View from Seed

AUGUST 30, 2019

One of the key conversations that happens during NextView’s evaluation of an investment is the “debrief” after the partner meeting , where the entire partnership gets the opportunity to interact with the founding team and dive deeper into the business. . During the debrief, we would discuss not only aspects of the company (i.e.

Pre-Money Valuation 174

Pre-Money Valuation Syndicate Syndication Valuation 174

Agile VC

APRIL 17, 2011

At the end of the day Kayak’s playing a key role in the online travel process, but it appears more of the revenue comes from filling top of the conversion funnel rather than the middle or bottom of it. Pre-money valuation was initially set higher but was adjusted to match the Ser B valuation.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Both Sides of the Table

FEBRUARY 25, 2010

We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. million at a $15 million pre-money valuation. Conversely I offered the same deal to another entrepreneur who decided to shop around longer. We ended up agreeing a term sheet for $16.5

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

View from Seed

OCTOBER 21, 2014

Using NextView as an example, since we both seek to lead the seed round and only lead during this round, I’ve seen this trend manifest in one of two ways: In a priced round, the entrepreneur will often share their valuation ask (or a stated floor) for the pre-money valuation of their company much sooner in the process.

Valuation 336

Valuation Founder Seed Stage Angel Investor 336

Agile VC

MAY 26, 2011

Not long after the product launch we began the initial conversations with VCs for a Series A round. The terms and valuation for both offers were comparable and when the team debated which path to choose, we all agreed both firms would have made good partners. We three partners are working hard. It was a $4.7M

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

Genuine VC

JULY 30, 2012

By communicating pricing expectations with potential lead investors, I mean sharing either an “ask” or even stated floor for the pre-money valuation of the company (with a priced preferred round) or explicitly stating a valuation cap (for convertible note round).

Valuation 136

Valuation Pre-Money Valuation Angel Investor Syndicate 136