abovethecrowd.com

APRIL 20, 2016

All Unicorn participants — founders, company employees, venture investors and their limited partners (LPs) — are seeing their fortunes put at risk from the very nature of the Unicorn phenomenon itself. The same thing happened to many Internet stocks. Their own ego is also a factor – will a down round signal weakness?

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Both Sides of the Table

FEBRUARY 14, 2016

No you’re kind of f *d because nobody wants to buy any at all and your bank is calling you concerned that you may need to slow down your pace of new purchases for a bit. Many experienced partners are funds have 7-10 boards and most of these will need more capital. So when prices go down their first reaction is, “S**t.

Valuation 150

Valuation Down Round Startup Later Stage 150

Both Sides of the Table

FEBRUARY 4, 2016

Limited Partners (LPs) who invest in VC funds have continued to pour money into venture – with the market returning to pre-recession levels. As I’ve argued for ages there has to be a correlation between public tech stock valuations and private market valuations. Most flat rounds. More down rounds.

LP 150

LP Valuation Burn Rate Pre-Money Valuation 150

Reid Hoffman

JUNE 8, 2021

While many travel industry leaders chose to “go dark,” as Airbnb CEO and co-founder Brian Chesky put it , while they decided how to navigate next steps, Chesky took a different approach: He got candid. Greylock Partners · Brian Chesky | People-First Capitalism. So we have to think of ourselves as partners. EPISODE TRANSCRIPT.

Silicon Valley 69

Silicon Valley Hosting Rhode Island Design 69

Startup Company Lawyer

MARCH 14, 2010

Founders Institute Plain Preferred Term Sheet (by WSGR – disclaimer, I represent the Founders Institute and was involved in drafting this document). I think that the Series Seed documents are probably most appropriate in a friends and family equity seed financing, as opposed to a round led by a professional investor.

Finance 70

Finance Software Review Term Sheet Liquidation Preference 70

Berkonomics

JUNE 8, 2017

Some businesses require very little capital and the founder can self-finance the enterprise and retain 100% of its ownership and control from ignition through liquidity event (startup through sale). Strategic partner” investors: If you can find a strategic partner willing to invest in your enterprise, consider it a blessing.

Private Equity 106

Private Equity Valuation Cap Table Accredited Investor 106

David Teten

AUGUST 7, 2019

The second strategy is Value Investing , a strategy which “seeks to maximize returns by finding stocks that are undervalued by the market…Investors assess a stock’s intrinsic value…and compare that value with the stock price. LTV / CAC, revenue growth, etc.) Requires less analysis.

Venture Capital 60

Venture Capital Valuation Stock NDA 60

Both Sides of the Table

MARCH 30, 2016

Investors sat with the founder & CEO, Jason Spievak, and asked him what he wanted to do about the future. Mark dutifully went to partner meetings, back-channel references began, firms started calling existing VCs to “test prices” and we started debating whom our best partner would be. FOMO was NOMO.

Balance Sheet 150

Balance Sheet Burn Rate Valuation Forecast 150

Reid Hoffman

JUNE 8, 2021

While many travel industry leaders chose to “go dark,” as Airbnb CEO and co-founder Brian Chesky put it , while they decided how to navigate next steps, Chesky took a different approach: He got candid. Greylock Partners · Brian Chesky | People-First Capitalism. So we have to think of ourselves as partners. EPISODE TRANSCRIPT.

Silicon Valley 36

Silicon Valley Hosting Rhode Island Design 36

A Crowded Space

MAY 31, 2016

We expect there to be an increase in down rounds, flat rounds, inside rounds and various pay-to-play scenarios. Founders that raised party rounds are quickly discovering the downside of not having any larger, more committed investors. 2) Some insiders are supportive. 3) All insiders are supportive.

Cram Down 60

Cram Down Pay to Play Angel Investor Warrant 60

NZ Entrepreneur

JULY 8, 2019

I made my first investment in the stock market when I was 12 years old. If a valuation is too low, the founders become over-diluted over time and will struggle to do a later series A or B raise if they’re sitting at single digits – global venture capitalists (VCs) won’t touch this scenario. I killed it, everyone did. Valuations.

New Zealand 42

New Zealand Entrepreneur Valuation Dilution 42

Scalable Startup

FEBRUARY 1, 2013

All you need is for one of the new enterprise companies to completely whiff a quarter and their stock will collapse and then everybody will get all freaked out. We are already invested in these companies; we can’t sell our stock. We don’t have to sell our stock. People get confused about — it’s really funny watching the stock.

Software Review 22

Software Review Startup Venture Capital Stock 22

Hippoland

NOVEMBER 13, 2016

If a company sells for stock or partial-stock, then it’s more complicated, depending on whether the acquirer is a public company or a private company, and we don’t need to dive into that in this post. If a company raises a good round, it gets marked up to the new value. These founders are really selling.

IRR 48

IRR Valuation Portfolio Due Diligence 48

www.mattbartus.com

DECEMBER 9, 2012

Perspectives on issues affecting founders, startups and investors from a veteran startup lawyer in Silicon Valley. If you are a company that is fundraising, keep in mind that there are a few different levers you can pull to change the amount of dilution that the founders will experience. How to pump up your VC valuation. Post-Money.

Warrant 40

Warrant Valuation Pre-Money Valuation Term Sheet 40

Berkonomics

JANUARY 20, 2010

Some businesses require very little capital and the founder is able to self-finance the enterprise and retain 100% of its ownership and control from ignition through liquidity event (startup through sale). For you who fit that description, nice work. Do not expect grand valuations of your enterprise from these professional angels.

Private Equity 69

Private Equity Valuation Cap Table Accredited Investor 69