Customer Preferred Stock Revenue Syndication 
Agile VC
APRIL 17, 2011
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). Financial Snapshot: 2010 Revenue: $170 million. Revenue growth: 51% YoY (2010), 1% YoY (2009), 131% YoY (2008).
www.paulgraham.com
APRIL 28, 2010
There never has to be atime when you have no revenues. By which I meannot that it has to make something physical, but that it has to haveone thing it sells to many people, rather than doing custom workfor individual clients. Custom work doesnt scale. Some angel investors join together in syndicates.
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