Agile VC

APRIL 17, 2011

Last week ZipCar began trading and has a market cap of about $1 billion. Founding Date: 2004. How They Make Money: Majority of Kayak’s revenue actually comes from advertising on their site (55%), not lead generation or referral fees to travel suppliers as you might think (more on this below).

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Ben's Blog

JULY 16, 2013

Perhaps you are caught in the “Series A crunch” or perhaps you are a consumer company and expected that you would be valued on users rather than revenue like the last time. What about the efficient market hypothesis? Aren’t markets rational? 3/31/2004: 31.6. Because markets are not logical; markets are emotional.

Down Round 78

Down Round Marketing Preferred Stock Post-Money Valuation 78

Ben's Blog

JULY 16, 2013

Perhaps you are caught in the “Series A crunch” or perhaps you are a consumer company and expected that you would be valued on users rather than revenue like the last time. What about the efficient market hypothesis? Aren’t markets rational? 3/31/2004: 31.6 3/31/2004: 31.6 How could this be? 3/29/1996: 22.3

Marketing 46

Marketing Preferred Stock Post-Money Valuation Down Round 46