Both Sides of the Table

DECEMBER 11, 2022

And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. We wanted new things to exist and to solve new problems and to see our creations come to life. But this is still all about valuations and none of it is any fun anymore.

Valuation 466

Valuation San Francisco Ratchet Liquidation Preference 466

Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Your A round?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

David Teten

JANUARY 13, 2015

There’s a dialect and lexicon in African American households that many people are unfamiliar with, so when these words creep out of your mouth during professional conversations and pitches, your intelligence is often being unfairly downgraded – it sadly is! Prove more through metrics. Feign familiarity if you must.

Venture Capital 60

Venture Capital Advisory Board Greece Cofounder 60

Tim Keane

JANUARY 12, 2010

.   This is perceived by some investors as a way to assure that the founders are in the game for the long run. ·       Conversion provisions allowing preferred to convert to common if they choose or upon the closing of an IPO at a specified price.   [1] Various multiples are used for various reasons.

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68

Up and Running

APRIL 27, 2012

Internet entrepreneurs in the UK need to push managing metrics right to the front of their to-do lists. They need to be relentless in their pursuit of identifying and tracking metrics across all aspects of their business. Most meaningful metrics. They need to re-embrace planning even if they have no desire for a business plan.

Metrics 68

Metrics Nigeria Ratchet Churn Rate 68

Gust

SEPTEMBER 17, 2014

Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. There were no metrics. Him: On metrics. Your A round?

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Startup Lessons Learned

MAY 7, 2009

He summarized that conversation well, so rather than re-tread that material, Ill quote it here: One thing that I was surprised to learn was that IMVU started out with continuous deployment. As the product matured, they were able to ratchet up the quality to prevent regression on features that had been truly embraced by their customers.

San Francisco 131

San Francisco Continuous Deployment Software Review Lean 131