Agile VC

APRIL 17, 2011

Distribution revenue is CPC and CPA. . Historically more revenue came from distribution/lead-gen (57% in 2007), but this tipped in 2008 though appears to be steady from 2009 to 2010 at about 58% advertising and 42% distribution. Kayak generates both distribution (i.e. Expedia accounted for 24.5% as of 12/31/09).

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

David Teten

JANUARY 19, 2021

Eligible for favorable treatment under Qualified Small Business Stock exemption, if structured as equity. This applies if the investment converts into common stock; details are beyond this essay’s scope. Flexible VC creates early liquidity which can be either reinvested or distributed to LPs. Early liquidity. Governance.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Austin Startup

AUGUST 1, 2017

This is most clearly highlighted in the “unicorn” boom we all saw over the past few years, where founders raised very large rounds, with terms very onerous to the underlying common stock, hoping they could eventually justify billion dollar valuations to skeptical acquirers or public market investors.

Liquidation Preference 48

Liquidation Preference Common Stock Valuation Silicon Valley 48