Both Sides of the Table

SEPTEMBER 15, 2022

At our mid-year offsite our partnership at Upfront Ventures was discussing what the future of venture capital and the startup ecosystem looked like. We drew this conclusion after a meeting we had with Morgan Stanley where they showed us historical 15 & 20 year valuation trends and we all discussed what we thought this meant.

Technical Review 416

Technical Review Pre-Money Valuation San Francisco Valuation 416

Agile VC

APRIL 17, 2011

AGILEVC My idle thoughts on tech startups. 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. Cliff Notes S-1: Kayak.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Lightspeed Venture Partners

OCTOBER 29, 2012

The company sought to raise $125,000 for 25% of the comapny, implying a $375,000 pre money valuation. Unsurprisingly, all the sharks passed, based on market size and valuation expectations. The company was started six weeks ago, had no sales and no retail distribution yet.

Pre-Money Valuation 97

Pre-Money Valuation Offshore Valuation Cofounder 97

Gust

OCTOBER 16, 2012

This summer I conducted our third annual survey of the pre-money valuation of pre-revenue companies recently funded by angel groups in North America. Access to our 2010 and 2011 surveys can be found at 2011 Valuation Survey of North American Angel Investor Groups. Pre-revenue energy and clean tech.

Angel Groups 169

Angel Groups Valuation Pre-Money Valuation North Dakota 169

Lightspeed Venture Partners

SEPTEMBER 21, 2013

Despite having over 500k downloads and making $450k in revenue over the last 21 months, he had only $185k left in the bank, which meant that he would be out of business in 90 days if he didn’t raise more money. pre money valuation and planned to use the money to market the app. pre money valuation).

Pre-Money Valuation 164

Pre-Money Valuation Valuation Dilution Distribution 164

Lightspeed Venture Partners

OCTOBER 7, 2012

He had been at it for 6 months and had no sales or distribution lined up yet. They won a design award at a trade show, but have no revenue and no orders. They are seeking $40k for a 33% stake and want investors who can provide introductions for distribution and licensing on their behalf. The entrepreneur was clearly desperate.

Technical Review 110

Technical Review Technical Cofounder Valuation Pre-Money Valuation 110

Tim Keane

JANUARY 12, 2010

Startups and angels: Along the way to success. Term-sheets and Valuations: Thinking about Negotiations. 3]   However, if they are built bottom up, they demonstrate and make explicit a range of business model assumptions the entrepreneur is using to think about his business and its revenue model. stake in the company.

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68