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Book value matters

Information Arbitrage

These dynamics beg the following question: Does creating intrinsic value matter in technology start-ups, or are operating cash flows all that really count to a (hopefully) fast-growing early stage business? But in the cold light of day, the chances of achieving parabolic growth and creating billions in enterprise value is pretty low.

Mathematical vs. Economic Dilution of Startup Equity: Thinner Slices of an Extra-Large Pizza


Back from a hiatus, it’s time to venture forward once more. I appreciated hearing from those who asked about upcoming posts. Industry Experts

You have to judge a cover by its book

Life Beyond Code

Let’s take a book, your book. Your book is the value you bring to the marketplace. Here are four possibilities: 1.

The Business Model Canvas Gets Even Better – Value Proposition Design

Steve Blank

Product/Market fit now has its own book. His new book does three things: 1. Introduces the Value Proposition Canvas. Buy it.

5 Ways Company Culture Can Turn Your Start-Up Cash Flow Positive

Fresh Inc.: The Staff Blog

The right culture lies at the intersection of sets of values-- what’s important to you and what’s important to winning new customers.

Guide through the Balance Sheet & its Key Terms | Deimar.


and the value. value. value. value of a companys outstanding shares. It differs from the market value which fluctuates.

6 Company Values That Will Boost Cash Flow

Fresh Inc.: The Staff Blog

Every company has values. Here are six surefire values that will do your company some good. If so, your start-up may have wrong values.

Coder 10

Restrictions On Transfer in the Facebook Age

Recent Buzzes - VC Experts, Inc.

book value or an earnings multiple), at a price that matches the price offered by a third party, or at "fair value." By Joseph W. Bartlett, Of Counsel, Sullivan & Worcester LLP. In small companies, the shareholders feel the need to relate to each other as partners and a maverick shareholder can be disruptive.

3 Pillars of Valuation

Fresh Inc.: The Staff Blog

EBITDA multiples for your industry don''t tell you much about what your particular company might be worth. Not all profits are created equal.

Tonight We're Going To Party Like It's 1999

Launching Tech Ventures

The firms had an aggregate market value of $99 billion at the end of 2001, and they had raised $85 billion of capital. and WebMD. Valuations.

Lean 18

Tonight We're Going to Party Like It's 1999

Platforms and Networks

The firms had an aggregate market value of $99 billion at the end of 2001, and they had raised $85 billion of capital. and WebMD. Valuations.

Howard Tullman: Always On

Fresh Inc.: The Staff Blog

Here and Now After,oh, a couple dozen successes, Howard Tullman is building Tribeca Flashpoint Academy, a digital-age vocational school.'> By 8 a.m.,

SaaS Nomenclature

Seth Levine's VC Adventure

For example when you say sales do you mean booking or revenue? If bookings are the total contract value of everything you sold in a period, how do you normalize for different contract lengths? Are renewals counted in bookings or broken out separately? Churn – Monthly value of customers who didn’t renew.

Share of Revenue and Profits

Will Price

more book value than at its peak valuation. See the attached chart. more revenue, 68x more net profit, and 14.5x

Never run out of money.


Running out of cash denigrates the very value of a business, reducing greatly any bargaining power with suppliers or acquirers. A fast-growing but undercapitalized company is not highly valued in an acquisition. Money in the bank is like oil in the car. Running out of money is not always synonymous with “going broke”. Growth!

Repurchase agreements: what you should know before you sign

High Contrast

Also, issuing shares at less than fair market value could be a breach of the fiduciary duty of directors and could expose them to a lawsuit from the disgruntled party. Sim has pointed out to me that he sometimes sees 409(A) valuations used to determine fair market value in shareholder agreements that apply to many shareholders.

VC Governance FAQ: (2) Especially now, when transparency is so important, why is limited financial information available from a private company?

Pascal's View

The fact remains that you don’t know the value of a private asset unless you actually intend to sell it.

Carried Interest Debate Cont.: The Death of Sweat Equity?

Burnham's Beat

and they give the GPs a disproportionate share of the profits in direct recognition of the value of these intangible investments. From a theoretical perspective this is basically no different from an investor who buys shares in a corporation at a price above tangible book value. Books All Tech Investors Should Read.


Web 3.0 isn't the Semantic Web, it's Hailstorm 2.0. Why it Matters.

500 Hats

on those merits alone, and counting the book value of Yahoos minority stakes in Yahoo! The Internet Revolution, Act III. Part II! means.

Do you buy stocks?

Kevin Dewalt

I quickly became interested in the subject and read everything I could find on it from books by Peter Lynch and Ben Graham to periodicals like the Wall Street Journal and Investor Business Daily. If you want another great book about the benefits of diversification, look at Roger Gibson’s book on Asset Allocation. me too.

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