Steve Blank

JUNE 15, 2011

Today, the signs of the new bubble are the Linked-In initial public offering (IPO), Facebook’s stratospheric valuation and the rapid rise of early-stage startup valuation. Long before others, they saw that these applications could have hundreds of millions of users with “off the chart&# revenue and profits.

Silicon Valley 327

Silicon Valley Stealth Valuation Mississippi 327

Steve Blank

APRIL 10, 2019

We slept under the tables, and pulled all-nighters to get to first customer ship, man the booths at trade shows or ship products to make quarterly revenue – all because it was “our” company. Startup Compensation Changes with Growth Capital – 12 Years to an IPO. Growth Capital” moved the need for an IPO out another five years.

Stock Options 333

Stock Options Stock Vesting Common Stock 333

Steve Blank

OCTOBER 24, 2017

— Unremarked and unheralded, the balance of power between startup CEOs and their investors has radically changed: IPOs/M&A without a profit (or at times revenue) have become the norm. In the 20th century tech companies and their investors made money through an Initial Public Offering (IPO).

Founder 245

Founder Technical Review CTO Hire IPO 245

Steve Blank

AUGUST 20, 2013

on medical device revenues, regardless of profitability delays or cash-flow breakeven. Because device IPOs are rare, and M&A is much tougher, liquidity for investors is hard to find. Moreover, the absence of recent IPOs and public companies benchmarks creates uncertainty for VCs evaluating later investments too.

Startup 294

Startup Venture Capital Lean IPO 294

Steve Blank

AUGUST 5, 2010

In 1980 Genentech became the first IPO of a venture funded biotech company. Drive for a repeatable and scalable business model (revenue in Dave McClure’s investment thesis, “ network of scale &# in Union Square’s.). Cell-based Venture Capital – The Birth of Biotech Venture Capital. They build a minimum feature set.

Lean 258

Lean Internet Silicon Valley Venture Capital 258

Steve Blank

MAY 21, 2012

This intersection of a customer base of billions of people with applications that are used/needed 24/7 never existed before.The potential revenue and profits from these users (or advertisers who want to reach them) and the speed of scale of the winning companies can be breathtaking.

Silicon Valley 336

Silicon Valley Venture Capital Social Media Media 336

Steve Blank

JUNE 17, 2011

They helped build these struggling ventures into the Facebooks’, Twitters’, and Zyngas’ before anyone else appreciated these companies could have hundreds of millions of users with off-the-chart revenue and profits. Really smart money recognizes it’s a bubble and bets against it.)

Investment Bankers 310

Investment Bankers Stock Valuation Venture Capital 310

Steve Blank

JUNE 24, 2013

The banks lobbied regulators in Louisiana , New York , California, and Idaho and soon they were issuing injunctions forcing PayPal to delay their IPO. i.e. revenue/profit sharing, two-tier hiring, etc. As the company grew larger, incumbent banks forced PayPal to register in each state. Cut deals with the rent seekers. Lessons Learned.

North Carolina 335

North Carolina New Jersey New York Government 335

Steve Blank

JUNE 24, 2013

The banks lobbied regulators in Louisiana , New York , California, and Idaho and soon they were issuing injunctions forcing PayPal to delay their IPO. i.e. revenue/profit sharing, two-tier hiring, etc. As the company grew larger, incumbent banks forced PayPal to register in each state. Cut deals with the rent seekers. Lessons Learned.

North Carolina 227

North Carolina New Jersey New York Government 227

Steve Blank

FEBRUARY 12, 2015

We’re at 70 people, and we’ll do $40 million in revenue this year and should get to cash flow breakeven this quarter. ” In the Grow phase the company has achieved liquidity (an IPO, or has been bought or merged into a larger company event) and is growing by repeatable processes. It sounded like he was living the dream.

Startup 120

Startup Lean Venture Capital Advisory Board 120

Steve Blank

AUGUST 27, 2009

Yet we used the product development model not only to manage product development, but as a road map for finding customers and to time our marketing launch and sales revenue plan. Assuming no early liquidity (via an IPO or merger) for the company, more fund raising is required. We had no clue what our market was when we first started.

Silicon Valley 260

Silicon Valley Product Startup Product Development 260

Steve Blank

JUNE 8, 2009

Business and Revenue Model – How do we organize to make money? M&A, IPO? Marketing – How do you create end user demand? Business Development – What type of partnership or whole product is needed? Customer Development Steps – How do we iterate with customers? Intellectual Property/Patents – Strategic or Tactical, timing?

Vertical 122

Vertical Silicon Valley RSS Marketing 122

Steve Blank

JUNE 22, 2009

It was still a year away from its IPO. We Changed Our Mind In 1966, 10 years after Hewlett’s memo, Hewlett Packard’s revenue and headcount had grown ten fold; $200 million and 11,000 employees – all from test and measurement equipment. But first some background.) Its latest product was an oscilloscope, the HP 150a.

Silicon Valley 164

Silicon Valley RSS California Agile 164

Steve Blank

MAY 9, 2017

For life sciences it was the Genentech IPO in 1980 that proved to investors that life science startups could make them a ton of money. Meanwhile every other department in the company would be making their plan – meaning the company was burning cash without bringing in revenue. Finally the board would fire the VP of sales.

Restful 222

Restful Silicon Valley Puerto Rico San Jose 222