Both Sides of the Table

JULY 23, 2014

15 years ago we were at the peak of Internet hype with the launch of many over-capitalized businesses with a market size & opportunity was limited. The VC market has right-sized (returned back to mid 90′s levels & less competition). But markets value high growth over short-term profitability. Where are we today?

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Agile VC

APRIL 30, 2019

2019 is off to an exciting start for IPOs of VC-backed startups. In some respects though Zoom has had the most “successful” IPO of the three companies, which has surprised some folks. And Zoom has become the most valuable of the three in terms of market cap though daily fluctuations put it and Lyft fairly close ($16B+).

IPO 100

IPO B2B B2C Institutional Investors 100

The Startup Magazine

FEBRUARY 26, 2024

Late-stage investing is about fueling the rockets, providing the capital necessary for scaling up operations, entering new markets, and, ultimately, preparing for an exit, be it an IPO or acquisition. The future may see a shift in investment focus, with emerging technologies and untapped markets offering new frontiers for exploration.

Venture Capital 126

Venture Capital Technical Review Due Diligence Early Stage 126

Startup Professionals Musings

NOVEMBER 4, 2013

Even though the Initial Public Offering (IPO) alternative for a successful startup seems to be coming back, it is relatively rare. IPOs in 2008, the market was up to a still trivial 128 in 2012 (compared to 675 in 1996). business entrepreneur exit founder IPO startup' After a record low of 39 U.S. Marty Zwilling.

IPO 224

IPO Founder Exit Strategy Investment Bankers 224

Both Sides of the Table

JUNE 22, 2011

They have seen one side of a market where many of us have seen the ebb and flow multiple times. Still, market amnesia by ordinarily rational actors always surprises me. I believe a bubble occurs when a market is willing to pay greater than intrinsic value for an asset class. I spoke about a lot of things during the keynote.

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

View from Seed

MARCH 24, 2021

In this comprehensive template and guide we break down each of the nine core sections in the deck: intro , team , what do you do , is it working , why does it matter (market) , can you be the best in the world (product, growth, financial metrics) , where are you going , what do you want (the ask) , and appendix. ” (Lee Hower).

Seed Stage 177

Seed Stage Hiring IPO Analytics 177

Startup Professionals Musings

SEPTEMBER 30, 2012

Even though the Initial Public Offering (IPO) alternative for a successful startup seems to be coming back into vogue, it is relatively rare. IPOs in 2008, the market was up to a still trivial 159 in 2011. Consider the recent example of Facebook and Mark Zuckerberg. After a record low of 39 U.S.

Exit Strategy 239

Exit Strategy IPO Investment Bankers Entrepreneur 239

Agile VC

NOVEMBER 6, 2013

Twitter’s IPO has garnered a ton of attention in the tech and popular press. So their revenue figures, pre IPO financing and ownership, and other info is all widely available. Tomorrow we’ll know Twitter’s market cap definitively, at least near term. Growth IPOs Are Back.

IPO 194

IPO Aggregator B2B Internet 194

Steve Blank

JULY 11, 2017

Before the rapid rise of Unicorns, (startups with a valuation over a billion dollars), when boards were still in control, they “encouraged” the hiring of “adult supervision” of the founders after they found product/market fit. These new CEOs would also act as a brake to temper the founder’s excesses. Postscript. And of the other 30 who left?

Part-Time VPE 308

Part-Time VPE Liquidity Event Stock Engineer 308

YoungUpstarts

OCTOBER 23, 2017

This combinatorial model works because it’s diversified, can best withstand bear markets, benefits from technological synergies, and it’s the mix of products and services clients value. Here digital intercepts of consumer activities are aggregated into large data sets, analysed, and assessed versus market expectations. Underwriting.

Technical Review 154

Technical Review Artificial Inteligence Software Review IPO 154

The Startup Magazine

SEPTEMBER 4, 2020

For startups and entrepreneurs, awareness of the stock exchanges will help prepare you for a potential public financing of your company through an initial public offering, known as an IPO. The New York Stock Exchange has been the largest stock exchange by market capitalisation in the world since the end of the World War.

Stock 90

Stock Initial Public Offering New York China 90

ReadWriteStart

MARCH 31, 2020

When anyone asks what investors look for in startups , typical answers include an experienced management team, a large market for their product or service, growth potentials, uniqueness. However, things have not been all rosy in the VC market. Conclusion.

Technical Review 175

Technical Review Artificial Inteligence Startup Term Sheet 175

VC Adventure

AUGUST 31, 2017

At IPO only 7 of 39 companies that have gone publics since 2013 had positive EBITDA. There are a ton of private SaaS financings. In 2016 there were over 2,000 financing rounds of private SaaS companies ($18.5Bn invested). The average SaaS company is now 12 years old and has over $100M in revenue at the time of their IPO .

IPO 113

IPO Vertical Balance Sheet Valuation 113

Tim Keane

MARCH 9, 2011

How should I finance my new venture? It’s a deceptively simple question:  what is the optimal way to finance a new startup? Misaligned interests that lead to poor financing choices are often very problematic for first time entrepreneurs in young companies.  « Leaving a Trail | Main. |

Finance 83

Finance Bootstrapping Startup Equity 83

The Startup Magazine

SEPTEMBER 16, 2019

As you move from startup to scaleup, and then to a corporate entity preparing for an IPO for your exit, you learn how to stay focused. For example, who wouldn’t be happy if they owned a business that was one of the stock gainers that people were looking at on the stock market. Preparing for an IPO. Getting Off the Ground.

IPO 82

IPO Angel Investor Stock Investment Bankers 82

Up and Running

NOVEMBER 12, 2014

Initial Public Offering (IPO). Reasons an outside company might seek to acquire or merge with another company range from allowing them to break into a new market, to giving them a competitive edge, and removing you as a competitor from the current market. Types of exit strategies. Management buyout. Family succession.

Exit Strategy 117

Exit Strategy Lock-up Period Merger IPO 117

Gust

DECEMBER 28, 2011

In the “good old days,” angels invested in seed-stage startups and teed up promising companies for subsequent venture capital financing. If the company was successful, this quickly led to an IPO – a very happy ending for the entrepreneur, the angels, and the venture capitalists. My, my…how the world has changed.

IPO 153

IPO Venture Capital Entrepreneur Angel Investor 153

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. I can’t control the market. Private markets for stocks are the opposite.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Steve Blank

SEPTEMBER 14, 2009

To do this they have to accomplish five things; 1) get deal flow – via networking and legwork, they identify likely industries, companies and teams with the potential for rapid growth (less than 10 years), 2) evaluate those companies and teams on the basis of technology, market opportunity, and team.

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Start Up Blog

MAY 13, 2019

Last Friday night, I did a TV interview on ABC regarding Uber’s long awaited IPO. An IPO is when a company first becomes a publicly traded stock that anyone can buy and hold. So get ready for some finance meets tech nerdocity below. Amazon IPO 1997 – 2 years after it was founded.

IPO 48

IPO Valuation Stock Cost 48

View from Seed

DECEMBER 4, 2019

This equates to something in the neighborhood of a 10% IRR, which isn’t great given the illiquidity of the asset class and strength of the public markets. Over the last 10 years, we’ve been in a bull market with considerable froth in late stage financing activity and valuations. How Have the More Recent Vintages Performed?

LP 256

LP IRR Distribution Portfolio 256

Both Sides of the Table

OCTOBER 8, 2014

If you want the full SlideShare deck with many slides not in either post it’s in this link –> The LA Tech Market. Has it begun to mature or is it just better marketed than in was say 5 years ago? Given how efficient markets are when a large market like LA starts to blossom it attracts capital pretty quickly.

Los Angeles 376

Los Angeles Silicon Valley Entrepreneur Seattle 376

The Equity Kicker

SEPTEMBER 27, 2013

Whilst that’s not an outrageous increase from $10.5bn from what we know of Twitter’s finances it seems pretty spicy from a multiples perspective – just north of key comps Facebook, LinkedIn and Yelp on a revenue basis at 15x the 2014 estimate of $1bn, and 65x estimated 2014 EBITDA (Facebook 36x, LinkedIn 159x).

IPO 98

IPO Valuation Stock Advertising 98

Pascal's View

MARCH 18, 2010

Susan Mangiero , CEO of Investment Governance’s Fiduciary X , asked me the following: Question: Do you think than anemic IPO market will remain a deterrent to VC investing? I believe that an entire generation of American innovation is at risk as a result of the lack of IPO’s. equity markets. Yes I do.

IPO 28

IPO Government SEC Venture Capital 28

Both Sides of the Table

SEPTEMBER 10, 2021

And the loosening of federal monetary policies, particularly in the US, has pushed more dollars into the venture ecosystems at every stage of financing. With the enormous changes to our economies and financial markets?—?how how on Earth could the venture capital market stand still? What Has Changed in Financing?

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

Both Sides of the Table

JULY 16, 2010

But VC is an “illiquid asset&# so funds didn’t disappear quickly - In 2000/01 the stock market quickly adjusted punishing investors in the NASDAQ and in individual public technology stocks. What accelerated this was the collapse of the public stock markets. Staying “lean&# is not an option.

LP 311

LP Technical Review Early Stage Silicon Valley 311

Startup Professionals Musings

MAY 23, 2021

Others are really marketers out to make money fast, and believe that they can entice customers to any offering. If you ever felt enticed to jump into a quick money deal, like a real-estate quick-flip, or an IPO, that was your Opportunist side showing. Anyone who works with entrepreneurs will tell you that all are different. Specialist.

Entrepreneur 335

Entrepreneur Framework Incubator IPO 335

VC Adventure

NOVEMBER 20, 2014

The graph below shows the trend of exits – IPO vs. M&A over the past handful of years (side note here that Foundry, like many firms, considers an IPO a financing event, not an exit in and of itself; although obviously it can be a path to an exit shortly thereafter).

IPO 83

IPO Acquisition Distribution Algorithm 83

thebarefootvc

JANUARY 27, 2014

A couple of days later, the Journal reported that Snapdeal, an Indian e-commerce site, was in talks to raise a round of financing (led by Credit Suisse) that would potentially value the company at $1 billion. Further, while the public markets are opening up to IPOs once again, companies take much longer to IPO than in previous cycles.

Technical Review 63

Technical Review Valuation Venture Capital Investment Bankers 63

Up and Running

AUGUST 18, 2014

Startups have some unique struggles, especially in regard to financing. You’ll be entirely responsible for the future of your company and it will be down to you whether or not you run it for the rest of your life or decide to sell, merge or launch it on the stock market. Your product or service has a huge market.

Small Business 154

Small Business Exit Strategy Cofounder Angel Investor 154

Version One Ventures

APRIL 24, 2019

We are extremely excited to announce our investment in Guesser , the easiest way to engage with Augur prediction markets. Among all the crypto opportunities, we are most excited about crypto native opportunities – and prediction markets are clearly native. They began with just a few markets – but it was enough to see the potential.

Marketing 109

Marketing IPO Stock Finance 109

Growthink Blog

DECEMBER 27, 2017

Get Growthink's Proven Venture Capital Business Plan Template Here Industry Analysis Goal of the industry analysis section: Prove that there is a real market for your product or service. Cite credible sources when describing the size and growth of your market. Focus on the “relevant” market size. market research).

Venture Capital 129

Venture Capital Business Plan Technical Review Private Placement 129

Startup Professionals Musings

OCTOBER 5, 2015

I challenge any entrepreneur, for example, to define the difference between "seed-stage" and "early-stage" financing. A new VC seed market has been emerging, especially over the past five years: It usually appears in the form of a prototypical seed round of $1 million to $1.5 A “genesis” venture capital round.

Seed Stage 120

Seed Stage Finance Early Stage Startup 120

abovethecrowd.com

JULY 10, 2014

On June 18, Aswath Damodaran , a finance professor at NYU’s Stern School of Business, published an article on FiveThirtyEight titled “ Uber Isn’t Worth $17 Billion. Using a combination of market data, math, and financial analysis, Professor Damodaran concluded that his best estimate of the value of Uber is $5.9 by 2000.

San Francisco 111

San Francisco San Jose Marketing Technical Review 111

Both Sides of the Table

SEPTEMBER 16, 2010

Markets like these are very kind to angel investors because you get taken out early and see a nice pop on your investment. But consider periods of time where the average time a company exists before acquisition or IPO is 7-10 years. Total disruption on the funding market? This is actually the norm. How’d that work out?

Cap Table 283

Cap Table Angel Investor Liquidation Preference Deal Flow 283

Both Sides of the Table

OCTOBER 12, 2014

Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. In the old days there weren’t many fights about whether angels would take their prorata rights in financing rounds. Why prorata rights used to be less of a big deal to angels.

Technical Review 336

Technical Review Later Stage Early Stage LP 336

Rob Go

DECEMBER 28, 2011

Perhaps it’s been missed by most, but I think it was a remarkable year for this sector within this market. And that’s true pretty much across the board – from exits, late stage financings, scaling companies, and seed activity. IPO’s/Exits. market cap. Kayak: Registered for an IPO but on hold.

Technical Review 54

Technical Review Boston Software Review IPO 54