Both Sides of the Table

JULY 22, 2010

Due to competitive markets we ended up with a pretty good term sheet until we needed to raise money in April 2001 and then we got completely screwed. It was accept the terms or go into bankruptcy so we took the money. So they agreed to match True’s term sheet. I turned them down. They were nonplussed.

Valuation 405

Valuation Liquidation Preference Pre-Money Valuation Term Sheet 405

Gust

JULY 23, 2014

You can find this in a number of places, but in a nutshell, I prefer to invest in highly-scalable, technology-based ventures, with a particular focus on platforms, at a very, very early stage (but, oxymoronically, where there is already some type of traction).

Angel Investor 153

Angel Investor Elevator Pitch Pre-Money Valuation Technical Review 153

This is going to be BIG.

JULY 30, 2015

If you could return investors nearly triple their money and mid 20's returns consistently, compared to the 8% long term return in the public equities market, they'd more than accept that. I assumed the following: Seeds are done as a $1mm round on a pre-money valuation of $5mm. Exits are $250mm. How about price?

Venture Capital 60

Venture Capital Pre-Money Valuation IRR Valuation 60

dondodge.typepad.com

JANUARY 15, 2011

Community is more powerful than money or technology » August 11, 2007 How much equity for investors and employees? Entrepreneurs face some pretty tough questions at a very early stage. Should I take Angel or VC money? How much money should I raise? How much equity should I grant to early employees?

Equity 40

Equity Employee Dilution Valuation 40

Hippoland

AUGUST 31, 2018

So, I thought it might make sense to take a step back and talk about all the stages of early stage fundraising here in the Silicon Valley. In early stage investing, at least in Silicon Valley, there are basically 4 stages: pre-seed, seed, post-seed (or pre-A), and series A.

Pre-Money Valuation 90

Pre-Money Valuation Valuation Silicon Valley Early Stage 90

This is going to be BIG.

SEPTEMBER 7, 2012

The one thing that does effect them all is the cyclicality of funding and exit markets, but if you go back over the last 20 years, there's really only been a very short timeframe where you literally could not get a company funded. I thought the numbers prove this--because big later stage underperforms small early stage.

Later Stage 99

Later Stage Down Round Pre-Money Valuation Early Stage 99

Hippoland

AUGUST 31, 2018

So, I thought it might make sense to take a step back and talk about all the stages of early stage fundraising here in the Silicon Valley. In early stage investing, at least in Silicon Valley, there are basically 4 stages: pre-seed, seed, post-seed (or pre-A), and series A.

Pre-Money Valuation 48

Pre-Money Valuation Valuation Silicon Valley Early Stage 48