Both Sides of the Table

JUNE 5, 2011

I wrote this because over the last decade I’ve seen a destructive cycle where otherwise interesting companies have been screwed by raising too much money at too high of prices and gotten caught in a trap when the markets correct and they got ahead of themselves. Again, prices are expressed as pre-money valuations.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Agile VC

APRIL 17, 2011

At the end of the day Kayak’s playing a key role in the online travel process, but it appears more of the revenue comes from filling top of the conversion funnel rather than the middle or bottom of it. Pre-money valuation was initially set higher but was adjusted to match the Ser B valuation.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Both Sides of the Table

JULY 23, 2014

pre-money valuation you certainly would want to exercise your right to continue investing if you had prorata rights. 2007 was the watershed year. Just 3 years ago there was talk of institutional investors “not being able to write small enough checks.”

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

View from Seed

SEPTEMBER 14, 2021

This post is inspired by some of the earliest conversations I have had with the team here at NextView and since the beginning of my VC journey. Building off Rob’s original post, let’s continue to look at the 2007 vintage. Both early- and late-stage startup valuations are currently elevated. The answer is likely a mix of both.

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

This post is inspired by some of the earliest conversations I have had with the team here at NextView and since the beginning of my VC journey. Building off Rob’s original post, let’s continue to look at the 2007 vintage. Both early- and late-stage startup valuations are currently elevated. The answer is likely a mix of both.

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295

View from Seed

SEPTEMBER 14, 2021

This post is inspired by some of the earliest conversations I have had with the team here at NextView and since the beginning of my VC journey. Building off Rob’s original post, let’s continue to look at the 2007 vintage. Both early- and late-stage startup valuations are currently elevated. The answer is likely a mix of both.

Valuation 156

Valuation Pre-Money Valuation Distribution Early Stage 156

Both Sides of the Table

APRIL 14, 2010

Many companies that are raising B or C venture capital rounds right now raised their initial money in 2005-2008. That means that they likely raised money at a particularly high price relative to 2010 prices. It’s a bit like if you bought a $1 million home in 2007 and want to sell it for $1 million today. Brain damage.

Venture Capital 289

Venture Capital Liquidation Preference Common Stock Pre-Money Valuation 289