Agile VC

APRIL 17, 2011

5) High Productivity: Kayak had 148 employees at the end of 2010. That means that Kayak generates roughly $1.15M in revenue for each employee which puts it in the same league as Google and Apple (both >$1M/head). liquidation preference, 6% accumulated dividend (1). Series A-1 Preferred. Series B Preferred.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Both Sides of the Table

FEBRUARY 23, 2015

There is a second set of career discussions I have even more frequently than my “angel yourself” advice but this type is almost never discussed publicly in blogs, which tend to emphasize only billion-dollar opportunities, 20-something technical founders and Silicon Valley elitism. the standard 4-6% for a hired-gun CEO).

Technical Review 150

Technical Review Liquidation Preference Silicon Valley IP 150

Both Sides of the Table

JANUARY 21, 2010

Forget to get around to setting up that Employee Stock Option Plan and want to be able to give the early guys their options at a low strike price? Right sized : I tried to work with one of the best known firms in Silicon Valley. He’s totally tapped into the startup communities in Silicon Valley and a bit in LA.

Southern California 318

Southern California Silicon Valley IP Stock Options 318

Both Sides of the Table

MAY 13, 2013

If the money comes from professional investors it usually has a “liquidation preference” meaning that their money comes out before the founders or common stock. (If That’s why liquidation preferences exist – downside protection. I know many rank-and-file employees. Does Yahoo!

Liquidation Preference 357

Liquidation Preference Early Stage Retention Lock-up Period 357

Feld Thoughts

SEPTEMBER 9, 2015

Some will demonstrate strategically justifiable metrics and have fantastic ‘up round’ exits; others may see liquidation preferences kick in which will negatively impact founders and employees; others may fulfill the adage “IPO is the new down round” , which has been the case for more than half of the public companies on our list.

Liquidation Preference 70

Liquidation Preference Burn Rate Balance Sheet .Net 70

Both Sides of the Table

SEPTEMBER 2, 2009

I took money with a 3x participating preferred liquidation preference with 8% compounded interest annually. Coupled with my participating preferred from 1999 and 2000 I had more than $55 million of liquidation preferences. I’m assuming this in Silicon Valley, LA or similar locations.

Founder 329

Founder Liquidation Preference Term Sheet Participating Preferred 329

Professor VC

JULY 25, 2013

It is the story of the founding of the venture capital industry in Silicon Valley and features many of the iconic companies created including Apple, Intel, Genentech and Cisco. In investment parlance, it strictly means that new classes of stock have equal rights with prior classes in terms of liquidation preference, voting rights, etc.

Term Sheet 46

Term Sheet Silicon Valley Syndicate Syndication 46