Steve Blank

SEPTEMBER 5, 2018

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. Massive liquidity awaited the first movers to the IPO’s, and that’s how they managed their portfolios.

Lean 335

Lean Burn Rate Startup IPO 335

Both Sides of the Table

APRIL 15, 2010

I was on This Week in Venture Capital (TWiVC) again this week with Jason Calacanis. billion valuation. They only recently raised $30 million at around a $300 million valuation and THAT raised eyebrows. In the former case many people scoffed at paying up for Google at IPO. People are talking a rumored $1.2

Venture Capital 271

Venture Capital Affiliate Valuation San Francisco 271

Both Sides of the Table

FEBRUARY 12, 2019

Over the past month a colleague ( Chang Xu ) and I sifted through data on the venture capital industry (as we do every year) and made a bunch of calls to VCs and LPs to confirm our hypotheses. As a result of the IPO window shifting we saw a massive inflow of public-market capital into the latest stages of venture.

Venture Capital 328

Venture Capital Technical Review Seed Stage IPO 328

Both Sides of the Table

FEBRUARY 6, 2019

I’ve heard a lot of people question whether there is too much money in venture capital chasing too few great deals. Valuations are out of control” is the mantra of others. Others believe that new business models are emerging that could replace venture capital all together. We’re in a new tech bubble!”

Venture Capital 292

Venture Capital IPO Mezzanine Early Stage 292

Both Sides of the Table

FEBRUARY 16, 2017

We felt proud to be the lead investor in Maker Studios at a sub $5 million valuation. How Do I Feel About the Snap IPO Given I Didn’t Invest? There will be more enormous successes in Los Angeles and it’s our job to get into enough of these. And we feel great about the many companies in LA that have now reached serious revenue growth.

IPO 214

IPO Los Angeles Technical Review Silicon Valley 214

Both Sides of the Table

JULY 23, 2014

There has been much discussion in the past few years of the changing structure of the venture capital industry. The rise of alternative sources of capital (crowd funding and the like). We are in a bubble (with so many private $1bn+ valuations). On the surface the narratives have been. Where are we today? billion). .”

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Feld Thoughts

AUGUST 25, 2015

In January, Jerry Neumann wrote a long and detailed analysis of his view of the VC industry in the 1980’s titled Heat Death: Venture Capital in the 1980’s. My advice to a venture capitalist, then, now or later, is simple: Do what you know, do what you love; build great companies and over time you will succeed.

Venture Capital 70

Venture Capital SBIC Technical Review Silicon Valley 70

Startup Professionals Musings

DECEMBER 26, 2013

There is additional encouraging news for aspiring entrepreneurs on many fronts, just in case you are thinking about joining the existing ranks: Valuations of successful startups have hit an all-time high. Initial Public Offerings (IPO) are back as an exit strategy. business entrepreneur investment IPO social media startup'

IPO 273

IPO Entrepreneur Social Media Startup 273

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

Both Sides of the Table

SEPTEMBER 18, 2014

On the phone … Me: So, you raised venture capital? Me: There is no rational explanation for valuations of A round companies by ANY objective financial measure. How do you think they’ll feel if your next round is at a $50 million post money valuation and their hard-earned $25,000 is worth 0.05% of your company?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Startup Professionals Musings

OCTOBER 17, 2022

Based on the best evidence I can find, the genesis of this trend and the advantages come from several evolutionary changes in the startup investment industry, and some innovations driven by the recession several years ago and the recent pandemic: Venture capital funds are regaining momentum. Super angels sometimes drive up valuations.

Angel Investor 342

Angel Investor Venture Capital Silicon Valley Portfolio 342

VC Cafe

JANUARY 14, 2022

There are two main forms of exits for startups: trade sale/M&A or IPO. SPACs had their moment in the sun in 2021, with a record number of companies choosing to go public using the SPACs in favour of traditional IPOs. Why do Israeli startups might find them attractive?

Technical Review 158

Technical Review Lock-up Period South Korea 158

Haystack

DECEMBER 29, 2018

6/ Venture Capital In Expansion Phase. More and more angels will be minted as the 2019 IPO class emerges. Public investors, cross-over investors, and even traditional private equity firms have taken notice, further blurring the lines of what constitutes true venture capital.

Technical Review 165

Technical Review Venture Capital Russia China 165

Version One Ventures

DECEMBER 20, 2021

Over the past 18 months, the pandemic has reset these expectations, leading to huge increases in valuations for both public and private tech companies…not to mention venture capital returns that are far better than what we have traditionally seen! Read the post: Resetting venture capital expectations: is 10x the new 3x?

Venture Capital 60

Venture Capital Technical Review Software Review IPO 60

VC Cafe

JANUARY 29, 2024

It’s easy to find bad news about venture capital these days. In other words, the venture capital bust has only just started. 2023 was a rough year for Venture Capital and for startups, and it might get even worse. Global venture funding fell 42% year over years to $248.8

Generative AI 171

Generative AI Global Venture Capital Valuation 171

View from Seed

DECEMBER 4, 2019

Over the last 10 years, we’ve been in a bull market with considerable froth in late stage financing activity and valuations. For example, a $10B endowment might be looking to have 10% ($1B) allocated to venture capital at any one time. This would suggest that TVPI would be performing well.

LP 256

LP IRR Distribution Portfolio 256

Startup Professionals Musings

OCTOBER 14, 2016

Based on some good estimates of how many new ventures have been started in the last five years, the statistical odds of any individual startup making it to this level are less than one in a million. If your new venture is still in the idea or development stages, don’t even think about a high valuation.

Intellectual Property 120

Intellectual Property Valuation Merger Exit Strategy 120

Steve Blank

AUGUST 19, 2013

But what if we could increase productivity and stave the capital flight by helping Life Sciences startups build their companies more efficiently? At the same time, Venture Capital, which had viewed therapeutics, diagnostics and medical devices as hot places to invest, is fleeing the field. Venture Capital Issues.

Venture Capital 301

Venture Capital Startup Lean Philadelphia 301

Both Sides of the Table

SEPTEMBER 10, 2021

how on Earth could the venture capital market stand still? One of the most common questions I’m asked by people intrigued by but also scared by venture capital and technology markets is some variant of, “Aren’t technology markets way overvalued? With the enormous changes to our economies and financial markets?—?how

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

Both Sides of the Table

FEBRUARY 6, 2017

It was only a year ago that many in the Venture Capital industry were predicting that “winter was coming” and to be fair the author of this post was chief amongst them. Yet as we enter February 2017 the VC funding markets are booming, Snap, Inc has filed for its IPO, AppDynamics was just purchased for $3.7 Baidu alone raised $3.2

Venture Capital 150

Venture Capital Saudi Arabia Kuwait Burn Rate 150

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

Startup Professionals Musings

JULY 19, 2015

There is additional encouraging news for aspiring entrepreneurs on many fronts, just in case you are thinking about joining the existing ranks: Valuations of successful startups have hit an all-time high. Initial Public Offerings (IPO) are back as an exit strategy. Thus a record number of entrepreneurs (and employees) are getting rich.

IPO 120

IPO Angel Investor Startup Incubator 120

abovethecrowd.com

FEBRUARY 24, 2015

Every successful technology company raises money throughout its lifecycle, perhaps starting with a seed investment and progressing through Series A, B, C, late-stage investments, and, for the most successful companies, an IPO. An unprecedented 80 private companies have raised financings at valuations over $1B in the last few years.

IPO 40

IPO Liquidation Preference Valuation Technical Review 40

Both Sides of the Table

OCTOBER 21, 2009

On the third Wednesday of every month I co-chair a meeting called the SoCal VCA (venture capital alliance), which represents participants from all of the top venture capital firms in Southern California as well as prominent members of the Tech Coast Angels (TCA).

Technical Review 241

Technical Review IPO Southern California Venture Capital 241

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. Growing Venture Capital Activity.

Silicon Valley 173

Silicon Valley Kansas City Chicago Denver 173

View from Seed

MARCH 24, 2021

At NextView Ventures we have written many pieces about venture capital — how to raise it, build your business, engage with investors, iterate your product, navigate expanding industries, etc. What Are Your Valuation Expectations? Why Do Consumer IPOs and B2B IPOs Get Treated Differently? ” (Rob Go).

Seed Stage 177

Seed Stage Hiring IPO Analytics 177

Startup Professionals Musings

AUGUST 6, 2023

With the advent and growth of crowdfunding over the past few years, many entrepreneurs have predicted the demise of angel investment groups and venture capital organizations. Lack of checks and balances on startup valuations. In fact, the latest figures show that crowdfunding globally is expected to grow from USD 1.41

Angel Groups 201

Angel Groups Accredited Investor Due Diligence Equity 201

Startup Professionals Musings

APRIL 17, 2023

Different types of investors tend to specialize in capitalizing on businesses at different stages. Venture capital firms look for the most mature companies they can find, Angel investors typically deal a tier lower, while friends and family are most likely to help you get started.

Angel Investor 313

Angel Investor Intellectual Property Investment Bankers Private Equity 313

Startup Professionals Musings

NOVEMBER 25, 2020

With the advent and growth of crowdfunding over the past few years, many entrepreneurs have predicted the demise of those demanding angel investment groups and venture capital organizations. Lack of checks and balances on startup valuations. These groups are now largely run by volunteers at no cost to entrepreneurs.

Equity 411

Equity Angel Groups Accredited Investor Due Diligence 411

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

abovethecrowd.com

JUNE 2, 2021

On March 26, SoFi announced that “it will be offering its members (at least those with $3K in their account) the ability to invest in IPOs for companies going public, an investment opportunity that has traditionally been reserved for large institutional investors or ultra-high-net-worth individuals.”

IPO 82

IPO Customer Matching Silicon Valley 82

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. Unicorns have been over-hyped during the past few years, and nowadays frequently attacked by skeptics.

Programming 120

Programming St. Louis Cofounder India 120

VC Cafe

JANUARY 2, 2023

The ten biggest exits of the year included a mix of IPOs and acquisitions. There are 85 Israeli unicorns, but only about 50% them justify a billion Dollar valuation, according to Viola’s report. As growth investments (and valuations) go down, unicorns might struggle to survive, according to Globes. ” Fred Wilson.

Valuation 158

Valuation Down Round Venture Capital 158

Both Sides of the Table

JUNE 5, 2011

2: As expected at least one person accused me of writing this post because I want to see lower valuations. As the risks below get eliminated the higher the valuation investors are prepared to pay. So rounds tend to be “range bound&# where the top end of the valuation spectrum often being done in boom markets (i.e.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Steve Blank

SEPTEMBER 14, 2009

Over the same 30 years, Venture Capital firms have honed their skills and strategies to match Wall Streets needs to achieve liquidity for their portfolio companies. One of the biggest mistakes entrepreneurs make is misunderstanding the role of venture capital investors. What Do VC’s Do?

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Startup Professionals Musings

JANUARY 19, 2020

Based on the best evidence I can find, the genesis of this trend and the advantages come from several evolutionary changes in the startup investment industry, and some innovations driven by the recession several years ago: Venture capital funds are still regaining momentum. Super angels sometimes drive up valuations.

Angel Investor 314

Angel Investor Venture Capital Silicon Valley Startup 314

Startup Professionals Musings

AUGUST 21, 2021

When you see startups like SpaceX and Pinterest grow from a low valuation to a billion dollars in just a few years, it’s easy to assume that if you just keep doing what you are doing, you can get there as well. Then there is the pressure to go public ( IPO ), and open your investment to thousands, maybe millions, of small investors.

Merger 379

Merger Due Diligence SEC IPO 379