Feld Thoughts

APRIL 29, 2015

Now that everyone is overly focused on unicorns, the headline number on the valuation (e.g. Company X raised Y at a valuation of Z from A, B, and C) has crept into the story on big rounds. in Funding: Here is the Valuation, Term Sheet and Why We’re Doing It. It’s what the press likes to write about (e.g.

Atlanta 70

Atlanta Valuation Term Sheet Finance 70

Agile VC

FEBRUARY 28, 2012

There’s unfortunately no easy way to determine whether a lobbed in call or email represents smoke or fire. And when I say reservation price I don’t just mean valuation… I mean the broad contours of a round that you’d be willing to do which includes not just valuation but size of the raise, syndicate, etc.

Early Stage 100

Early Stage Syndicate Syndication Silicon Valley 100

Professor VC

APRIL 1, 2010

One comment made by Jason was that angels tend to be less sensitive than VCs on valuation and can potentially make it difficult to get a venture financing done at acceptable valuation. We are typically looking at either smaller exits or require a lower valuation to get a reasonable step-up to a venture round. Steve Bennet.

Term Sheet 32

Term Sheet Angel Investor San Jose Venture Capital 32

David Teten

DECEMBER 3, 2019

At Flow Capital, we use HubSpot’s sequences and workflows functions to automate a bulk of our emails and internal tasks. I use Superhuman , an email app which speeds up my email processing, and also gives me background information on all of my correspondents. 4Degrees helps leverage your network for sourcing.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Professor VC

JANUARY 17, 2008

One of my comments was that we would likely see more institutionalization of angel groups and syndication of deals among groups. Another comment which probably deserves more discussion is around valuation. He also said they typically only invest at a $1 million pre-money valuation or less. My facebook can beat up your facebook.

Pre-Money Valuation 28

Pre-Money Valuation Angel Investor Angel Groups Valuation 28

Cracking the Code

DECEMBER 9, 2006

Done deal: after a quick syndication with the kitchen team (their job was at stake, so they were easy to convince.), Subscribe via email. Detailed SaaS Spreadsheet (Valuation and CAC benchmark). SaaS 13 Index Valuation. we bought a $4 measuring spoon with an expected return of 1,000 times in the coming year. Newer Post.

Software Review 48

Software Review Technical Review Europe Venture Capital 48

Berkonomics

DECEMBER 17, 2020

Some can supply more when syndicating with other such groups. Email readers, continue here… ] The Angel Capital Association (ACA) lists over four hundred member groups, located throughout the USA. Angel groups invest from $250,000 to $1,000,000 or more in qualified investments. How many angel groups are there?

Equity 62

Equity Finance Liquidity Event Angel Groups 62

View from Seed

JANUARY 28, 2016

This is the best time to fundraise because that’s when you are able to command a meaningfully higher valuation for your next round to minimize your own dilution. You can also subscribe to our weekly email sharing insights, resources, and stories about startups gaining initial traction.

Cofounder 120

Cofounder Finance Founder Syndicate 120

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. Morgan Stanley had proposed a higher valuation to let them in. I’d send them their email and point out the docs were late. Yes, this was stupid.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

Tim Keane

APRIL 12, 2006

valuation than the previous round. If the investors ideal size is smaller than your need, you ought to ask about syndication. If they don’t like to syndicate, or don’t have a track record of doing it, you will want to consider your options. It is used by some investors who like the deal but can’t come to terms on valuation.

Entrepreneur 60

Entrepreneur Valuation Sweat Equity Common Stock 60

www.paulgraham.com

APRIL 28, 2010

Another concept we need to introduce now is valuation. I say "in theory" because in early stageinvesting, valuations are voodoo. As a company gets more established,its valuation gets closer to an actual market value. As a company gets more established,its valuation gets closer to an actual market value. Better how?

Technical Review 76

Technical Review Startup Software Review Angel Investor 76

Professor VC

JUNE 20, 2011

We managed to pull together an angel syndicate and close $450K on 9/30 after working the phones the last few days and anxiously waiting for signature pages to show up on the fax machine and wire confirms to hit the bank account. Email This BlogThis! offering to invest $75K if we could find another $250K by September 30, 2005.

San Jose 28

San Jose Angel Investor Term Sheet Venture Capital 28

Duct Tape Marketing

DECEMBER 14, 2017

Basically started as somebody of how do we take photos of cars and the pricing and descriptions of the cars, and put it all in one place, but then syndicate it. They are the first people to complain about any sort of spam and emails mayhem. They’ve come light years from there, that’s for sure. They use AdBlockers.

Kansas City 40

Kansas City CTO Hire Las Vegas Software Developers 40

Professor VC

MARCH 12, 2015

It was a great product addressing a large market opportunity and was interested in seeing how the AngelList syndicate process worked. Due to confidentiality provisions, I can''t disclose details, but there are many very unhappy participants who invested through the syndicate. Syndicates can either be company led or investor led.

Syndicate 28

Syndicate Syndication Silicon Valley Common Stock 28

Berkonomics

APRIL 3, 2014

And even though angel groups syndicate their best deals within their respective associated networks, it is always best to apply to the angel groups nearest your physical location. Email readers, continue here.] With angel groups, you should plan of spending months in the process, from application through funding.

Equity 92

Equity Finance Liquidity Event Angel Groups 92

Scott Edward Walker

NOVEMBER 26, 2017

Emailing or cold-calling them generally doesn’t work. In fact, in this new fundraising environment (with syndicates on AngelList , etc.), Simply put, some money is more valuable than other money; for example, Sam Altman ’s money is more valuable than your dentist’s. your lead may be able to make the deal happen very quickly.

Term Sheet 63

Term Sheet San Francisco Founder Investment Bankers 63

mashable.com

MARCH 7, 2011

Billion View Comments How HTML5 Is Aiding in Cross-Platform Development February 22, 2011 by Christina Warren View Comments email share email share The Mobile App Trends Series is sponsored by Sourcebits , a leading product developer for mobile platforms. Reproduction without explicit permission is prohibited. All Rights Reserved.

Developer 93

Developer HTML API Ruby 93

Both Sides of the Table

OCTOBER 18, 2015

Either we’ve discovered magical beans and elixir or perhaps we’ve gotten ahead of ourselves on valuation. Here is a chart to show you the median valuation of late stage private tech companies compared to traditional growth rounds of capital led by VCs and also vs. the public markets. 25% “down rounds?

IPO 150

IPO Venture Capital LP SEC 150