View from Seed

DECEMBER 4, 2019

At the same time, despite some realizations in recent years through M&A, PE acquisitions, and IPOs, the general sense I get from LPs is that the level of distributions don’t quite line up with the unrealized performance. Looking at all vintages from 2005 to 2014, the top 5% TVPI is between 40% to 127% better than the top quartile TVPI.

LP 256

LP IRR Distribution Portfolio 256

Both Sides of the Table

SEPTEMBER 16, 2010

As I’ve highlighted I believe we’re in a unique period similar to 2005-08 where the biggest tech firms of Silicon Valley (and some media companies) are scooping up small software companies as “talent acquisitions&# versus accretive revenue / profit generators. This is actually the norm.

Cap Table 283

Cap Table Angel Investor Liquidation Preference Deal Flow 283

mashable.com

MARCH 20, 2014

If theyre all about acquisition, ask about time frame goals. Founded in 2005, Mashable is headquartered in New York City with an office in San Francisco. ©2005-2014 Mashable, Inc. Candidates are often so excited about working for a hot, new startup they dont think about their own long-term potential. All Rights Reserved.

Technical Review 103

Technical Review Software Review Exit Strategy San Francisco 103

Both Sides of the Table

SEPTEMBER 28, 2014

by Michael Woolf that is worth any startup founder reading to get a sense of perspective on the reality warp that is startup world during a frothy market such as 1997-1999, 2005-2007 or 2012-2014. We want money to make some acquisitions (investors would prefer to fund M&A if they know specific deals – not to encourage bad behavior.

Burn Rate 383

Burn Rate Balance Sheet .Net Valuation 383

Duct Tape Marketing

JUNE 21, 2011

There’s also an interesting integration of acquisition TalkBin , a tool that makes it very easy for people send SMS messages to any registered business. Business owners are invited to claim their pages, create special offers and try out ad products such as Boost right from the city home page.

Small Business 66

Small Business Marketing Software Review Portland 66

Agile VC

APRIL 17, 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. =. paying for travel data from ITA or others (customers acquisition spend is not included in COGS). round closed Feb 2005. Kayak Software Corporation.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

YoungUpstarts

SEPTEMBER 5, 2013

One of Asia’s biggest regional technology and startup blogs just got bigger – Tech in Asia ( Techinasia.com ) just announced its acquisition of fellow Singapore-based tech blog SGEntrepreneurs (SGE) for an undisclosed sum, entrenching itself as one of the leading English language blogs covering the technology scene in Asia.

Singapore 159

Singapore Asia Merger Cofounder 159

Austin Startup

APRIL 27, 2019

the business was the same and through acquisitions it became to be worth $1.33 At the beginning of Bazaarvoice in 2005, the market risk was whether or not we could convince retailers to embrace both the positive?—?and No matter the name?—?the billion as the juggernaut it is today. and negative?—?voice

B2C 51

B2C Austin Cofounder IPO 51

Agile VC

MAY 26, 2011

Online social networking is a concept still being evangelized even in Silicon Valley… Friendster is in private beta (wasn’t until Oct 2003 they received Google acquisition offer which they turned down for Kleiner/Benchmark round). How to Market Yourself & Your Business on LinkedIn is one of our most popular how-to guides! .

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Feld Thoughts

MAY 28, 2015

Or if you want to go back to 2004 and 2005 when I was really learning about Agile, well before it had become a household name, you could read my posts Agile Software Development with SCRUM or Do You Develop Software For A Living? In 2003 – while Agile was known – it was largely limited to ISVs and a few leading IT organizations.

Software 70

Software Technology Agile SCRUM 70

www.redmonk.com

SEPTEMBER 7, 2010

So what about Java, in light of Oracle’s acquisition of Sun, and the complete win of the web over everything else? That is- if its in production, its “dead&#. When a commentator says Technology A is dead, they generally just mean its not an Apple or Google product. What role can Java play in a world of dynamic languages?

Java 43

Java Demand Web Framework 43

www.redmonk.com

SEPTEMBER 7, 2010

So what about Java, in light of Oracle’s acquisition of Sun, and the complete win of the web over everything else? That is- if its in production, its “dead&#. When a commentator says Technology A is dead, they generally just mean its not an Apple or Google product. What role can Java play in a world of dynamic languages?

Java 43

Java Demand Web Framework 43

Feld Thoughts

JULY 5, 2015

If you are a Google watcher, aspire to have you company acquired by Google some day, or just want to understand Google’s approach to acquisitions (which Geis calls “semi-organic growth”) this is a must read book that is well worth the money. It’s comprehensive and well done. Dodgeball.com. Google acquires(?)

Acquisition 70

Acquisition Cap Table Framework Retention 70

Jeff Hilimire

APRIL 10, 2012

It’s not like when Yahoo bought Flickr in 2005. He says he’s going to leave it alone, but that doesn’t make any sense. He’s going to want to integrate it somehow into Facebook, because sharing photos is inherent in Facebook’s DNA. My personal take is that this is a bad thing for Instagram users.

Acquisition 55

Acquisition Valuation Mobile Networking 55

Both Sides of the Table

MARCH 25, 2016

After a year in the market, MakeSpace was growing rapidly and our biggest issue was CAC (customer acquisition costs) relative to payback period (when we get our marketing investment back) and relative to LTV (lifetime value). But that’s harder to build in 2016 than it was in say 2005.

Startup 150

Startup Seed Money DC Software Review 150

Feld Thoughts

SEPTEMBER 8, 2011

Today one of our portfolio companies BigDoor announced the acquisition of San Francisco-based OneTrueFan , a community and web check-in company. When there is a great fit, I love seeing our portfolio companies make acquisitions. Todd and Eric have been friends of mine for a long time.

San Francisco 115

San Francisco Acquisition Cofounder IPO 115

Feld Thoughts

FEBRUARY 28, 2011

The project started as an extension of our Term Sheet series and Letter of Intent series that we wrote on this blog in 2005 and 2006. It’s evolved into a much broader book covering financings, acquisitions, how VC firms work, and a bunch of other random things we think are important to entrepreneurs.

Term Sheet 134

Term Sheet Acquisition Finance Partner 134

ConversionXL

JUNE 5, 2014

Popular eCommerce site Threadless has had a “feature request” thread on their customer forum since 2005. Much of this success can be attributed to their acquisition campaigns that often combine humor with a serious tone that let you know they take pest control very seriously.

Retention 115

Retention Customer Developer Programming 115

ConversionXL

JUNE 5, 2014

Popular eCommerce site Threadless has had a “feature request” thread on their customer forum since 2005. Much of this success can be attributed to their acquisition campaigns that often combine humor with a serious tone that let you know they take pest control very seriously.

Retention 112

Retention Developer Customer Programming 112

SiliconHills

AUGUST 21, 2012

Austin-based BuildASign.com, has grown quickly since its launch in 2005. But mainly, it’s growth has been organic with a few acquisitions along the way. Just in time to decorate dorm rooms and renovate empty nest homes, BuildASign.com has launched Printcopia, a new home decor site.

Acquisition 79

Acquisition Austin Employee San Antonio 79

ConversionXL

JUNE 5, 2014

Popular eCommerce site Threadless has had a “feature request” thread on their customer forum since 2005. Much of this success can be attributed to their acquisition campaigns that often combine humor with a serious tone that let you know they take pest control very seriously.

Retention 105

Retention Customer Developer Programming 105

Austin Startup

FEBRUARY 9, 2019

and today Bazaarvoice has a broad Conversations platform, network solutions (like Bazaarvoice Connections), analytics (Bazaarvoice Intelligence), and now advertising for the network with the acquisition of Longboard Media. But remember that this was 2005?—?and Yeah, I guess you could say that. They are talking to each other anyway.

Stealth 48

Stealth Cofounder Los Angeles Technical Review 48

K9 Ventures

SEPTEMBER 8, 2015

After the acquisition of SneakerLabs, he served as the Vice-President of Interactive Technologies for E.piphany. That company merged with another company in Boston and grew to about 80 people and was acquired in 2005. Manu Kumar is Founder and Chief Firestarter at K9 Ventures.

San Francisco 48

San Francisco Early Stage Portfolio Software Engineering 48

Agile VC

MARCH 13, 2012

It was filed in 2005 and issued in 2010 which means there was a good deal of prior art around SNS before Yahoo filed. Regarding social networking, Yahoo! holds a patent ( USPTO #7747648 ) which essentially details a system of modeling people, places, and objects within a website.

IP 100

IP IPO Social Network Silicon Valley 100

ConversionXL

JUNE 5, 2014

Popular eCommerce site Threadless has had a “feature request” thread on their customer forum since 2005. Much of this success can be attributed to their acquisition campaigns that often combine humor with a serious tone that let you know they take pest control very seriously.

Retention 98

Retention Customer Developer Programming 98

Gust

NOVEMBER 4, 2011

Never missing an opportunity for a good war story, I’d like to revisit one high-profile transaction, the $650 million acquisition of MySpace by Fox Interactive Media in 2005, on which I spent many sleepless nights along with the rest of the deal team. Read on for a fuller explanation. Redpoint, led by Geoff Yang , invested $11.5

Valuation 98

Valuation Pre-Money Valuation Merger Vesting 98

YoungUpstarts

NOVEMBER 13, 2012

The founders sold the two year old company to eBay in 2005 for $2.6 eBay was ultimately unable to generate sufficient profits and synergies from the acquisition. For many, selling their startup to a company that retains their services after the acquisition can provide the best of all worlds.

IPO 162

IPO Exit Strategy San Francisco Startup 162

David Teten

MAY 16, 2011

Kevin Barhydt, Head of Acquisitions, RPX. Geleerd acquired the stadium out of highly publicized bankruptcy and turned around its financial position and ultimately engineered the sale back to the Toronto Blue Jays in 2005. Kevin Barhydt, Head of Acquisitions, RPX. Panelists: Jeff Kupietzky MBA 98, CEO, Oversee.net.

Naming 122

Naming Government Intellectual Property LLC 122

Seeing Both Sides

NOVEMBER 1, 2011

Colin Angle, CEO/cofounder of iRobot (2005 IPO). Scott Griffith, CEO ZipCar (2010 IPO). Gail Goodman, CEO Constant Contact (2007 IPO). Niraj Shah, CEO/cofounder of Wayfair ($500m revenue). Paul English, CTO/cofounder of Kayak ($200m revenue, S-1 filed). Matt Lauzon, CEO/cofounder of Gemvara (reportedly $10m revenue) .

Technical Cofounder 45

Technical Cofounder Cofounder IPO Boston 45

Feld Thoughts

FEBRUARY 9, 2016

I learned this lesson 127 times between 2000 and 2005. I started investing in 1994 and while there was some bumpiness in 1997 and again in 1999, the real pain happened between 2000 and 2005. It’s so nice there are other great VC bloggers who write this stuff so I can just point at it.

Cap Table 70

Cap Table Down Round Liquidation Preference Founder 70

Duct Tape Marketing

JUNE 3, 2011

Lead generation in this content driven social model is still a metered blend of advertising, public relations and referrals, but social is the mechanism driving the discovery and the conversation surrounding this powerful form of lead acquisition.

Small Business 62

Small Business PPC Social Media Public Relations 62

YoungUpstarts

AUGUST 13, 2012

Others, like Def Jam, have been transformed through mergers and acquisitions. The phrase “reddit” came to RedditM co-founder Alexis Ohanian while in the library of the University of Virginia in 2005. Each of the nine businesses listed below began in college, and in some cases, with no initial profit motive in mind.

Intellectual Property 127

Intellectual Property New York City Pennsylvania Cofounder 127

VC Cafe

APRIL 8, 2010

Q lipso, an Israeli startup funded by JVP (see previous VC Cafe post ), has announced the acquisition of the assets of Veoh , a user generated video site, on the virge of its declaration of bankruptcy. According to the Wall Street Journal , the company was about to file for chapter 11 on March 19th at 5pm.

Bankruptcy 74

Bankruptcy Early Stage Merger Institutional Investors 74

This is going to be BIG.

DECEMBER 11, 2014

I don''t remember when I started talking to Rob, but I know it was before February of 2005, because I found "rob@businesspundit.com" in the contacts I ported over when I left GM and went to USV. It was written by a guy about my age down in Louisville, Kentucky. A former engineer, Rob was a great writer and a thoughtful student of management.

Louisville 102

Louisville Term Sheet Kentucky Ukraine 102

Up and Running

DECEMBER 1, 2015

In 2005, David Choe was invited to paint a number of murals at Facebook’s HQ in Palo Alto. If you don’t have big dreams for your company and are happy running it day to day (you’re not thinking about your IPO or acquisition in five years), then offering equity in the business is not fair to employees.

Equity 60

Equity Employee Stock Options Vesting 60

ConversionXL

JUNE 24, 2020

Click fraud first came to light in 2005, when several major cases were taken to court. Any marketing strateg y that relies heavily on PPC—or any single channel—for acquisition is at risk. However, diversifying your acquisition channels can help reduce your risks and makes sense—even if click fraud is a minor concern. Conclusion.

PPC 121

PPC IP Idaho Non-Compete 121

Duct Tape Marketing

MAY 19, 2011

His latest book, “ Flip the Funnel: How to use existing customers to gain new ones ,” presents a powerful hypothesis that retention can become the new acquisition through the strategic incorporation and elevation of customer service, customer experience and customer initiated word-of-mouth, content creation and incentive-based referrals.

Small Business 53

Small Business Marketing Social Media Cofounder 53