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State of VC 2.0

View from Seed

Warning – this assumes some basic knowledge of VC performance metrics. One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). Ok, let’s jump in.

Valuation 319
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State of VC 2.0

View from Seed

Warning – this assumes some basic knowledge of VC performance metrics. One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). Ok, let’s jump in.

Valuation 295
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article thumbnail

State of VC 2.0

View from Seed

Warning – this assumes some basic knowledge of VC performance metrics. One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). Ok, let’s jump in.

Valuation 156
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The Coming Zombie Startup Apocalypse

This is going to be BIG.

Would you be surprised to know that almost half of the dot com companies founded when the boom started in 1996 were still around in 2004--four years after the peak of the NASDAQ? They might even find themselves operating more efficiently than they ever had been--newly focused on core metrics.

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When Entry Multiples Don’t Matter

Ben's Blog

A multiple is a company value divided by a metric. When Salesforce went public in 2004 as a new kind of CRM provider, its S-1 indicated the CRM applications market was $7B. Two common public markets multiples are earnings multiples (price per share / earnings per share) and EBITDA multiples (enterprise value / EBITDA). Not too shabby!