Steve Blank

SEPTEMBER 5, 2018

A version of this article first appeared in the Harvard Business Review. As a reminder, the Dot Com bubble was a five-year period from August 1995 (the Netscape IPO ) when there was a massive wave of experiments on the then-new internet, in commerce, entertainment, nascent social media, and search.

Lean 335

Lean Burn Rate Startup IPO 335

ReadWriteStart

JULY 2, 2022

Successfully running your business in 2022 is not easy due to the new norms of people’s lives. Since most startups in 2022 are going online, you need to think about starting your business on the Internet. Since most startups in 2022 are going online, you need to think about starting your business on the Internet.

Cost 140

Cost Software Review Technical Review Cloud 140

Version One Ventures

DECEMBER 14, 2016

Every announcement – whether it was a funding round, exit or layoffs – was analyzed within the context that the tech bubble has definitely burst or that we’re still in the bubble. In other words, any correction in public valuations happened quickly and has now stabilized. The industry entered the year bracing for an apocalypse.

Technical Review 60

Technical Review Early Stage Portfolio Valuation 60

YoungUpstarts

JUNE 20, 2016

Before the advent of cloud technology and the Internet, company files had to be stored away in physical data rooms (PDRs). The old PDRs were quite cumbersome due diligence processes. The switch from PDRs to VDRs resulted in deal cycles and increased valuations. What are Virtual Data Rooms? Human Resources.

Software Review 100

Software Review Technical Review Due Diligence Security 100

Both Sides of the Table

SEPTEMBER 28, 2014

it is also the title of a fabulous book from Internet 1.0 In startup world low GM almost always equals death which is why many Internet retailers have failed or are failing (many operated at 35% gross margins). Valuation. I wanted to call out special attention to valuation in this debate.

Burn Rate 383

Burn Rate Balance Sheet .Net Valuation 383

The Equity Kicker

SEPTEMBER 24, 2014

When startups can do more with less money the returns from investing small amounts of money go up, and that can be seen in rising Series A valuations and declines in the average amount of money raised before exit. The second development is SEIS and EIS. I could give lots of examples but perhaps the best is the way we work with solo-founders.

Early Stage 119

Early Stage Development Team Review Technical Review Software Review 119

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. As the risks below get eliminated the higher the valuation investors are prepared to pay.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Up and Running

SEPTEMBER 10, 2014

Angels invest in one out of every forty deals they review (2.5%) versus the one out of 400 by VC’s (0.25%). They are professionals with full-time jobs, who often don’t have time for due diligence (and may not even know how to do it) and often make decisions through trusted referrals or based on gut feelings (more on gut feelings later).

Angel Investor 159

Angel Investor Technical Review Software Review Accredited Investor 159

David Teten

SEPTEMBER 23, 2017

VCs tout themselves as frontier technology investors, but most are using the same infrastructure tools they have used for the past 20+ years: Excel and recent college grads searching Google. According to Knowledge.VC , under 5% of US VCs have a full-time team member focused on technology. . But we’re doing it slowly.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

Both Sides of the Table

JUNE 22, 2011

The fact that today’s Internet bubble does not represent all companies does not disprove its existence. Ah, but today’s Internet companies have real revenue! Responses ranged from, “hey, they’re in a HUGE market&# to “it is an amazing company and their technology rocks.&# and profits!

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

The Startup Magazine

JULY 27, 2018

Hrank is a service which reviews shared hosting providers and allows you to compare the performances to see which one suits you better. No more 348 tabs opened to find the best one, no more looking on the internet to see the latest news, no more hundreds of articles with tips. Source: Pixabay.

Hosting 61

Hosting Technical Review Metrics Internet 61

View from Seed

AUGUST 17, 2021

90% of the airtime around ownership and valuations is focused on what happens when the first check is written. Effective post money is the effective valuation of an investor’s dollars at any one time. at exit due to dilution. Also, being too dogmatic isn’t very fun J. What matters is effective post-money at exit.

IRR 205

IRR Dilution Founder Portfolio 205

Startup Professionals Musings

NOVEMBER 4, 2011

are eliminated during due diligence. Get your Internet domain name and website. It should answer every question an investor or associate might ask, including current valuation, funding needed, and exit strategy. Over half of the survivors remaining are eliminated during live presentations, and another 6.5%

Intellectual Property 249

Intellectual Property Angel Investor Technical Review Elevator Pitch 249

Startup Professionals Musings

OCTOBER 20, 2017

Today, the move to digital technology is driving marketplace change at a seemingly ever-increasing rate. The pervasive Internet and mobile device access allows instant communication of new options, total sharing of customer experiences, and mass customization, on a world-wide scale.

Technical Review 136

Technical Review Demand Valuation Business Model 136

Startup Professionals Musings

MARCH 11, 2016

A business needs technical, marketing, financial and many other skills. Angel investors expect to review a short executive summary before booking time to hear an investor presentation or taking the time to analyze a full business plan. Highlight existing presence on the Internet and social media.

Angel Investor 120

Angel Investor Intellectual Property Accredited Investor Angel Groups 120

A Smart Bear: Startups and Marketing for Geeks

AUGUST 18, 2015

A startup with new cost structures, new technology, and new ideas can compete with a good-enough product at 1/2, 1/4, or possibly even 1/10th the price, and start cleaning up. The current valuation of the company is based on continued growth in revenue and earnings, not erosion due to ankle-biters. Not anymore.

Technical Review 120

Technical Review Valuation Flash Revenue 120

Ben's Blog

JUNE 18, 2011

We are not in a technology bubble. We have not even taken a major step towards a technology bubble. So let us first ask if “a very high percentage of the population&# has bought into a distorted premise about the future growth prospects for technology. The internet is working. Ex-cash it’s 13.5.

Technical Review 76

Technical Review Software Review Valuation Internet 76

View from Seed

AUGUST 17, 2021

90% of the airtime around ownership and valuations is focused on what happens when the first check is written. Effective post money is the effective valuation of an investor’s dollars at any one time. at exit due to dilution. Also, being too dogmatic isn’t very fun J. What matters is effective post-money at exit.

IRR 156

IRR Dilution Founder Portfolio 156

Cracking the Code

AUGUST 3, 2011

Thoughts from a Venture Capitalist on Software, Software-as-a-Service (SaaS), Cloud Computing, Internet and more. In search of Europes next tech stars. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). SaaS 13 Index Valuation. internet. (6). In search of Europe's next tech stars. at 11:03 AM.

Software Review 67

Software Review Europe Technical Review Search 67

Both Sides of the Table

AUGUST 12, 2010

In the technology world there are a few websites that most startups track to keep up with the latest financings, acquisitions, product announcements and gossip: BusinessInsider, TechCrunch, Mashable, GigaOm, etc. Specifically we talked about Slide having gotten a $550 million valuation before being sold to Google for $182 million.

Seed Stage 232

Seed Stage Valuation Private Equity Venture Capital 232

Genuine VC

JULY 19, 2010

The firm is solely focused on capital efficient business sectors, most frequently but certainly not always internet-enabled companies. In the sector of internet-enabled services where a majority of the Micro VC investment has transpired, startups can fundamentally do more with less. That’s no secret.

Seed Stage 175

Seed Stage Technical Review Dilution Offshore 175

David Teten

DECEMBER 3, 2019

When I met my now-wife, I realized that any technology that can find me a spouse is a killer app. I’d argue that the same type of technologies that have revolutionized dating can revolutionize our industry. . I walk through below how progressive investors are using technology and analytics throughout all of their operations.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

YoungUpstarts

JUNE 29, 2020

Personal protective equipment (PPE) are now being routinely used to ensure health and safety, virtual shopping is at an all-time high due to qurantine and lockdown, and physical interactions have been limited to mobile and online platforms. Assistive Devices : Global Market Insights, Inc.

Demand 173

Demand Product Artificial Inteligence Software Review 173

Agile VC

MAY 26, 2011

AGILEVC My idle thoughts on tech startups. is the leading consumer internet company with Terry Semel as CEO. Silicon Valley is still emerging from the tech bubble and massive downturn of late 2000-2002. round which closed in November 2003, and the pre-money valuation between $10 million and $15 million. May 26, 2011.

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Startup Professionals Musings

SEPTEMBER 23, 2010

are eliminated during due diligence. Get your Internet domain name and website. It should answer every question an investor or associate might ask, including current valuation, funding needed, and exit strategy. Over half of the survivors remaining are eliminated during live presentations, and another 6.5%

Angel Investor 224

Angel Investor Intellectual Property Technical Review Elevator Pitch 224

View from Seed

AUGUST 17, 2021

90% of the airtime around ownership and valuations is focused on what happens when the first check is written. Effective post money is the effective valuation of an investor’s dollars at any one time. at exit due to dilution. Also, being too dogmatic isn’t very fun J. What matters is effective post-money at exit.

IRR 136

IRR Dilution Founder Portfolio 136

Mucker Lab

MAY 28, 2020

Compass.co, a benchmarking and research service, analyzed 3,200 internet startups and found that 74 percent “fail due to premature scaling.” These lost startups land higher valuations, have larger teams, outsource more product development and spend more money on customer acquisition than their peers.

Startup 78

Startup Cofounder Burn Rate Technical Review 78

Both Sides of the Table

OCTOBER 1, 2009

Consumer spending is 70% of the economy and will continue to be stretched – We can look all we want at tech innovation, VC funding cycles and hot M&A deals, but ultimately growth and therefore investment must be underpinned by revenue. This has a tangible impact on the valuation of start-ups and the pace of investment.

Technical Review 269

Technical Review Stock Hawaii Early Stage 269

Cracking the Code

FEBRUARY 23, 2011

Thoughts from a Venture Capitalist on Software, Software-as-a-Service (SaaS), Cloud Computing, Internet and more. In comparison, the overall technology sector growth was projected at 9-10% in early 2010 and this forecast did not change significantly today. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). internet. (6).

Software Review 101

Software Review Technical Review Valuation Europe 101

Both Sides of the Table

JULY 25, 2010

Before booking a hotel I always check out Trip Advisor and read reviews. It’s hard for angels to assess whether or not to invest because they often have day jobs and can’t commit to the kind of due diligence that most VCs go through. When I want to go to restaurants I check out Zagat and Yelp.

Silicon Valley 293

Silicon Valley Technical Review Southern California Angel Investor 293

Both Sides of the Table

APRIL 20, 2011

In the early 80’s he left academia to work on venture capital investing with Jim Simons, Renaissance Technologies. 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.

Pre-Money Valuation 284

Pre-Money Valuation Technical Review Cofounder Cram Down 284

Steve Blank

SEPTEMBER 14, 2009

Posted on September 14, 2009 by steveblank Over the last 30 years Wall Street’s appetite for technology stocks have changed radically – swinging between unbridled enthusiasm to believing they’re all toxic. Tech acquisitions went crazy at the same time the IPO market did. 3) invest in and take equity stakes in exchange for capital.

Silicon Valley 223

Silicon Valley IPO Technical Review Venture Capital 223

Agile VC

SEPTEMBER 15, 2011

AGILEVC My idle thoughts on tech startups. In the software an internet space a number of companies obviously had strong public offerings (LinkedIn, Yandex, Pandora, RenRen, et al). The very strongest companies can still likely get out if they really wanted, but may not command the valuations they hoped for in more bullish times.

IPO 100

IPO Marketing Silicon Valley Private Equity 100

Cracking the Code

JANUARY 16, 2012

Thoughts from a Venture Capitalist on Software, Software-as-a-Service (SaaS), Cloud Computing, Internet and more. Labels: Europe Consumer , internet. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). SaaS 13 Index Valuation. internet. (6). In search of Europe's next tech stars. Cracking The Code.

Software Review 95

Software Review Europe Technical Review Spain 95

Both Sides of the Table

AUGUST 23, 2010

I was an early user of Quora and like all new technologies they take a bit of playing with them for a while, discussing them with others and reflecting on them to let them sink in. For me this dates back to pre-Internet days of bulletin boards, CompuServe , Prodigy and the like. Tags: Tech Market Analysis. No, really.

Silicon Valley 301

Silicon Valley Pre-Money Valuation Technical Review Software Review 301

Up and Running

NOVEMBER 12, 2014

The SEC’s proposed rules (mandated by the JOBS Act of 2012) amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to allow the offer and sale of securities through an internet crowdfunding campaign, similar in some respects to donation crowdfunding campaigns conducted on Kickstarter and Indiegogo.

Equity 125

Equity SEC Technical Review Security 125

Cracking the Code

NOVEMBER 7, 2010

Thoughts from a Venture Capitalist on Software, Software-as-a-Service (SaaS), Cloud Computing, Internet and more. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). SaaS 13 Index Valuation. internet. (6). In search of Europe's next tech stars. Churchill Club 2008 Top 10 Tech Trends. at 5:29 PM.

Software Review 59

Software Review Technical Review Europe Cloud 59