuation below the cap amount.) was spun out, and the valuation was set by that financing round.

Valuation 98

Valuation Pre-Money Valuation Merger Vesting 98

500hats.com

AUGUST 2, 2012

Or, as my friend Marc Andreessen might say, Software Eats the Private Equity World. Mega VC has focused on the challenges of the post-SarbOx IPO market in the US, and has discovered opportunity in offering larger amounts of growth capital ($10-100M+) to private companies with reduced access to public markets. Mega VC, Micro VC.

Silicon Valley 74

Silicon Valley Early Stage Venture Capital Valuation 74