Version One Ventures

OCTOBER 7, 2014

Rick Perreault of my portfolio company Unbounce recently called my attention to an interesting comparison between two SaaS models: Hubspot & Moz – A Tale of Two (Very Different) SaaS Business Models. Since investors (whether private or public) like to see growth, Hubspot’s story is more impressive from that standpoint.

Initial Public Offering 78

Initial Public Offering IPO SEC Valuation 78

Startup Professionals Musings

SEPTEMBER 11, 2013

In the old days, every entrepreneur dreamed of someday taking their startup public, and making it a multi-national powerhouse. Going public is an expensive process. Typical costs for startups today range from $250,000 to $1 million, even if the offering does not go through. Startup founders don’t fit in a public company.

IPO 242

IPO SEC Prospectus Startup 242

Reid Hoffman

MARCH 19, 2019

There are times when small and slow is the right strategy for a specific market opportunity. And, as the industrial revolution showed us, there are some real costs to scale. When the market conditions are right, you should blitzscale for the benefit of all stakeholders: customers, employees, investors, and society.

Cofounder 28

Cofounder Business Model IPO Non-Compete 28

Steve Blank

MARCH 18, 2011

The Golden Age (1970 – 1995): Build a growing business with a consistently profitable track record (after at least 5 quarters,) and go public when it’s time. VC’s worked with entrepreneurs to build profitable and scalable businesses, with increasing revenue and consistent profitability – quarter after quarter.

Internet 334

Internet IPO Silicon Valley Agile 334

Steve Blank

OCTOBER 24, 2017

A version of this article is in the Harvard Business Review. Uber , Zenefits , Tanium , Lending Club CEOs of companies with billion dollar market caps have been in the news – and not in a good way. 20th Century Tech Liquidity = Initial Public Offering. And while new markets were created (i.e. Board Control.

Founder 252

Founder Technical Review CTO Hire IPO 252

Startup Professionals Musings

NOVEMBER 2, 2018

Shows positive value for both the customer and the business. They are looking for solutions that will reduce their costs by 20%, or double productivity, or cut traffic accidents by a third. Tiny markets may excite your passion but won’t sustain a business or leave you with a long-term positive legacy.

Intellectual Property 48

Intellectual Property Initial Public Offering Merger Acquisition 48

Startup Professionals Musings

JUNE 2, 2013

The single most important ingredient of success is not the idea, but having a team in place that has impeccable integrity, can iterate the product quickly, pivot the business model as necessary, and keep costs down in the process. That means merger and acquisition (M&A), not initial public offering (IPO).

Cram Down 269

Cram Down Angel Investor Intellectual Property Venture Capital 269

Version One Ventures

JUNE 7, 2016

The acquiring company can just plug that product into their existing distribution channel to help round out their current product suite and grab more market share (and some might argue that even this is happening less frequently). Be sure to set your expectations and business model accordingly.

IPO 60

IPO Distribution Channel Business Model 60

Growthink Blog

MAY 23, 2011

With this capital, the company propels itself to $50 million+ in revenues, and to either a sale to a strategic acquirer or to an initial public offering. Technical progress and market traction are much slower and cost a lot more than anticipated. There are a lot of dark, hard days.

Angel Investor 112

Angel Investor Venture Capital Sweat Equity Cram Down 112

online.wsj.com

SEPTEMBER 23, 2012

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Venture Capital 107

Venture Capital Software Review Rhode Island North Dakota 107