Agile VC

APRIL 17, 2011

How They Make Money: Majority of Kayak’s revenue actually comes from advertising on their site (55%), not lead generation or referral fees to travel suppliers as you might think (more on this below). Revenue growth: 51% YoY (2010), 1% YoY (2009), 131% YoY (2008). Pre-money valuation was approx.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Both Sides of the Table

JULY 23, 2014

Lower costs to start a business (95% reduction), many more companies created & funded by angels / seed. pre-money valuation you certainly would want to exercise your right to continue investing if you had prorata rights. We’re all socially connected (so great businesses spread faster). The iPhone was released.

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Both Sides of the Table

JUNE 22, 2011

In addition to FOMO it is partly driven by massive increase in valuations for earlier-stage companies who raised money at bit seed prices but who still have product risk. million pre-money valuation is now raising $1 million at a $12 million valuation the next investor has nowhere to go but up (or sit out the investment).

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

Both Sides of the Table

APRIL 20, 2011

In 2008 they raised a much larger fund $132.5 They chose the name First Round Capital because they thought capital would be deployed most efficiently at smaller seed stage rounds considering the cost to build an internet business had come down drastically. First Round Capital’s pre-money range is usually between $3-5 million.

Pre-Money Valuation 284

Pre-Money Valuation Technical Review Cofounder Cram Down 284

Both Sides of the Table

SEPTEMBER 29, 2009

The high burn rates were OK in investors’ minds when they figured they could just raise another round at a huge valuation and find a bigger sucker to fund the future large cash burn. Bu when you start to worry that the world is ending (as it seemed it was in late 2008 / early 2009) you tend to get worried about large burn rates.

Burn Rate 263

Burn Rate Valuation Pre-Money Valuation Private Equity 263

View from Seed

SEPTEMBER 14, 2021

Q: What is going to happen to the cost of capital? Q: What is the opportunity cost of not being in tech? Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. Are low interest rates structural, or temporal? .

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

Q: What is going to happen to the cost of capital? Q: What is the opportunity cost of not being in tech? Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. Are low interest rates structural, or temporal? .

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295