VC Adventure

AUGUST 31, 2017

So no surprise that when River Cities Capital released an overview of SaaS operating and valuation benchmarks, I hung on every juicy detail. The valuation metrics show this clearly. At IPO only 7 of 39 companies that have gone publics since 2013 had positive EBITDA. If you read my blog regularly you know I love (LOVE) metrics.

IPO 113

IPO Vertical Balance Sheet Valuation 113

Startup Professionals Musings

OCTOBER 17, 2022

Mobile and web software apps may cost even less. VCs tend to carry their partners much longer, in hopes of a big public offering (IPO) that could produce a windfall. Super angels sometimes drive up valuations. The cost of entry for tech startups continues to go down. Some VC firms are bogged down by their own weight.

Angel Investor 342

Angel Investor Venture Capital Silicon Valley Portfolio 342

YoungUpstarts

OCTOBER 23, 2017

PC and mobile interfaces dynamically display portfolio valuations and exposures, along with system-generated investment recommendations tailored to a specific client’s financial goals and risk appetite. Morgan Stanley predicts that Robo Advisors will manage $6.5 trillion by 2025, about 5% of the world’s wealth. Compliance.

Technical Review 154

Technical Review Artificial Inteligence Software Review IPO 154

Both Sides of the Table

JUNE 30, 2011

This is the final part of a 3-part series on the major changes in the structure of the software & the venture capital industries. A normalization of the venture capital market will bring more rational valuations over time but should produce more stable companies and better returns for VCs and LPs. The Coming Brick Wall.

Venture Capital 289

Venture Capital Early Stage Valuation Angel Investor 289

VC Cafe

AUGUST 2, 2022

billion valuation) to invest in the Metaverse and build the future of digital entertainment Epic owns Fortnite, one of the most popular multiplayer games, enabling users to interact with each other online in an immersive way to play, socialise, attend to virtual concerts. In April 2022, the company announced it has raised $2 billion (at $31.5

IP 206

IP Cofounder Valuation Acquisition 206

VC Cafe

JANUARY 24, 2021

It’s enough to see the rapid adoption of new social platforms from Signal in messaging to Clubhouse’s $1 billion valuation in less than a year. The “creator economy” will prosper in 2021. In 2021, optimism on investing in social media has returned.

Technical Review 207

Technical Review Audio Forecast Social Media 207

View from Seed

FEBRUARY 16, 2016

As of January 20, 2016, based on the “CrunchBase Unicorn Leaderboard,” there are 157 unicorns (companies with $1 billion+ valuations) which have not IPOed or been acquired—and more start-ups reaching unicorn status every day. MBA Unicorns Weigh Heavily Toward Software, Consumer Internet, and E-Commerce. Key Insights.

Programming 120

Programming St. Louis Cofounder India 120

Agile VC

APRIL 17, 2011

GameFly filed in 2010 and remains in registration, though 2011 has seen a positive start for VC-backed IPOs with 14 in Q1 2011. Now that Google’s acquisition of ITA is closed, following lenghty FTC review, it would appear Kayak is poised to proceed with their IPO in the coming months. =. Kayak Software Corporation.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Agile VC

NOVEMBER 6, 2013

Twitter’s IPO has garnered a ton of attention in the tech and popular press. So their revenue figures, pre IPO financing and ownership, and other info is all widely available. Growth IPOs Are Back. Instagram hadn’t built a true business (e.g. Value of Media vs E-Commerce vs Premium Services.

IPO 194

IPO Aggregator B2B Internet 194

Both Sides of the Table

SEPTEMBER 10, 2021

I’m over-paying for every check I write into the VC ecosystem and valuations are being pushed up to absurd levels and many of these valuations and companies won’t hold in the long term. On the one hand, you’re over paying for every investment and valuations aren’t rational.

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

Both Sides of the Table

MAY 24, 2021

This is true in consumer but it’s also true in enterprise software. Case in point, Procore just went public and is trading at an $11 billion valuation. sold to Disney for $670 million and since our first investment was at < $10 million valuation we did quite well. This “overnight success” was first financed in 2004.

Venture Capital 363

Venture Capital LP Valuation Later Stage 363

The Startup Magazine

OCTOBER 29, 2021

We can trace the Midwest’s renaissance to Sprout Social’s successful initial public offering (IPO) , which saw the company debut on public markets at a price of $17 per share and rise to over $120 per share today. billion company and has built up this valuation outside the Silicon Valley scene. Today, Sprout is a $6.6

Silicon Valley 173

Silicon Valley Kansas City Chicago Denver 173

Agile VC

JANUARY 13, 2016

A realignment of valuations by late stage investors? A pure software company might have 80-90%+ gross profit margins, but a commerce company might at best be 30-50% and service marketplaces might be far lower when measured on a gross revenue / GMV basis. What happened? The beginning of a tech downturn? and Groupon’s is $1.6B.

Technical Review 157

Technical Review .Net Revenue Software Review 157

Start Up Blog

MAY 13, 2019

Last Friday night, I did a TV interview on ABC regarding Uber’s long awaited IPO. An IPO is when a company first becomes a publicly traded stock that anyone can buy and hold. The Valuation: Uber was priced at $45 USD per share giving it a valuation of around $82 billion USD.

IPO 48

IPO Valuation Stock Cost 48

Startup Professionals Musings

JANUARY 19, 2020

Mobile and web software apps may cost even less. VCs tend to carry their partners much longer, in hopes of a big public offering (IPO) that could produce a windfall. Super angels sometimes drive up valuations. The cost of entry for tech startups continues to go down. Some VC firms are bogged down by their own weight.

Angel Investor 314

Angel Investor Venture Capital Silicon Valley Startup 314

Agile VC

NOVEMBER 9, 2015

Square filed its S-1 several weeks ago and is now in the middle of its IPO road show process. A bunch of articles came out saying that Square had “priced” their IPO below last round and this was something terrible ranging from the bursting of a tech bubble to the coming of the apocalypse. Revenue Composition.

IPO 165

IPO .Net Revenue Acquisition 165

Steve Blank

MAY 9, 2017

And I’ve been lucky enough to watch innovation happen not only in hardware and software but in Life Sciences – in Therapeutics, Medical Devices, Diagnostics and now Digital Health. In the 1970’s, 80’s and 90’s, momentum shifted to the enterprise as large businesses supported innovation in PCs, communications hardware and enterprise software.

Restful 222

Restful Silicon Valley Puerto Rico San Jose 222

Steve Blank

AUGUST 19, 2013

For exits, acquisitions are the rule and IPOs the exception. And while the vast majority of Life Science exits remain below $125M, other sectors have seen exit valuations soar.

Venture Capital 301

Venture Capital Startup Lean Philadelphia 301

The Next Web

SEPTEMBER 16, 2012

Valuations Aren’t Going Away. Facebook’s IPO was a tell-tale sign that startup valuations are very unpredictable and susceptible to major changes. Besides, the big tech titans are already making moves with new hardware and software that will accelerate the integration into everyday life. Logan Lenz , Endagon.

API 157

API Social Media Mobile Valuation 157

ReadWriteStart

JULY 21, 2011

They really wanted to invest, but it was the beginning of the bubble, and I wanted (what was then) an absurd valuation. All we had were six slides, and I wanted a $10 million post-money valuation. We had gone back and forth with them on valuation, but this was a new firm and they wanted to close a deal with us. Discuss.

Post-Money Valuation 122

Post-Money Valuation Valuation IPO Venture Capital 122

Steve Blank

SEPTEMBER 14, 2009

On top of all this it was considered very bad form not to have at least four additional consecutive quarters of profits after an IPO.) The IPO Bubble – August 1995 – March 2000 In August 1995 Netscape went public, and the world of start ups turned upside down. Tech acquisitions went crazy at the same time the IPO market did.

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Ben's Blog

MAY 24, 2021

IPO market. Prior to joining Andreessen Horowitz, I held several executive positions in a publicly-traded software company and was previous to that an investment banker. With the benefit of increasing IPOs in the last few years, we are starting to see better growth: In 2020, there were close to 500 IPOs in the U.S.,

SEC 36

SEC Accredited Investor IPO Technical Review 36

VC Cafe

OCTOBER 13, 2019

As capital becomes less available and upticks in valuation take longer to prove (unlike what Scott Galloway calls the ‘ Softbank effect ‘ of multiplying valuations in the billions), controlling cash and tightening the belt might become necessary. Fred Wilson, AVC blog. What is Blitzscaling?

Prospectus 140

Prospectus Startup Valuation IPO 140

Ben's Blog

MARCH 24, 2011

As we do so, keep in mind that the relevant bubble statistic is not valuation. High valuations are fine if the underlying value is there. In the great bubble of 1998-2000, the boom in public valuations mirrored the boom in private valuations. If too much venture capital hits the streets, valuations will bubble up.

Technical Review 78

Technical Review Venture Capital Valuation Database 78

Start Up Blog

NOVEMBER 18, 2020

– – – The Tale of 2 Tech IPO’s. So today I’m going to help you get a better at understanding true technology / software plays versus those who, in truth pretend to be something they are not. In fact, almost every business relies on software in some way. DOOR DASH – IPO. AIRBNB IPO.

IPO 62

IPO Valuation Software Venture Capital 62

Both Sides of the Table

OCTOBER 1, 2009

Bad stock markets mean less IPO’s and lower prices for M&A. This has a tangible impact on the valuation of start-ups and the pace of investment. In the first post in this three part series I described why I believe the VC market froze between September 2008 – April 2009.

Technical Review 269

Technical Review Stock Hawaii Early Stage 269

Cracking the Code

MAY 25, 2010

Thoughts from a Venture Capitalist on Software, Software-as-a-Service (SaaS), Cloud Computing, Internet and more. ipo process. Free Software Download. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). SaaS 13 Index Valuation. software. (10). Cracking The Code. Tuesday, May 25, 2010. "10

Software Review 74

Software Review Cloud IPO Jordan 74

Both Sides of the Table

AUGUST 14, 2009

I’m a software guy so I’m sure there are cases where building isn’t feasible. They have an expectation that the IPO will be in 3 years and they were in at the ground floor. If you’re three s -hot kids from Stanford, Caltech or MIT you might be able to push valuation higher. At what value?

Silicon Valley 291

Silicon Valley Ireland Technical Review Valuation 291

Version One Ventures

OCTOBER 1, 2019

What was one of the highest flying start-ups with a private market valuation of $47B was brought down to Earth when trying to IPO. If you run a software start-up, gross margins are high, scaling is relatively easy, and capital requirements are relatively low. I think WeWork provides a key lesson about company building.

Valuation 116

Valuation Vertical IPO Business Model 116

Steve Blank

MARCH 18, 2011

The signals are loud and clear : seed and late stage valuations are getting frothy and wacky, and hiring talent in Silicon Valley is the toughest it has been since the dot.com bubble. Software companies had to buy specialized computers and license expensive software. The IPO offering document became the playbook for startups.

Internet 334

Internet IPO Silicon Valley Agile 334

Austin Startup

MAY 10, 2021

but then going public and rising 23% on day one to… drumroll please… a $36B valuation ?—?a The IPO netted $500M for UiPath (and another $700M for shareholders). Several smaller RPA firms have been acquired by bigger software vendors in the last year as well? a full 60x trailing twelve month revenues.

Silicon Valley 113

Silicon Valley IPO Venture Capital Valuation 113

Rob Go

DECEMBER 28, 2011

IPO’s/Exits. Kayak: Registered for an IPO but on hold. Zipcar: Ok, not exactly consumer web/software, but a great consumer tech company nonetheless. Zipcar: Ok, not exactly consumer web/software, but a great consumer tech company nonetheless. Raised $174M in its IPO in April, current market cap ~$550M.

Technical Review 54

Technical Review Boston Software Review IPO 54

VC Cafe

OCTOBER 2, 2020

billion valuation when it was acquired by Google. Since then, Israel has produced unicorns in many software categories, from health to cyber and enterprise to consumer. Technically, the term unicorn was coined by Aileen Lee in 2013, so many consider the first ‘new’ unicorn to be Waze in 2013, as the company achieved a $1.3

Venture Capital 183

Venture Capital Acquisition IPO 183

Agile VC

OCTOBER 1, 2013

I believe we’re going to look back in 2-5 years and realize that we’ve been in a once a decade boom for internet & software startups. Software revenue trails hardware slightly and ad revenue always takes a couple years to shift, but even here the results are astounding. It doesn’t feel much like a boom actually.

IPO 147

IPO Cloud Valuation Mobile 147

Version One Ventures

OCTOBER 7, 2014

After the IPO, they can recover those losses. As soon as your business stops growing, your valuation multiples come crashing down and you can be in serious trouble. News Hubspot Initial public offering IPO Moz Software as a service Unbounce' Things are great as long as you can maintain growth.

Initial Public Offering 148

Initial Public Offering IPO SEC Valuation 148

Ben's Blog

OCTOBER 29, 2020

Since then, the debate over IPOs has continued, with a particular focus on allegedly underpriced offerings that jump shortly after opening — the dreaded “pop.” ” As some criticism has it, this supposedly deprives companies of millions of dollars that should have been theirs if not for underpricing the IPO.

IPO 36

IPO Securities and Exchange Commission Demand SEC 36

The Startup Magazine

SEPTEMBER 10, 2019

Asset valuation. The concept of asset valuation may seem counterintuitive, but it is an important idea. Most financial valuation formulas value an asset by discounting the asset using the cost of capital (interest rate) to the present day. Compared to Accounting, Finance is ruthlessly forward looking.

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Founder Valuation Dividend Startup 117